What is a quick summary of what George W. Bushs economic policies have accomplished?
President Bill Clinton left office with an unprecendented economic boom, and the public finances in their strongest shape. After inheriting a $290 billion surplus from Clinton, George W. Bush has piloted the U.S. into a vast ocean of red ink — The latest White House estimates, project a federal deficit of $475 billion, figures that actually understate the scope of the problem by applying a $150 billion surplus from the Social Security trust fund — The actual government deficits will top $600 billion, according to the White House projections. President Bush’s policies will have serious economic consequences for the nation, and possibly political consequences for the GOP — George W. Bush may ultimately be responsible for the largest tax increase in history, as the inevitable result of his policies — though it may not come on his watch.
