Those who preach small government could learn a few lessons if Ron Paul were to really get the Republican nomination. A true libertarian in a more purist sense, Paul supports really cutting things like the military. Other Republicans talk small government and taxes, but still continue to support things like Homeland Security, Veterans benefits, the military, border patrol, Medicare and so forth. Things American people have become dependent on. Talking low taxes, but not cutting back on these things means deficit.
Libertarian thinking, which really would call for cutting back the government, is a good discussion point. A discussion point that could be turning Republicans inside out especially if Ron Paul were to get the nomination.
Still, I would hope Obama wins the presidency. Libertarian ideas make for an interesting part of the discussion, but small government would not provide the safety net, civil rights protections and environmental protections that we need, not to mention things like federally funded research and development. Libertarians would most likely lead to a world dominated by corporations and the most powerful. Even worse than today.