This is the question progressives everywhere are asking and nodding to each other in agreement ... on their intellectual superiority for even asking the question.
Of course, they would like to believe it does not, and that they can just replace it with whatever they want. But nothing gives them any authority to do so except their nebulous reference to "Democracy".
Did you see the cover story of Time Magazine last week? Constitution in the background, and the words "Does it Still Matter?" over it?
Aaron Worthington at Patterico did a pretty good job taking the article to task.
But seriously, you gotta ask these people ... if it doesn't matter, then what are we basing our system on currently? Who decides what matters? How is that decided? Did we not come up with a document over 200 years ago that addressed these questions?
If it does not matter, are we just making it up as we go along? And if we are, who is "we"? Candidates talk a good game and then do whatever the hell they want once in office, because if it doesn't matter, what's to stop them? What if they just decide not to hold elections and have their successors apointed when they die? Why not? I mean, if the Constitution doesn't "still matter".
Hell yes it still matters! And it's high time We the People and the Politicians start paying real attention to it.