Soccer Mom: Unplugged

Supply-side conservatives are calling it like is it with respect to the national economy. President Bush's biggest failings in office have less to do with the war on terror, immigration policy, or hurricane Katrina and more and more to do with the nominal changes to the tax code which have created an even more bloated system of loopholes and regulations than ever. 

President Bush isn't alone in his failures at fiscal policy - Congress, as always, is mostly to blame.  But, then, Congress didn't promise to simplify the codes and improve the American tax system either.  The policy, albeit it warranted in some areas, of excessive spending combined with tax cuts has left the nation with a projected deficit that is astounding.  The number of tax regulations has grown over Bush's term by 40%.  The failure to remain true to fiscal conservatism has many Republicans outraged and demanding a return to tighter purse strings and much more accountability and restraint in Washington.

Supply-siders have pointed for nearly thirty years to the failings of the high-rate, progressive tax systems and yet the government has done little or nothing to bring about reform.  The Bush tax cuts were a good start but they will not likely become permanent and the increasing number of allowances and loopholes only creates more wiggle room for those who wish to avoid handing their money over to the IRS.

President Bush is left with egg on his face over this issue and Congress, always the real villain when it comes to tax legislation has failed miserably.  And yet, we can only wonder if the midterm elections will reflect any of the discontent felt by conservative economists.  The vast majority of Americans are concerned with issues other than the national deficit and the real impact of global finance is an almost abstract concept to middle class workers for whom having enough is, well, enough.  The long-term impact of living in the red nationally, much like living on credit at home, is fixable.  But it requires restraint and an overwhelming will.  With three more years of George W. Bush in the White House, conservatives need to push the envelope when calling for limited government spending.  And the President needs to prioritize the agenda with a much stricter hand.

Very good articles on this issue:

http://www.usnews.com/usnews/opinion/articles/060501/1edit.htm

http://www.economist.com/displaystory.cfm?story_id=E1_GRDNGRG