<Yes, but the 'con' doesn not refer to Condoleeza, but to 'conservative'. Neocon is word used to describe these type peoples.
I think it's pretty obvious it's about Bush and his administration of hoods. Rumsfeld, Rice, Cheney...>
Also described as "The Hawks".
One of the coolest things in the stones' lyrics is the double and triple meaning, which gives us plenty of room for speculation