In these last days of George W. Bush’s presidency, much will be made of what the administration did over the past eight years — as well as the manner in which it was done. While Iraq, No Child Left Behind and the Patriot Act are all important, but deserving of equal consideration are the things Bush II failed to do. By failing to address the issues with Social Security and neglecting the fiscal conservatism that was supposed to be a hallmark of his party, GW has left his successor with a laundry list of soiled domestic (as well as foreign) garments that will require some serious detergent.
Under President Bush, the country slipped from a budget surplus back into deficit. In the last half century, only Bush II and Nixon have the dubious distinction of presiding over such a transition. The national debt has risen by 4.35 billion dollars in the last eight years — that is an increase of over 75 percent in only eight years.
Mirroring the current plight of our treasury is the social security system. As Social Security becomes decreasingly solvent, further strain will be placed on the already ballooning national debt. Despite a notable effort at the start of his second term, the social safety net remains headed in the same direction as it was before Bush took over: bankruptcy.
The scale of the problem is undeniably large. During the 1950s, about 16 workers paid into the system to support one retiree. Now one retiree is supported by about three workers. As baby boomers begin to retire, Social Security will begin paying out more than it takes in. In addition to no longer contributing its former $100 billion surplus to the budget, it will begin to require federal funds, besides the payroll tax, to survive. Those numbers are staggering to be sure, but their magnitude should have only served to provide imperative, not excuse.
For all the time and political capital Bush attempted to spend, he failed to rally moderate support even within his own party. Although some would claim his plan was torpedoed by politics as usual, Bush was instead a victim of his own policy. Previous suspect decisions left the latter years of the Bush presidency battered and bruised, limping, rather than cruising through legislative sessions.
In a recent interview Bush mentioned his failed Social Security initiative as an item that the he feels he should receive more credit for. I was disappointed when his interviewer failed to point out that in order to get credit, one should actually accomplish something. Although his partisans may insist his efforts have paved the way for future discussion on Social Security reform (a talk we will need to have sooner rather than later), the same can be said of his predecessor. Furthermore, issues as important as this do not need to have the way paved for them — they need to be solved.
History cannot be viewed in a vacuum, and even though Bush’s legacy will be judged upon its own merit, it will also be viewed in the context of his successor’s administration as well. So while Bush failed to tackle issues like debt and Social Security, or even address problems like healthcare, he may yet receive some credit if parts of his proposals are revived in the incoming president’s legislation. However, until that happens, these failures will continue to mar any historical analysis of the Bush II era. And no, he will not get points for trying.
