That’s what he wants us to think. He’s come out with a one-two punch aimed at winning back conservatives who have become disenchanted with the free-spending Republican Congress in which he played a big part. He has hit on two red-meat conservative issues in the past two days, first with a speech at the Heritage Foundation addressing the need to cut spending, then with an op-ed in the Washington Post addressing the need for fundamental tax reform.

I think this shows that DeLay is in the fight of his life to stave off an election that would permanently replace him as House Majority Leader — a position from which he was forced to step down after Ronnie Earle got a grand jury to indict him on trumped-up charges.

I have defended DeLay vigorously from Earle’s wrongful prosecution and will continue to do so. But I found certain aspects of DeLay’s comeback strategy a little off-putting. For instance, according the Houston Chronicle account of his Heritage speech, DeLay appeared to be blaming the Democrats for the spending problem, saying, “Where are the moderate, accountable New Democrats who could help us restrain spending, reform antiquated federal programs and offset the costs of the looming Katrina recovery?” To which one might reply, “Where are the magical leprechauns who could lead us to their pot o’ gold?”

The more important question is, “Where have the conservative Republicans been while Congress and the President spent money like drunken sailors for the last five years of Republican dominance?”

The op-ed on tax reform was better. When he wants to, DeLay can be a forceful advocate for the best conservative ideas. I liked this paragraph:

Meanwhile, reforming the individual tax system would also provide a long-overdue opportunity to drain the corporate welfare, special-interest morass of our current corporate tax structure.

Of course, these words would pack more punch if DeLay hadn’t spent so much of his political energy getting cozy with K Street.

I think Ronnie Earle’s indictment of Tom DeLay is bogus, and Earle should be run out of Texas for the lines he has crossed. I don’t think DeLay deserves to lose his leadership post for good, because he was illegitimately deprived of it. But I also think he has a ways to go before he can win back fiscal conservatives.