Final answer:
The possibility of a successful third party in the U.S. is limited by institutional barriers and voter behavior despite a significant number of independent voters and dissatisfaction with the two-party system.
Step-by-step explanation:
The emergence of a serious third party positioned between the Democrats and Republicans in the United States is theoretically possible but practically challenging due to a variety of systemic barriers, historical trends, and voter behavior. While a significant portion of the electorate expresses dissatisfaction with the two-party system and aligns as independents, the institutional hurdles of the Electoral College and the requirement for widespread support across different states make it difficult for third parties to gain traction. Furthermore, as the parties have become ideologically polarized, the space for a moderate third party might be limited since most voters still tend to gravitate towards the existing major parties during elections.
Political parties serve to win elections and influence public policy by forming coalitions of voters with similar preferences. Despite the polarization of the Democratic and Republican parties, which has exacerbated since the 1990s, the historical trend of competing for the moderate voter remains. However, increasing partisanship and the decline of moderates in Congress have led to fewer opportunities for bipartisanship, making governance more challenging.
In summary, while many voters crave an alternative to Democrats and Republicans, structural obstacles and the dynamics of the political landscape make the rise of a successful third party difficult, though citizens' preferences and political engagement patterns continue to evolve.