Michael Medved has got rocks.
He ignores that the voters born in the 1980s and early 1990s are already much more liberal than older generations on economics and social issues. They are fleeing the Religious Right, one of the most reliable constituencies for the GOP since the early 1980s. They are heavily in debt for student loans and are underearning for their abilities -- both tendencies tending to push people to vote for the more left-wing politicians. Their idea of a Republican President is the awful George W. Bush. Barack Obama is by every non-ideological criterion a far-better President.
As voters age they increasingly identify with institutions, but what institutions will they trust? Giant corporations that underpay them and offer no security? Predatory lenders? The Religious Right? It is more likely that they will identify with the political causes that they know in youth. Significantly some of the young volunteers for Obama are likely to grow into political careers -- and the vast majority of them will be elected as Democrats. The McCain and Romney campaigns did little to attract youth. When people's buddies start running for elective office, guess how people are going to vote.
Republicans need to ask themselves what they have to offer younger voters. Enrichment and pampering of elites is one of the most indirect and inefficient means of creating widespread prosperity. Educated rationalists have little use for the superstitious pablum that the Republicans offer to the Religious Right.
Thats the problem Generation Yers think of George W. Bush as an example of Republican Governance and the Republican name is tarred because of that. Obama is non-idealogical? Makes me smirk that statement.
Giant Corporations that underpay? No boss wants to give a raise on the fly in my opinion. he Predatory Lending-You should know what you are getting into. Your fault nobody else's.
I do agree though on your last point that the Religious Right can't be the GOP's only base anymore because its to small of a base now. Its like a failed business model.