The presidency of George H. W. Bush began at noon EST on January 20, 1989, when George H. W. Bush was inaugurated as the 41st President of the United States, and ended on January 20, 1993. 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. In 1991, Bush sought fast track authority, which grants the president the power to submit an international trade agreement to Congress without the possibility of amendment. Despite congressional opposition led by House Majority Leader Dick Gephardt, both houses of Congress voted to grant Bush fast track authority. NAFTA was signed in December 1992, after Bush lost re-election, but President Clinton won ratification of NAFTA in 1993. NAFTA remains controversial for its impact on wages, jobs, and overall economic growth.
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