Times are different now than in Reagans term. We now have a global economy, and tax cuts do not create american jobs, they just create demand for asian products, and thus create asian jobs.
A jobless recovery will not get rid of the deficit today, because people that lost their jobs to asian and communist chinese, do not pay taxes.
In a global economy the free traders must push for increased taxes to be paid by those who still have jobs - it is the only way to balance the budget in the free trade economy that they want.
Until then, conservatives will NOT forgive bush for having trillion dollar deficits, that is not conservative.
Clinton's 1993 budget included a section on intergenerational taxation which concluded that maintaining the power and cost of federal bureaucracies at their 1993 level would require the average child born in the U.S. in 1993 to pay 82% of their lifetime earnings in federal taxes. Intergenerational taxation was dropped from the 1994 Clinton budget, and subsequent budgets, when it was determined that the bills passed by Congress in 1993 and signed into law had caused the projected lifetime federal tax rate on a child born in the U.S. in 1994 to rise to 84%. Dramatic reduction in the power and cost of federal bureaucracies, not higher taxes, will reduce the exploitation of America's children by Washington politicians and powerful special interest groups.