Should millennials form their own third party?

It's a question that's gaining traction in light of increasing Millennial disenchantment with the two party system.

The Tylt recently asked its readers if Millennials should form their own party, citing a Reuters/Ipsos poll which found that Millennial support for either of the two main parties in America has waned sharply in recent years:

"The online survey of more than 16,000 registered voters ages 18 to 34 shows their support for Democrats over Republicans for Congress slipped by about 9 percentage points over the past two years, to 46 percent overall.Although nearly two of three young voters polled said they do not like Republican President Donald Trump, their distaste for him does not necessarily extend to all Republicans or translate directly into votes for Democratic congressional candidates."

Noting that in 2016 "eight percent of Millennials voted for candidates other than Hillary Clinton or Donald Trump," The Tylt speculates as to whether a Millennial wave will change the face of the Democratic Party, leading it in the direction of Bernie Sanders-style socialism, or result in the creation of an entirely new third party by and for Millennials.

The Nation has a bleaker prognosis for the Democratic Party, suggesting that, "When it comes to economics, the [Democratic] party is in danger of losing young voters to the GOP," and averring that money matters will likely fuel Millennial revolt against the party of Jefferson:

"Right now, there is no generation of Americans more squeezed and economically vulnerable than they are. On average, millennials are earning 20 percent less than boomers did at the same age. Meanwhile, student debt has reached an all-time high, and recent studies have shown that millennials have very little money saved for retirement. They are urgently in need of policies that create more economic stability for more people."

But for all the Democratic Party's flaws, the Republican Party hardly looks better to a majority of millennials. Two out of three millennials, for instance, are hardly enamored with Donald Trump.

And just last Fall, an NBC News/GenForward poll of Millennials found a whopping 71 percent think there should be a third major political party. Only 26 percent of respondents said they believe the two main parties are currently doing an adequate job of representing the American people.

The Moderate Voice paints a picture of how it could pan out:

"With the current state of hyper-partisan polarization in American politics between Democrats and Republicans, plus a definitive ideological divide within each of the two parties, perhaps a generational sorting of the political landscape might also emerge over the horizon.Imagine this: An electoral field of competition in future state and congressional elections featuring five parties: traditional Democrats, old-school Republicans, an Independent Party, a Liberal Party and a Conservative Party. Millennials might jump at the opportunity and turn the Liberals into a Millennial Democratic Socialist Party."

But warns would be socialist revolutionaries:

"The newbie generation can form a splinter group but if they’re pigeon-holed as the party of 'free stuff' – healthcare, college tuition, child care... they won’t get very far."

What do you think?

Should millennials form their own third party?