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With the inauguration of George W. Bush for a second term in office last January, the pertinent matter now consists of elucidating which sectors in his Administration will have the greatest prominence in formulating United States foreign policy over the next four years. Often, the dilemma is posed in exclusive and, if one permits, somewhat simplifying terms: who will prevail, the neo-conservatives or the realists? The present article, while not aiming to avoid the differences existing between the two currents, which, deep downare smaller than what they seem to be at first sight, adopts a different perspective. Realists and neo-conservatives are presented as two non-contradictory, but rather necessarily complementary, variants in a foreign policy programme orientated toward guaranteeing the timeless hegemony of the United States in a threatening and changing world.