Weird. The GOP historically defined itself as a fiscally responsible party…they’ve always blasted the Democrats for being too loose with the purse strings. Times sure have changed.
President Bush inherited a budget surplus of $128 billion when he took office in 2001 but has since posted a budget deficit every year.
The Bush administration has spent heavily on the wars in Iraq and Afghanistan, and faces a large budget shortfall in tax revenue because of Bush’s tax cuts and a souring economy.
A Democratic point man on the budget, Sen. Kent Conrad of North Dakota, blasted the administration for its “reckless fiscal policies,” blaming the president’s tax cuts for driving the government into deficit and saying Bush “will be remembered as the most fiscally irresponsible president in our nation’s history.”