This article examines, in light of the competing Reagan-Bush and Clinton models of presidential regulatory oversight, whether “categorical separationism,” as a theory of constitutional law, promotes political accountability. The Reagan and George H.W. Bush administrations adopted a legal theory that, with a few explicit exceptions, the Constitution contemplates a stark compartmentalization of government powers as legislative, executive, or judicial; once a power is found to be executive, neither Congress, nor court may limit it. This reasoning culminated with the activities of the now-defunct President's Council on Competitiveness, headed during the Bush Administration by Vice-President Dan Quayle. The Council vigorously advocated a theory of the executive branch in which the President's policy roles, even in domestic affairs, are broadly discretionary, dischargeable in secret, relatively immune to congressional scrutiny, and subject to judicial review only in rare instances. Conversely, Executive Order No. 12,866, President Clinton's successor to the Reagan-Bush oversight system, pays significant deference to a theory of separation of powers more attentive to checks and balances—the idea, in particular, that Congress is first among co-equals in domestic policy making and that the Founders expected the three branches of our national government to hold one another to account. This article argues that the Clinton model of regulatory oversight promised a significant gain in political accountability. In essence, its promised diffusion of authority did not weaken accountability, but strengthened it.