Tax cuts do not mean reduced tax revenue, and, as a Reagan admirer, you should know that. The Medicare Bill, as faulty as it is, will not mean the end of tax cuts.
Additionally, I believe Bush will go back to this issue, and get more reform, just as he did with the second round of tax cuts.
My father-in-law is a lifelong democrat and he thinks Bush took what he could get and will be back for round two.
I tend to agree. There are many loathsome parts to this bill, especially the money for illegals. But it is a start. If Bush and the Republicans presented anything more sweeping, it would have been kicked to the curb by Dems, period. I, too, believe this is just a 'foot-in-the-door' type of win. Round two will be a blast.
The same 'start small' approach happened with vouchers and the 'No Child Left Behind Act', if I'm not mistaken. I'd look for the same thing to happen with partial privatization of social security next.