In fairness, Greenspan had his hands in this fuckup as well. Greenspan basically lent his intellectual credibility to Bush's wartime tax cuts on the wealthy, which is basically the dumbest thing you can do as president. You
never cut taxes in wartime. Never ever ever. Greenspan should have known better.
Edit: Before someone tries debating this point, let me state preemptively that Bush is the first president in US history to cut taxes in wartime. This is a matter of fact and not of opinion.
Obligatory supporting link:
BW Online | April 7, 2003 | War Is Hell--on Bush's Big Tax Cut