Former Reagan economist exposes the Bush administration's radical departure from fundamental conservative principles
And explains why it may cost the GOP the presidency and its congressional majority
Impostor: How George W. Bush Bankrupted America and Betrayed the Reagan Legacy
by Bruce Bartlett
George W. Bush is widely considered -- by liberals -- to be one of the most politically conservative presidents in history. But many on the right have a different perspective. Among the latter are Bruce Bartlett, a highly respected Republican economist and an alumnus of the Reagan White House, who in 2000 was an eager supporter of George W. Bush (and even helped to craft the President's early tax cuts) but has since become disillusioned by his big-spending, government-expanding ways. Now, in Impostor: How George W. Bush Bankrupted America and Betrayed the Reagan Legacy, Bartlett attacks the Bush administration's economic performance root and branch -- showing how Bush has made no effort to restrain the growth of government, greatly increased domestic spending, created a new entitlement program for prescription drugs, failed to veto a single bill, and expanded both the size and scope of government in many ways quite apart from national defense and homeland security. Bartlett also explains why the Bush policies will have serious economic consequences for the country - and possibly fatal political consequences for the GOP.
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"I write as a Reaganite," explains Bartlett, "by which I mean someone who believes in the historic conservative philosophy of small government, federalism, free trade, and the Constitution as originally understood by the Founding Fathers. On that basis, Bush clearly is not a Reaganite or "small c" conservative. Philosophically, he has more in common with liberals, who see no limits to state power as long as it is used to advance what they think is right. In the same way, Bush has used government to puruse a 'conservative' agenda as he sees it. But that is something that runs totally contrary to the restraints and limits to power inherent in the very nature of traditional conservatism. It is inconceivable to traditional conservatives that there could ever be such a thing as 'big government conservatism,' a term often used to describe Bush's philosophy."
Highlights of Bruce Bartlett's penetrating critique
Medicare expansion: Why the new "prescription drug benefit" may be the worst legislation in U.S. history, and will cost the nation vast sums it can't afford
How the Medicare drug benefit will inevitably lead to higher taxes and price controls that will reduce the supply of new life-saving drugs
Why the chief "beneficiaries" of the drug benefit will not be hard-pressed seniors, but big corporations
Why the Bush tax cuts have accomplished relatively little economically. Why many of its provisions are the tax-equivalent of pork-barrel spending -- costing revenue while doing little or nothing to increase economic growth or improve the structure of the tax system
Why Bush may ultimately be responsible for the largest tax increase in history, as the inevitable result of his policies -- though it may not come on his watch
Why the inevitable tax increase will probably a European-style value-added tax (VAT)
How the Administration's policies are developed with little analysis or forethought, then rammed through a compliant Congress -- leading to both economic and political mistakes that could have been avoided
Why the Bush White House has the worst record on free trade since Herbert Hoover
Why Clinton was actually better on the budget than Bush -- vetoing bills because they cost too much (Bush hasn't vetoed a single one) and significantly reducing overall government spending (Bush has massively increased it)
The Regulatory President: how, after promising to roll back Clinton's regulatory excesses, Bush has sacrificed principle to politics and allowed regulation to flourish
Why Bush's policies have far more in common with Nixon's than Reagan's -- especially in his failed attempts to woo moderates by enacting liberal programs (like Medicare expansion) that harmed the economy and GOP fortunes
Why, thanks to the Bush economic policies, Republicans are likely to suffer significant losses in 2006 mid-term elections -- and possibly the Presidency in 2008
