- Medicare Drug Benefit. This was really the final straw for me. The Medicare system was already $50 trillion in debt in 2003 and we should have been looking for ways to cut its spending, not increase it. The unfunded liability of just the drug benefit added another $18 trillion to that debt, an increase of 40 percent. Sooner or later, this legislation is going to cause a massive tax increase, in my opinion and that of many budget experts.

The book details many other areas where I feel that Bush’s policies are totally contrary to Ronald Reagan’s. Readers can judge for themselves whether my indictment holds water. The reaction I have received thus far suggests that a lot of conservatives share my concerns and believe that Bush has done deep damage to the conservative movement and the Republican Party.

The last time a Republican president—Richard Nixon—sold out his party’s core beliefs, it led to huge losses for his party in 1974 and 1976. I think Republicans are deluding themselves if they believe that gerrymandering of the House of Representatives and millions of lobbyist dollars will protect them from big losses this November. It’s worth remembering that Republicans took control of Congress in 1994 not because more Republicans voted, but because fewer Democrats did. They, like many Republicans today, were dispirited by a president of their party who took their loyalty for granted.

I think Republicans are also wrong to assume that Democrats will always behave as stupidly as they have lately. One of these days, they are going to get their act together and stop nominating lousy candidates who run awful campaigns. Once Republicans lose the votes of those who are only voting against the Democrats, not for them, they will be in serious political trouble.

I wrote my book so that Republicans and conservatives can start a debate about the future of the party and the movement. If we wait until 2008, it will be much too late. It is important for potential Republican presidential nominees to start thinking about and articulating a vision for the future now. And Republican voters need to ask themselves whether they are satisfied with the direction George W. Bush has led them or whether they would really prefer to get back to the policies and philosophy of Ronald Reagan.

Ed. Note: Impostor: How George W. Bush Bankrupted America and Betrayed the Reagan Legacy is now on sale at the Townhall Book Service for 23% off the cover price.