The most basic concept embraced by the conservatives is REDUCED FEDERAL spending. When George Bush leaves office on January 20, 2009, he will leave behind a legacy that will prevent conservatives, for decades to come, from reaching their most basic goal i.e. reduced federal spending.
The reason is quite simple. The national debt by the time he leaves office will be approaching $10 trillion dollars. That will be an increase of $4.3 trillion and will make him the president who added more to the national debt then ANY other President. What is even worse, is there is no chance of a balanced budget by the end of his second term and that $10 trillion will continue to grow as the next president takes office.
Many people dismiss the national debt is just a number. The fact is that it mandates the American tax payers to pay the interest on the total debt. In 1980 the interest on the debt was $90 billion. In 2004, the interest on the national debt was $330 billion. Soon after George Bush leaves office, that number will escalate to approximately $500 billion per year. That means the debt will have jumped $170 billion from what it was in 2004 and will be the largest increase in federal spending ever and will ensure that the conservative objective of reduced federal spending will not take place and in fact federal spending will escalate since the interest payments are mandatory. If interest rates in the future go above the historic average, like in the 1980's, the interest will exceed $500 billion per year. 40% of that interest is paid to foreigners and adds to the fortunes of countries like China and Japan at the expense of the American tax payers.
Great job Mr. President you have not only betrayed your conservative base but have saddled the remainder of the country and its future generations with trillions of dollars in additional federal spending because you refused to equate taxes and spending.