Did Reagan call W a ne'er-do-well?

The following quote has been passing around and being attributed to former President Ronald Reagan's personal diaries:

A moment I've been dreading. George brought his ne're-do-well son around this morning and asked me to find the kid a job. Not the political one who lives in Florida. The one who hangs around here all the time looking shiftless. This so-called kid is already almost 40 and has never had a real job. Maybe I'll call Kinsley over at The New Republic and see if they'll hire him as a contributing editor or something. That looks like easy work.

While this would be great fodder for further criticism of George Bush, it's not a direct quote from Reagan. Apparently it was a 'joke' written in a column by Michael Kinsley, who used to be the Editor at The New Republic.

Oh well. Good thing there's plenty of other things to criticize him on.