THE PRESIDENCY: Fun on the Sawdust Trail

The Presidency/Hugh Sidey

Not long ago, Charls E. Walker, former Deputy Secretary of the Treasury and current nabob of conservative political influence, was elegantly dining near the White House when suddenly he leaned back, exhaled a cloud of smoke from his Montecruz cigar and exclaimed: "Damn, politics is fun again!"

That may seem a novel thought to pop up this campaign season in the midst of so much hand wringing over domestic economics and somber warnings about nuclear war. Yet there is a truth there.

Walker's point was not that life will be any easier, nor will there be so much laughter,...

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