"Has George Bush squandered anything?"
This question has been asked (seriously!).

Let me count just a very few of the ways (there are many more).

He started with a taxing/spending $5.6 Billion budget surplus over ten years and converted it to more than a $5 Trillion Deficit to cover the same ten years. (This has happpened in only 5 years!!! And there are almost 3 years remaining in his administrative term!!)
What have we to show for it so far is the loss of the lives of more than 2300 young men and women and the health of the bodies of many thousands more in a vain tilt-at-windmills effort to remove WMDs and Al Qeda from Iraq. Funny thing — there doesn't seem to have been any WMDs or Al Qeda in Iraq. Some think there was some squandering there. Some don't.

Most agree that our real enemy in the Middle East is Iran, but we seem to have become bogged down in a civil war in Iraq which leaves us with little strength to do anything about Iran, where there are likely soon to be WMDs, if there are not already. Also there is the determination to use them against us or Israel by direct deployment or by arming terrorist groups with them. Some consider this whole lack of strategy on our part to have been a squandering of our military and moral strength.

The irony of it all. Here were Iran and Iraq at war for years. Had we kept our noses out of it they would probably have worn each other out, instead of us wearing ourselves out in Iraq with Iran waiting in the wings for an opportunity which we have now perhaps presented them. The other side of the coin is that an  opportunity for us has been squandered.

After 9/11 we were a superpower that was both admired and feared throughout the world. That good will and fear has all but evaporated, squandered by the actions this administration has taken in Iraq and at home. His widely quoted statement that rather than taking advice from his father George H. W. Bush about invading Iraq, he took advice from his Father of higher powers made him appear to be a religious fundamentalist nutcase, hearing voices echoing from the mountainsides. Widely rumored were his private statements to foreign heads of state that God had directed him to invade Afghanistan and then had directed him to invade Iraq. These rumors have added to that idea and further reduced trust for much of the more rational world. Now much of that world is as likely to sneer at the power of the United States as to hold it in esteem. That seems to be a squandering.

And yes, there is something personal about it when I watch the roots of the most noble experiment in governance being ripped and torn by sneakily instituting methods and efforts that favor religious organizations with what is called faith based programs, an underhanded way to allow religions to feed from the federal trough — allowing the camel to get his nose under the edge of the Constitutional tent. This approach was fended off by Jefferson and Madison as something anathema to the goals of a free republic and freedom of religion. Here we have fratboy who comes along with a “better idea” than the giants of American Government design, pushes it down our throats with the help of some “born again” people whom I can’t believe have thought the problem through beyond GB's last swig of Jim Beam and I’m not supposed to take it personally? No, I do take it personally, and I believe this is a squandering of major proportions, perhaps not to be felt immediately, but generational aches are often of the deepest and most intractable pain.

I would say this short litany qualifies as squanderings by this administration, led by none other than George Bush.