BROOKS KRAFT / CORBIS FOR TIME

After winning re-election and claiming a mandate, the President and his No. 2 quickly squandered their political capital. Social Security reform, Iraq, Harriet Miers, Hurricane Katrina, the CIA-leak case, torture—on issue after issue, Bush and Cheney stumbled and saw their popularity drop. Although the team's numbers are improving somewhat, Republicans are facing next fall's midterm congressional elections with trepidation.


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