An excellent post by Scott Sumner

One key point that caught my attention:

To summarize, I see little evidence to support the claims of either the Democrats or Republicans. The tax bill is certainly not revolutionary, although it does have some useful reforms. But it also boosts the budget deficit, which is bad for investment. There has been increased regulation in some areas and reduced regulation in others. In addition, there have been no significant moves to slow the growth in overall government spending.

Read the whole blog entry.  Scott Sumner is always worth reading.