Hagel for a third party?

Sen. Chuck Hagel (R.-Neb.) made a comment in his new book “America: Our Next Chapter” elluding to his desire for a third party:

 In the current impasse, an independent candidate for the presidency, or a bipartisan unity ticket… could be appealing to Americans.

Even though Hagel is a Republican, he has been one of Bush’s staunchest critics in the Senate.

I have to say this is one of the most arrogant, incompetent administrations I’ve ever seen or ever read about. They have failed the country.

So now I take a question posed by CNN’s Jack Cafferty and ask you; is it time for a third party?

Is Hagel right that it may be time for a new political party? – [CNN]