Economic Policy of The George W. Bush Administration - Fiscal Policy

Fiscal Policy

During the George W. Bush administration, the federal government spending was increased from $1789 billion to $2983 billion (70%) but the revenues were only increased from $2025 billion to $2524 billion (25%). Individual income tax revenues were increased by 14%, corporate tax revenues by 50%, customs and duties by 40%. Discretionary defense spending was increased by 107%, discretionary domestic spending by 62%, Medicare spending by 131%, social security by 51%, and income security spending by 130%. Cyclically adjusted, revenues rose by 35% and spending by 65%.

Also proportionally Bush increased government spending more than any predecessor since LBJ (including).