Let's call x the age of the first president bush, then:
Taking into account the sentence, "if you divide the age of the first President Bush when he was inaugurated by 2 and add 14 years you get the age of president Clinton when he was first inaugurated", we can write the following equation:
x/2 + 14 = 46
So, solving for x, we get:
x/2 = 46 - 14
x/2 = 32
x = 32*2
x = 64
Answer: The first president Bush was 64 years old when he was inaugurated.