What Does it Mean to be a Republican?

James Carville and Paul Begala have an interesting recent post at The Huffington Post. They claim that Obama looks like a lock for the election and it's time for the Republicans to start placing the blame for the failure to retain the presidency. What I found more interesting was a passage later in the post questioning what it means to be a Republican these days. And, yes, I know these two aren't the most objective commentators on political issues.

What does it mean to be a Republican? Do Republicans support laissez-faire or nationalized banking? Do Republicans support a balanced budget or half-trillion-dollar deficits? Do Republicans want a "humble foreign policy" like George W. Bush, or preventive war against countries that pose no threat, like, umm, George W. Bush? Are Republicans the party of limited government or a vast Medicare prescription drug benefit? Are they wary of Big Brother or eager to expand warrantless wiretaps? Do they support Christian values or torture? Are they the party that believes that cutting-edge technology can shoot a missile out of the sky or the party that believes humans and dinosaurs walked the earth simultaneously?