Further lessons can be gleaned from the experience that followed the George W. Bush tax cuts enacted in 2001. At that time, as a result of intervening tax increases, the top individual rate stood at 39.6 percent. By then, however, the budget deficit had been entirely eliminated during the Clinton administration, and budget surpluses were realized in each of the final four Clinton budgets. The national debt had continued to rise during the Clinton years, but not as dramatically, reaching $5.8 trillion. The Bush tax cuts reduced the top individual rate back to 35 percent and significantly reduced the capital gains rates. Once again there was no effort to reduce spending. The very first Bush II budget erased a $128 billion surplus and replaced it with $158 billion deficit. By the end of the Bush II administration, the costs of the wars in the Middle East, a prescription drug benefit in Medicare, and the bank bailout helped produce the first trillion dollar deficit. The national debt skyrocketed to $11.9 trillion.