Read the book. Bush wasn't handed a run-of-the-mill economic pullback, let alone a correction. To call it a "bubble" minimizes enormous severity of the economic situation in the late 90s.
Actually the lax rules of the economic excesses (the ability of CON execs to commit fraud) that was a major cause of the bubble were passed (over a Clinton veto) by the GOP control congress on their "contract ON America" by the Newt clan.
When XYZ Corp starts loosing money they don't start spending more money. They cut costs and start trying to put themselves on the road to higher revenues. Not in 10 years but now. This is the real failure of the Bush Administration. They accelerated the revenue decline and increased spending. Sure revenues have declined since 2000 but the Administration did not respond by cutting spending. They chose rather to cut taxes. This is (in my word of the day) feckless.
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