Did you graduate from high school? If so, were you asleep during US government?
1. The president cannot cut taxes. Only Congress has the power to tax and spend. Bush may have proposed the cuts, but a majority voting block comprised of Dem and Repubs approved them.
2. If you want to talk about social engineering, don't forget the War on Poverty (estimated to cost $20 trillion since 1960). This year alone, welfare programs will cost just under $1 trillion.
3. Congress is composed of both a Senate and a House. These bodies have switched between Dem control and Repub control several times since 2000. Congress spends the money, remember?