North Carolina became the tenth state to recognize No Labels as a political party this week.

The non-profit group behind the effort seems to think there is a moderate majority in America that wants to move away from the two-party system. Leaders of the New Labels Party are now toying with offering a presidential ticket in the 2024 election to tap into what they think is a dissatisfaction with the status quo.

Veteran journalist Gerald Seib has been reporting on the No Labels movement. “As I go around the country and talk to people, I get asked all the time, why isn’t there a third party?” says Seib, who last year retired from his role as executive Washington editor for the Wall Street Journal. “They say why isn’t there an alternative?”

Seib recently published an essay in his former paper titled “Could a Third Party Finally Do It?” He joined Diane to talk about the history of third party candidates – and why this might be the election we see one break through.