Economic policy of the George W. Bush administration
![Deficit and debt increases 2001-2008.](/Images/godic/202501/02/Deficits_vs._Debt_Increases_-_20080703.png")
![President Bush signing the Economic Growth and Tax Relief Reconciliation Act of 2001 in the White House East Room on June 7, 2001](/Images/godic/202501/02/Economic_Growth_and_Tax_Relief_Reconciliation_Act_of_2001_Signing0704.jpg")
![U.S. Current Account or Trade Deficit.](/Images/godic/202501/02/U.S._Trade_Deficit_Dollars_and_percentage_GDP0704.png")
![Leverage ratios of investment banks increased significantly between 2003 and 2007.](/Images/godic/202501/02/Leverage_ratios_for_major_investment_banks.svg0704.png")
The economic policy of the George W. Bush administration was a combination of tax cuts, expenditures for fighting two wars, and a free-market ideology intended to de-emphasize the role of government in the private sector. He advocated the ownership society, premised on the concepts of individual accountability, less government, and the owning of property.