What did George W. Bush predict about the economy in February 2001?
George W. Bush, President of the United States ·
I hope you will join me to pay down $2 trillion in debt during the next 10 years. … At the end of those 10 years, we will have paid down all the debt that is available to retire.
Public debt tripled: $3.3T → $10.1T
Bush said that within 10 years the U.S. would pay down all the debt available to retire. Instead debt held by the public rose from $3.34 trillion in 2001 to $10.13 trillion in 2011.
Debt held by the public rose from $3.34 trillion at the end of FY2001 to $10.13 trillion at the end of FY2011, and total public debt rose from $5.81 trillion to $14.79 trillion over the same period (U.S. Treasury, Debt to the Penny).
Prediction vs. outcome · Economy
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The claim
- Date
- Where
- Address to a Joint Session of Congress.