Which statement best describes economic conditions when President George H. W. Bush took office?

A) The United States had a booming economy.

B) The United States had a growing national debt.

C) The United States had a balanced budget.

D) The United States had entered a depression.

When President H. W Bush took office (from 2001 to 2009) the United States had a balanced budget, and things were going pretty well;. The economy was not yet in recession, but there were indicators of coming recessions. It is likely that recession was not his fault. But Bush made things worse with his tax cuts, and expenses after 9/11. Things returned in the short run, but his policies led to the crisis in 2008.

The United States had a balanced budget.

Explanation:

President George W. Bush assumed his first term after the Clinton administration.

The Clinton administration was marked by the recovery of the economy, which bittered fiscal deficits and indebtedness. During the Clinton administration, public finances were put in order and the country experienced the longest economic growth in recent history. Thus, Clinton left a legacy of prosperity, with low levels of unemployment and balanced budget for his successor, George W Bush.