Democrats & the Economy: History Lesson #4
George H. W. Bush inherited a robust economy from Reagan. He even pledged, “Read my lips: no new taxes.” If only he had stayed faithful to that pledge. He did reject new taxes from a Democratic Congress a number of times, but as part of a budget deal in 1990, he allowed some taxes to be raised. That angered his conservative base, a base he would need in the next election. In early 1991, after the success of the Gulf War, Bush’s approval rating was… Read more »