This poll is hardly surprising. What it means is that either the Dems continue to slide left and lose to Bush in 2004 or the party continues to fracture and Nader gets more votes in 2004 than in 2000 leading to another Bush win. The election is a light-year away in political time, and anything can happen, but unless Bush really screws up or there is another 9/11 his reelection seems very likely.
Yahoo! News - Moderate Democrats Warn Party on 2004 Prospects