Cheney's CEO past seen as burden

"Questions will be raised, and that's why I think it's important that they release the information and move on," says Rep. Nita Lowey, chairwoman of the Democratic Congressional Campaign Committee. "I wouldn't want to travel around the country having that over my head."

In some ways, it's been a surprising turn of events for a man who was initially brought onto the ticket to provide a reassuring counterweight to the less-experienced George W. Bush.

Not only does Cheney now face questions of possible wrongdoing, he's also had his effectiveness as a corporate chief executive cast into doubt. His decision while at Halliburton to acquire another company, Dresser Industries, has proved to be a serious miscalculation, as liability costs from asbestos lawsuits that were under way against Dresser have soared.

Mr. Light says Cheney's trajectory as vice president has been quite unusual. Typically vice presidents expand their influence over the course of an administration, he says. Cheney started with an unusual degree of power – running the Bush transition and recruiting the cabinet and staff – and then watched his role grow smaller as Bush has gained more credibility and authority in the eyes of the public.

"I'd describe him as the vice president in reverse," Light says. "He has outlived his usefulness to the administration in some ways."

The White House, not surprisingly, disputes this notion. Press secretary Ari Fleischer recently told reporters that Cheney "continues to be a powerful asset, not only for the country but for the president." Indeed, Cheney remains a prominent shaper of the administration's foreign policy and its war on terrorism.

Likewise, Cheney's office disputes the notion that he's been hiding from the press. His spokeswoman notes that he has held a number of public events in recent weeks, and says it would be inappropriate for him to discuss an ongoing SEC investigation with the media.

Republicans say Cheney remains a welcome asset on the campaign trail. He has continued to raise money at a rapid pace, attending 44 candidate fundraisers since January, with at least 16 more scheduled before November.

Still, the controversy has given rise to new speculation that Cheney may step down at the end of the term. Many analysts had already viewed such a move as likely, both because of Cheney's diagnosed health problems and because he has repeatedly said he has no ambition to become president himself.

While it's highly unusual for a president to replace his running mate, Cheney has indirectly witnessed such a move before – he served as chief of staff to President Ford, who dropped Vice President Nelson Rockefeller from the ticket.

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