Cengel protests:
Tax cuts as, “textbook Keynesian socialist action”? Since when have socialists, Keynesian or otherwise, ever been in favor of tax cuts (in theory or in practice)?
Textbook Keynesian calls for accomodative fiscal and monetary policy in times of economic contraction in order to “smooth out” the business cycle. It also calls for restrictive policy measures when the economy begins to “overheat”, which on the fiscal side never happens.
His support for the combination of tax cuts and spending boosts during the 2002 recession indicates that far from being a conservative, George Bush is a Keynesian Republican in the Nixon mode.