What if Colin Powell was president in place of George W. Bush? There are roughly two scenarios that I can envision.
First, he becomes a great or perhaps an above average president: a latter-day Eisenhower who presides over a decade of peace abroad and prosperity at home.
Under this scenario, I figure he avoids the entanglements of the War on Terror, perhaps by reacting more forcefully to the August 2001 intelligence memo that predicted a 9/11, or by mounting a limited intervention in Afghanistan in the aftermath of 9/11 that takes out Bin Laden at Tora Bora.
Domestically, he leads the GOP toward a more moderate direction, toning down the social conservatism of the base and attracting huge segments of African-Americans and other minorities into the Republican fold. As to what his signature domestic policy initiatives would be, beyond standard-issue Republican tax cuts, I don't know. But I imagine towards the end of his term, something like the Great Recession still takes place owing to long-term structural trends in the way Amercia's de-regulated financial system is take place. So, for the most part, he's a great and very popular president but leaves office on a sour note due to the troubled economy.
The second scenario is one based on an observation about Powell that despite his proven leadership credentials as a solider and General, his record as Secretary of State showed how politically weak or malleable he was as he so easily he caved into the neoconservative agenda on Iraq, despite his personal opposition. If as President, the various ideological constituencies within the GOP (Wall Street, neocons, so-cons) prevail over him in the same way, then the Powell administration might be just turn out to be a slightly more competent and articulate and a marginally more moderate version of the George W. Bush administration.
There's obviously more than can be said beyond these two rough scenarios, but what do you think a Powell 2000 presidency would look like in terms of its political orientation, policy record and historical legacy?