Synopsis: Fiscal conservatism is dead. Embrace it.
Good synopsis.
You see, the emergence of the GOP as the majority party came with the Christian Right. The defection of blue collar voters over cultural issues from a Democratic Party dominated by activists and cultural leftists. Well, these new Republicans never stopped being New Deal Democrats on economic issues. They were never the heirs of "The Business of America is Business" Old Guard Republicans. They are the heirs of Williams Jennings Bryan, of his mix of economic and cultural populism.
On economic issues, the Bush second term agenda is contemptuous of the needs and interests of blue collar Americans. This article very intelligently sees that.