(FORTUNE Magazine) – Bill Clinton campaigned and won as a New Democrat, launched his presidency as an unapologetic liberal, and is now rushing to the center for political survival. Gone are civil rights activist Lani Guinier and, for the moment anyway, the BTU tax and labor-backed hikes in the minimum wage. Instead we've got centrist Supreme Court nominee Ruth Bader Ginsburg, more emphasis on spending cuts -- and a string of lunches with such business leaders as Warren Buffett and Lodwrick Cook, CEO of Arco. But will the new new Clinton last? Good chance, say Democratic insiders. Congressman Dave McCurdy, a leader of House moderates, says Clinton finally gets it. ''The near defeat of his reconciliation bill in the House was a near-death experience. Now he understands that to succeed he must build a center-out coalition of Democrats and Republicans.'' That is particularly true of the top issues on Clinton's agenda after reconciliation, including health care reform and NAFTA. But can Clinton stand the heat from the left? Enraged over his dumping of Guinier, the Congressional Black Caucus won't even meet with him. The gray lobby is mounting a campaign against Medicare cuts and higher taxes on Social Security income. Labor will battle over NAFTA. Just saying no to such old friends will be real proof that Bill the New Democrat is back.