The 2001 Economic Growth and Recovery Tax Act was George Bush’s version of Barack Obama’s stimulus plan. However, instead of creating a bunch of temporary government jobs and subsidizing the expansion of government, it cut tax rates, increased the child tax credit, increased the standard deduction for married couples, and increasing contribution caps for a variety of savings programs. The result? The recession ended in November of 2001. (Source) But, September 11, 2001, happened as the economy was recovering and throughout 2002, the economy grew at an anemic rate. The Jobs and Growth Tax Relief Reconciliation Act of 2003 revved...
