At least Ramesh Ponnuru thinks so, and I tend to agree. Here’s his conclusion:
Beneath Messina’s distortions lies a real and important debate. Is our welfare state basically healthy, just in need of a few tweaks to restore its fiscal health? Democrats believe, or claim to believe, that if we just raised taxes on the rich and let experts redirect Medicare spending, we could keep the open- ended entitlement programs on which we have come to rely.
Republicans, on the other hand, tend to think that our entitlement programs are structurally flawed in a way that neither tax increases nor better management can solve. Republicans do not want to abolish these entitlements. Their view is that they should be limited, and made to work with rather than against markets.
The Democratic view has a strong base of support among voters. Even those who share the Republican view, as I do, cannot be sure it will win in the court of public opinion. If Romney and Ryan do prevail in November, it will mean that voters accept the need to modernize the welfare state — and this election will end up having been the most important one since 1980.
The rest of his article and all of his reasoning can be found here. Worth a read.