Bush, a Republican, took office after a landslide victory over Democrat Michael Dukakis in the 1988 presidential election. Following his defeat, he was succeeded by Democrat Bill Clinton, who won the 1992 presidential election. He also led an international coalition of countries which forced Iraq to withdraw from Kuwait in the Gulf War, and undertook a U.S. military invasion of Panama. Though it was not ratified until after his presidency, Bush signed the North American Free Trade Agreement, which created a trilateral trade bloc consisting of the United States, Canada, and Mexico. In domestic affairs, Bush faced a large federal budget deficit that had grown to threefold since 1980. Despite having pledged not to raise taxes, Bush agreed to a budget with the Democratic-controlled Congress that raised taxes and cut spending.
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