No. You cannot use the one ring to fight the enemy. It must be destroyed. A great president once said that government is not the solution to our problems--it is the problem.
There is no enumerated power in the Constitution that specifies the Federal Government has the authority to fund the arts.
The Four pillars of Conservatism:
1) Limited Government
2) Obedience to the Rule of Law
3) Rights of the Individual
4) Personal Responsibility
This proposed spending by Bush violates 3 of the 4 (#'s 1,2, and 4).