THERE are all sorts of reasons to be puzzled by the state of today's Republican Party. How did the party of fiscal responsibility become the party of out-of-control spending? How did a party that prided itself on its foreign-policy skills become the author of the fiasco in Iraq? But from the narrow point of view of the election, an even more pressing question arises: how did the Republicans lose their ability to spot star power? A month before the primaries the Republicans have no idea whom to nominate. Rudy Giuliani? He's ahead in the national polls, but he lags in...