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The Bush administration also launched trade negotiations with New Zealand, Thailand, Kuwait, Malaysia, Qatar, South Korea, Colombia, and Panama, with some being completed during President Obama's first term in office (2009–2013). However, Bush resorted to protectionist policies on occasion.
The economic policy and legacy of the George W. Bush administration was characterized by significant income tax cuts in 2001 and 2003, the implementation of Medicare Part D in 2003, increased military spending for two wars, a housing bubble that contributed to the subprime mortgage crisis of 2007–2008, and the Great Recession that followed.
George W. Bush during his presidency of 8 years from 2001 to 2009 signed 56 signature pieces of legislation. Major ones of these included USA PATRIOT Act, Joint Resolution to Authorize the Use of United States Armed Forces Against Iraq, Job Creation and Worker Assistance Act of 2002, United States-Chile Free Trade Agreement Implementation Act, Controlling the Assault of Non-Solicited ...
Bush also began emphasizing the importance of spreading democracy worldwide, stating in 2005 that "the survival of liberty in our land depends on the success of liberty in other land." Pursuant to this newly interventionist policy, the Bush administration boosted foreign aid and increased defense expenditures. [112]
The Bush Administration’s policies frequently undermined state-led environmental efforts. One prominent example was the administration’s reinterpretation of the Clean Air Act, which aimed to reduce the scope of regulatory authority granted to states.
Although generally an opponent of gun control, Bush has shown support for certain gun-restrictive policies. [31] Following a shooting spree in Atlanta in July 1999, Bush announced his support for a ban on high-capacity magazines and an increase of the legal age for firearms from 18 to 21, calling these "reasonable measures."
Treasury Secretary Timothy Geithner attacked the Bush administration's tax policies as "misguided," saying that renewing the Bush tax cuts for the highest-earning Americans would worsen the budget ...
The Bush administration's policy towards China faced the difficult task of sustaining the cooperative US-China relationship in the context of China's rise. China's success in economic development since the 1979 reforms had allowed Beijing to transform growing Chinese material wealth into political and military power. [ 76 ]