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11/26/2003 Archived Entry: "Supply-siders"

BUSH TO DISAPPOINT SUPPLY-SIDERS: David Hogberg has a great piece in the mighty American Spectator On-Line on the conflict between President Bush's supply-side principles and his desire to build the Republican Party. This conflict has manifested itself in the form of trade protectionism, new entitlement programs and out-of-control non-defense discretionary spending intended to win the support of certain constituencies and key states for the GOP.

I agree with Hogberg. The only thing I would add to Hogberg's piece is that supply-siders themselves have been pretty slack on spending, setting the stage for Bush's performance on fiscal policy. Many supply-siders, from Larry Kudlow to Jack Kemp, tend to argue that cutting tax rates is more important than cutting spending, and where spending cuts endanger tax cuts the former should be abandoned. That being said, supply-siders have never counseled Washington to abandon spending restraint wholesale. An important piece to ponder for 2004 and, should Bush be reelected, beyond.