"Reagan is going, the revolution stays." The billboards adorn the dusty roadways of Managua, a pitiful yelp of triumph in an exhausted country that has little else to celebrate. Yet the Sandinistas can cheer at least this: while Ronald Reagan will be just another private citizen in two months, Daniel Ortega Saavedra -- the man Reagan once called a "dictator in designer glasses" -- will remain firmly at the helm of a government that the White House terms an "outlaw regime."
For Reagan, it is a disappointing conclusion to one of his most persistent campaigns, and certainly his most passionate. Throughout...