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Bush in Concord, New Hampshire signing to be a candidate for president
meanwhile, proposed a financial rescue plan to buy back a large portion of the U.S. mortgage market. Vince Reinhardt, a former Federal Reserve economist now at the American Enterprise Institute, said "it would have helped for the Bush administration to empower the folks at Treasury and the Federal Reserve and the comptroller of the currency and the FDIC to look at these issues more closely", and additionally, that it would have helped "for Congress to have held hearings". In November 2008, over 500,000 jobs were lost, which marked the largest loss of jobs in the United States in 34 years. The Bureau of Labor Statistics reported that in the last four months of 2008, 1.9 million jobs were lost. By the end of 2008, the U.S. had lost a total of 2.6 million jobs. Bush undertook a number of educational priorities, such as increasing the funding for the National Science Foundation and National Institutes of Health in his first years of office, and creating education programs to strengthen the grounding in science and mathematics for American high school students. Funding for the NIH was cut in 2006, the first such cut in 36 years, due to rising inflation. One of the administration's early major initiatives was the No Child Left Behind Act, which aimed to measure and close the gap between rich and poor student performance, provide options to parents with students in low-performing schools, and target more federal funding to low-income schools. This landmark education initiative passed with broad
bipartisan support, including that of Senator Ted Kennedy of Massachusetts. It was signed into law by Bush in early 2002. Many contend that the initiative has been successful, as cited by the fact that students in the U.S. have performed significantly better on state reading and math tests since Bush signed "No Child Left Behind" into law. Critics argue that it is underfunded and that NCLBA's focus on "high stakes testing" and quantitative outcomes is counterproductive. After being re-elected, Bush signed into law a Medicare drug benefit program that, according to Jan Crawford Greenburg, resulted in "the greatest expansion in America's welfare state in forty years;" the bill's costs approached $7 trillion. In 2007, Bush opposed and vetoed State Children's Health Insurance Program (SCHIP) legislation, which was