There's a growing buzz among Republican power brokers that Colin Powell is the G.O.P.'s best alternative to Old Guard types like Bob Dole and Dick Cheney and should be the party's presidential candidate in 1996. At the same time, some Republican political consultants are telling Powell that he needs to build a power base, and that he should consider a vice-presidential slot in '96 and wait until 2000 to run for President. For now, Powell -- who has never publicly revealed his party affiliation -- is continuing to work on his $6 million memoirs.
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