What are the potential benefits and drawbacks of this system?

In this alternate history scenario, the United States underwent a revival following the Second American Revolution and the writing of the Constitution of 1920. The New Founding Fathers, led by Co-President James Reed, sought to revitalize the country due to political infighting and institutional decay. While they revered the Original Founding Fathers, they believed that a new Constitution was necessary to reflect the current state of the nation.

The new Constitution aimed to strengthen the executive branch and address the power struggles that had weakened the presidency and led to political instability and deadlock in Congress. The most significant reform was related to the Electoral College, which became a federal institution to ensure uniformity in elections, with Electors now directly electing the Co-Presidents on a single ballot. The Electoral College also became a standing institution that could oversee the Presidency continuously. Electors now voted every year to determine the confidence they had in the Co-Presidents, and failure to gain their support would result in the Co-Presidents' resignation. This change ensured quick accountability for the executive branch.

The executive branch became the center of political power, but it was no longer vested in a single individual. The Co-Presidents, known as the Triumvirate, collectively held executive power. The decree powers were clearly defined, requiring unanimous consent from all Co-Presidents and later an enabling act from the Council of States. The Vice President's role was redefined to act as a liaison between the Co-Presidents and the legislature, officially representing the Administration in the legislature as a non-voting member.

The Cabinet was clarified and gained significance during the reformist Co-Presidency of Alan Berkley. Powers were delegated from the Co-Presidents to the Cabinet, including the authority to submit bills to the Council of States, which transitioned from the Vice President to the Cabinet. The Cabinet, though largely an advisory body, became the de-facto center of the executive branch, exercising much of the executive power.

The bicameral Congress of the old United States was abolished and replaced with the unicameral House of Representatives. Term limits were introduced, allowing representatives to be reelected only once. The House retained significant powers, including creating legislation, confirming general nominees such as the Vice President and the Cabinet, and making judicial appointments to certain courts with a two-thirds majority vote.

The judicial branch underwent considerable changes, reflecting Reed's ideals. While he advocated for a directly elected Supreme Court with fixed terms, a compromise was reached, maintaining the traditional appointment method but limiting court members to 20-year terms. Additionally, the Constitution of 1920 established the Constitutional Court to monitor the constitutionality of federal government actions and resolve disputes involving the federal government and interstate issues. Another significant creation was the National Tribune, inspired by the Roman Tribune of the People, which served as an investigative chamber with the power to investigate possible violations of laws and regulations by federal officials and raise impeachments. The Tribune was insulated from partisan politics by being indirectly elected by state legislatures, expanding its oversight to include state, county, and local governments.

Overall, the Constitution of 1920 brought about substantial changes, strengthening the executive branch, reforming the electoral process, restructuring Congress, and introducing innovative elements to the judicial system to foster accountability and effective governance in this alternate history of the United States.