Hypothetical Third Party Politics

For my next book, I need a third political party in the US.* Do I: 1) revive the Bull-Moose party, 2) elevate a current third party or 3) invent a new one? I’m leaning towards option one, the Bull-Moose party, as a moderate majority between the Social Democrats (who are actual liberals with a european-style social welfare platform) and a GOP full of lunatics and klansmen. The way I see it, the Bull-Moose Party would absorb the fiscally conservative but sane moderates from both the GOP and Dems, leaving the liberals to form a Social Democratic party while the GOP remains a marginal party full of crazies and racists (that is: unchanged). This would better dramatize the peculiar politics of America in the 21st century, without getting into the false dichotomy of left/right ideology. Any suggestions?

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*This is of course a science fiction novel. I don’t for a minute think a working three party model would ever take hold here in the real world, at least not without military intervention, possibly by the benevolent army of Canada, who sweep down from the North to save our asses after we immolate our entire infrastructure over fear that possessing running water and electricity is the foothold of Dread Socialism.