The George H.W. Bush’s response to the bleak economic outlook was to cut down the taxation in the economy except for the high income people.
Economic outlook is defined as forecasted expectations for the economy's performance during the next quarter, year, or other time period.
Expectations for inflation, unemployment, productivity growth, and the balance of trade are all part of an economic outlook.
Evidence reveals that tax cuts notably for high-income households did not boost economic growth or pay for themselves, but instead increased deficits and debt, as well as income inequality.
Therefore, the Bush response to the bleak economic outlook.
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