In 2001 the administration rammed through long-term tax cuts, heavily tilted toward the affluent. But employment didn't turn around, and by late 2002 many economists ? including supporters of the original tax cut ? were urging it to try something different. My own piece, "My Economic Plan," was fairly typical: I called for extended unemployment benefits, temporary aid to state and local governments, and rebates for low- and middle-income workers.Maybe this more or less textbook response to a depressed economy wouldn't have worked. But we'll never know, because the administration rejected all such proposals. Instead, it went for a clone of the 2001 tax cut ? another big break mainly for those at the top. And once again this failed to deliver the promised jobs.
Meanwhile, Mr. Bush has mortgaged the nation's future. If all of his tax cuts are made permanent, they'll reduce revenue by at least three times the amount that would be needed to secure Social Security benefits at current levels for the next 75 years.
No sensible person blames Mr. Bush for the onset of the recession in 2001. But he does deserve blame for the fact that all he has to show for three years of supposed job-creation policies is a mountain of debt.
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