In 2001, President George W. Bush misled the American people. He said that a tax cut that was not designed to stimulate the economy would stimulate it, and the American people believed him. But it did not. He told Americans that the large surpluses that were among President Bill Clinton's legacies meant that the US could afford to cut taxes massively. Wrong again. He did not warn Americans how dubious such estimates can be.
In 2001, President George W. Bush misled the American people. He said that a tax cut that was not designed to stimulate the economy would stimulate it, and the American people believed him. But it did not. He told Americans that the large surpluses that were among President Bill Clinton's legacies meant that the US could afford to cut taxes massively. Wrong again. He did not warn Americans how dubious such estimates can be.