during his two terms (2001-2008), president bush averaged 19.0% gdp spending, slightly below the 19.2% gdp spending under clinton (1993-2000). however, revenues of 17.1% gdp were 1.3% gdp below the 18.4% gdp average during the clinton era. further, cbo had forecast in 2001 that revenues would average 20.4% gdp during the 2001-2008 period (above the fy2000 record of 20.0% gdp), while spending would average 16.9% gdp and be on a downward trend, very low by historical standards.