"The first year of the Bush administration we used up all of the surplus and ended up just with the Social Security and Medicare surplus, and each year worse than the year before"
About this Quote
Scott’s key maneuver is separating the surplus into two categories: the headline surplus and the “Social Security and Medicare surplus.” That distinction carries a dagger of subtext. He’s reminding listeners that much of the “surplus” was tied to payroll taxes earmarked for popular, politically protected programs; spending it elsewhere can be cast as borrowing from workers’ future benefits. In other words: even the good news wasn’t as free-and-clear as it looked, and the administration made it worse.
The time stamp matters. “The first year” and “each year worse” aren’t just chronology; they’re an indictment of trajectory. It’s meant to contest the idea that deficits were an unfortunate byproduct of shocks like recession or 9/11 alone. Scott’s framing points to policy choices associated with the Bush administration’s opening moves: large tax cuts, increased defense spending, and a looser fiscal posture. The intent isn’t to win a spreadsheet argument; it’s to assign moral ownership of decline, then make entitlement protection feel like the responsible position rather than the sentimental one.
Quote Details
| Topic | Money |
|---|---|
| Source | Help us find the source |
| Cite |
Citation Formats
APA Style (7th ed.)
Scott, Bobby. (2026, January 17). The first year of the Bush administration we used up all of the surplus and ended up just with the Social Security and Medicare surplus, and each year worse than the year before. FixQuotes. https://fixquotes.com/quotes/the-first-year-of-the-bush-administration-we-used-63013/
Chicago Style
Scott, Bobby. "The first year of the Bush administration we used up all of the surplus and ended up just with the Social Security and Medicare surplus, and each year worse than the year before." FixQuotes. January 17, 2026. https://fixquotes.com/quotes/the-first-year-of-the-bush-administration-we-used-63013/.
MLA Style (9th ed.)
"The first year of the Bush administration we used up all of the surplus and ended up just with the Social Security and Medicare surplus, and each year worse than the year before." FixQuotes, 17 Jan. 2026, https://fixquotes.com/quotes/the-first-year-of-the-bush-administration-we-used-63013/. Accessed 7 Feb. 2026.





