Lacy graduated from Vanderbilt University with a bachelor's degree in political science and history.

In 1983, Lacy left the White House to become a senior account executive at Decision Making Information, a polling firm.

From 1985 to 1986, Lacy returned to President Ronald Reagan's administration to serve as White House director of political affairs.

Following the 1996 presidential election, Lacy left politics and worked for seven years as vice-chairman and CEO of the Sophie Mae Candy Co., a business operated by his family.

[3] From 2004 until 2021, Lacy served as the director of the Robert J. Dole Institute of Politics, located at the University of Kansas.