the economist’s goodbye to bush
Posted by Peter Owen | Filed under politics
George Bush’s presidency, what a disaster.
“I inherited a recession, I’m ending on a recession,” he noted at his press conference on January 12th. He wasn’t asking for pity, only to be judged on what happened in between. Unfortunately, that economic legacy is littered with wasted opportunity, bad judgments and politicised policy. The budget surplus he inherited is now a deficit, the fiscal hole in America’s retiree programmes is bigger than ever, the tax system is an unstable, patched-up mess.
It is not all his fault. But for the most part, good policy repeatedly took a back seat to Mr Bush’s overweening political ambition. Both the country and, ultimately, the Republican Party are left the worse for it.
