Texas Gov. Rick Perry, like most of the other the GOP presidential hopefuls, says his campaign is about undoing the decisions of President Obama. But Perry also presents a stark alternative to the last Republican to occupy the White House, his fellow Texan George W. Bush. In his writings and speeches before he entered the race, Perry shared the view, widely held among conservatives, that Bush’s government spending habits in office were a betrayal of the GOP’s core fiscal principles. But Perry went further, dismissing “compassionate conservatism,” the central tenet of Bush’s domestic policy, as just more overreach by the...