I've been a Republican since I was little, but I don't really like the title President. How about something more historical, more fitting, more British... like Lord Protector.
I don't see the problem with "President", personally. :/
It's just so generic, so dull. And British governmental institutions should be neither. Lord Protector, though, has style and a certain historic charm. Thinking along the same lines, we should be a Commonwealth, not a Republic. Why use a foreign word when there's a much nicer English one?
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