Let's see.
When Bush entered office, the FedGov expenditures were 2 trillion dollars per year.
When he will leave, they will be 3 trillion dollars per year.
He has overseen the greatest growth of non-defense discretionary spending of any President since FDR, including LBJ.
Questions?
After the 9/11 attack the massive increase in government spending coupled with lowered tax rates were seen as necessary to stabilize the economy. It was actually a successful mix of Kenyes and supply side economic theories. Bush's policies didn't come about in a vacuum.
Another round of tax cuts, preferably on businesses is what we need right now. I would like to see the 35% business tax rate lowered to 25%.
Once the economy rebounds the president should announce a budget freeze (maybe just an increase = to inflation) across the board. The Fed can start slowly raising rates then also.
Raising taxes on anyone is not what this economy needs.
Questions?
As far as Powell is concerned, I was never comfortable with him, especially after learning more about his positions on the issues.