Sen. Chuck Hagel (R-Neb.), a man known for frank talk, offered a blunt description of the state of his party, which broke camp here Friday after nominating President Bush for a second term. "The Republican Party," he said, "has come loose of its moorings."

Hagel was not referring to Bush's leadership or his prospects for reelection but instead to the impact of a presidency that has seen the party embrace the largest deficits in U.S. history and a foreign policy that has put the United States at odds with many of its closest allies and heightened suspicion of institutions such as the United Nations.

"We're at the height of the Roman Empire for the Republican Party," [Republican Senator Lindsey] Graham said, predicting a Bush reelection and expanded majorities in the House and the Senate. "But the tide slowly but surely goes out."