Most powerful people at some time focus of the legacy their tenure will leave. The Bush legacy will be multifaceted and the shapes of many of those facets are still unclear. For example the War on Terrorism will be circumscribed by what finally happens in Iraq. The issue of Bush's response to Katrina will depend on how the rebuilding of the Gulf region progresses.
One issue that is cast in stone is the impact his tax and spend policies will have on the federal budget in the years after he has left office. From an economic impact, the rapid escalation of the National Debt started in 2001 and the enormous increase in the interest American tax payers will be required to pay as a result of the Bush policy will be both long term and catastrophic. When Bush took office America already had a large deficit and was paying about $230 Billion EVERY year in interest on that debt. By 2010, the interest that the American Tax Payer will be paying will be approaching $500 Billion per year. The interest we will be paying every year will more then double.
The average person has no idea what $500 billion means. It is about 10 times more per year then the reported net worth of Bill Gates. $500 billion would pay the prescription Drug cost under Medicare for about eight years for the interest we will be paying EACH year. The interest Americans will pay in two years would rebuild every, school, bridge, dam water/sewer system and electrical system that is in need of rebuilding in America. $ 500 billion is more money then we spend on national defense. $500 billion is more then all other non-entitlement government expenses. The sad reality is that this money will not provide for ANY OF THE CURRENT NEEDS of our people. This annual blood letting pays for past years when we were not willing to pay for what we spent! Almost all this interest is the result of the very same policy - Cut taxes while increasing spending. It started in 1981 with Reagan and restarted anew with Bush in 2001. It was the refusal of both Reagan and Bush to balance the budget. It is very basic - When you choose how much you want to spend then you MUST set the tax rates at a level that will equal the amount you have chosen to spend. In the past that was called the Balanced Budget Amendment.
Some say the most lasting action of a President is his Supreme Court appointments. In the case of Bush, his fiscal policy will outlast any court appointments and impact the lives of 100 % of Americans. The money it will require to pay the added interest resulting from Bush will added to our future taxes and restrict money for far more important needs or our country! What a SAD legacy for ANY President to leave to future Americans.