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First a word about the '82 and '84 elections. Let's begin with the President . . .

Will Reagan run for a second term? Observers look for obscure clues in his remarks. Even the popular comic strip, Doonesbury, plays with the question. One Reagan biographer, Lou Cannon, predicts his subject will bow out after four years.

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But another political writer and sometimes speechwriter for Reagan cabinet members offers the theory that the President will feel the trouper's strong urge to return for a ''second act.''

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