Final answer:
The vast expansion of the national debt during George W. Bush's presidency was influenced by factors such as tax cuts, increased international borrowing, and deficit spending. The debt grew at a rate comparable to previous administrations, and events like Hurricane Katrina and the Iraq War also played a role.
Step-by-step explanation:
The vast expansion of the national debt during George W. Bush's presidency can be attributed to a combination of factors. Firstly, the Bush-era tax cuts and increased international borrowing in the early 2000s led to a significant inflow of money to the United States, making it easier for the government and individuals to borrow at low interest rates. This resulted in huge deficits in the balance of payments, with the United States accumulating debts equivalent to 5 percent of its gross domestic product (GDP).
In addition, previous administrations, including Reagan's, had tolerated deficit spending, which led to a growing national debt. Despite efforts to reduce the debt through small tax increases and spending cuts, the debt continued to grow at a rate comparable to the Reagan years.
Lastly, factors such as Bush's commitment to a Republican agenda, tax cuts for the wealthy, rising military spending, and events like Hurricane Katrina and the Iraq War further contributed to the expansion of the national debt during his presidency.