THE NEWS FROM AMERICA IS (WHAT ELSE COULD IT BE?) BILL Clinton – America's first first-name-only-please President, informality and accessibility being hallmarks of democratic populism in the 1990s. It might seem as if this is the roller-coaster presidency: if you do not like Clinton's bad (good) reputation today, just wait a month and you can be sure that things will have turned upside down. When I started this piece in the spring, he was way, way down; today just a few months later, following a successful Japanese trip (his weak rivals in the G-7 group made him look good), his two successful judicial appointments (Ruth Bader Ginsberg to the Supreme Court and Louis J. Freeh to the FBI), his paper-thin but indispensable budget victory in the Congress, and his shepherding of the historic Israeli-Palestinian peace protocol, he's looking good. By the time you read this, however, he's likely to be down again, or perhaps down but once again up. His political career has been on a rollercoaster from the start and the media seem determined to keep him and the country rocking — and rolling.