Guardian Unlimited | US elections 2004 | Joseph Stiglitz: Bush is dead wrong: "The resounding answer is that Bush is to blame. Every president inherits a legacy. The economy was entering a downturn when Bush took office, but Clinton also left a huge budget surplus - 2% of GDP - a pot of money with which to finance a robust recovery. But Bush squandered that surplus, converting it into a deficit of 5% of GDP through tax cuts for the rich.


stiglitz on Bush's economic legacy.