Yes, the ignition switches do go bad. I have replaced them on some of my Walkers. GEt the illlustrated parts manual out and look at the electrical diagram and trace back from the pTO switch back to the ignition switch. First test at the ignition switch to see if you have power. If you don't then ign switch is bad. Otherwise, if you have power at switch, you could have a break in the line somewhere. I can't remember, but there may be a fuse in the line that could have blown. If the fuse is blown try replacing it. If it works and doesn't blow again then it is probably ok. However if it blows again you may have a problem with the electric clutch. It may have shorted out. I hope not because the clutches are very expensive.
2-Walker 20 HP GHS, 1-Walker 26 hp GHS, 1-Walker 23 hp GHS, 42 and 48 GHS decks, 42 mulch deck, 42 discharge deck, 3-Honda WB, 3 Shind Trimmers, Stihl BR600 blower, Shind 260 edger, Two Shind Multi-tool with artic. clippers and chainsaw, Redmax 8000 blower, Redmax 7001 blower, Shind 803 Blower, Spyker walk spreader, sprayer for Walker mower, 3-Stihl chainsaws.