As George W. Bush entered his second term as president, he had implemented a number of important pieces of his political agenda. In the beginning, it was thought that Bush's political agenda would be good for business, however; many analysts felt the policies hurt economy, devalued the U.S. dollar and jeopardized international economic relations. In his first term he implemented major tax cuts and dealt with international trade issues. In his second term, he was focusing on social security reforms, new energy policies and tort reforms; however, within the Republican Party there were a number of distinct groups, each with its own agenda. There was only one policy they all agreed on, reducing tax rates, but the tax cuts implemented in 2001 had created annual deficits and threatened to destabilize the country. Whether Bush's policies would really be good for U.S. business was hotly debated.
