The Economist weighs in today on President Bush’s renunciation yesterday of the free trade religion and return to protectionism with the imposition of a 30% tariff on steel imports. He’s not even halfway through his first (and, God willing, only) term as President, and he’s already plunged us headlong into deficit spending, proposed a Reaganesque defense budget, and imposed tariffs to protect decaying American industries. We also have an Attorney General more comfortable with the moral climate of the Victorian period, and Cold War dinosaurs running the Defense Department. Honestly, things are much worse than I had feared when Bush was “elected.”