I guess the heart of this debate is whether or not a President, or government in general, has any effects on the nations economy. I am of the opinion that the government plays a large role in the economy, larger than any other factor. I also believe that consumer confidence is the single most important factor to a strong economy.
What I have seen so far from Bush is that his Administration is ignoring the economy. Again, Im of the opinion that the government has a role in the economy, and I have seen next to nothing done by this Administration to help the economy. Im not just talking about things I think will help the economy, but I havent even seen anything from them that they feel will help the economy.
Bush's tax cut was a "reward". It was a thanks to "all the hard working americans", because the great economy of the 90s was "their fault" and they deserved a reward for their hard work. Thats what he told us while campaigning for President. He said the government didnt make the economy, the people did, and because they did a good job they should get money back. Of course by that rational, he blames the american people for our current economy and he should take money to punish them. After the economy slipped, he pushed the same tax cut, only under the guise of an economic booster. Given that the economy was just starting to slip, with consumer confidence just starting to fall, unemployment just starting to rise, and earnings growing at a decreased rate; the best thing to do would have been to issue a tax cut. However, the tax cut needed to be aimed at businesses, to help them hold ground and prevent layoffs. Business tax cuts are the surest way to help a sluggish economy early on. Preventing layoffs keeps unemployment under wraps, and helps consumer confidence. Bush didnt do that, he gave an enormous tax cut to the people instead, much larger than what would be remotely considered fiscally responsible.
Since his tax cut "aimed" at helping the economy, he has done nothing. He has ignored domestic issues of all sorts, including the economy for over a year now, only focusing on the war on terror. Even now, he is looking at increasing spending even more than last year, despite the fact that the sluggish economy hasnt shaken off yet, and revenues arent as large.