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Bush Says He's Concerned About Economy
September 18, 2008 10:58 AM
ABC News' Julia Hoppock reports: President Bush today said he was concerned about the state of the financial markets and announced that he cancelled his scheduled trips to Alabama and Florida in order to focus on the economy. Bush was slated to attend two GOP fundraisers, but has sent Vice President Cheney in his place.
"The American people are concerned about the situation in our financial markets and our economy, and I share their concerns," he said in his first public statement on the economic crisis since the government bailed out insurer American International Group.
In his two-minute speech, Bush did not specifically outline what further actions would be taken to ease one of the worst financial crises since the Great Depression, but said that he had met with Treasury Secretary Henry Paulson and would meet with him again this afternoon. The president tried to reassure the American public that the federal government would be actively engaged in working to stabilize and strengthen the struggling market.
"As our recent actions demonstrate, my administration is focused on meeting these challenges. The American people can be sure that we will continue to act to strengthen these financial markets and improve investor confidence."
Bush took some heat this week for not addressing the economic crisis more directly; his last public remarks were made Monday. In a press conference yesterday, White House spokesman Dana Perino said that Bush was apprehensive about holding a news conference, in general, because he didn't want to distract from the presidential campaign.
"I grant you, that it's been a while," Perino told reporters. "And I understand that people want to hear from the president during this time."
September 18, 2008 | Permalink | User Comments (98)
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a day late and a dollar short - as usual! Heck of a job, Bushie!
Posted by: hang | Sep 18, 2008 12:03:52 PM
puhleeez! the only thing bush is/has-been concerned about is getting scripts without any "s" "st" or "ts."
as with gustav, the economic crisis is a convenient excuse...a republican fundraiser's sigh of relief.
Posted by: lostrax | Sep 18, 2008 12:07:55 PM
I think we really need McCain to take care of this mess on Wall Street.
Obama has no major accomplishment. He flip flops on everything. He has no core and he doesn't have the wisdom. He is a left-wing George W. Bush.
Barack "GWB" Obama, is unit to be anything.
Hopefully, McCain will win the election.
Posted by: Roger Miller | Sep 18, 2008 12:09:17 PM
Bush is trying to save his own aqq he cares nothing abiut this country and baby it shows .He is a false front .this would not have happpened if this government had been on top of things....Including a certain man who has been in Congress for 26 years.He can not do any bettter then Bush His counter part is a Bush clone scaryyyyyy
Posted by: indp voter | Sep 18, 2008 12:10:19 PM
Hey watching, I though she had already palyed the games with Charles Gibson.
Posted by: jenny | Sep 18, 2008 12:12:32 PM
Good Judgment or blindness? Politics with a “change”---only a fool would believe! Obama takes MONEY from these companies and has NO IDEA!!!!!
Obama Ranks Second Among Donations from Lehman
Obama Bundlers are Top Executives at Lehman Brothers
Obama Ranks Second Among Donations f29rom Fannie Mae And Freddie Mac Among All Members Of Congress Since 1989
Posted by: Mike | Sep 18, 2008 12:13:04 PM
Hey, don't pick on Bush. Yes, he's a dim bulb BUT he's the guy everyone wanted to have a BEER with - wasn't HE? Now we have a potential Vice President who people like because of her glasses and shoes.
I think the voters deserve who they get. Wake up, folks. Bush has always been a dim bulb - even before he was elected!
This is serious stuff (let alone 4,000 + lives lost and thousands more injured for life) because voters base their leadership choices on who they would like to have a BEER with.
Elect your President because of ability. Pick your Beer Drinking friends because of their good ol'boy behavior or their looks and who their Mom and Dad might be.
WAKE UP! folks - we can't really afford to make a stupid decision for the 3rd time in a row.
Posted by: LMJ | Sep 18, 2008 12:13:31 PM
We have been asked more than once whether we are financially off now than 8 years ago. Let's flip the question and ask ourselves whether financially we are still able to pay the bills and groceries and the basics of life?
Except for the people directly affected by the housing crisis such as investors in financial institutions and subprime or hocked-to-the-tilt variable-rate borrowers, I can't imagine how things have been more difficult for most people. Even with gas at $4 a pop, most people who drives to work locally still drive to work.
Phil Gram was not sensible when he made the 'whiny' statement, but he might have thought of most people who complain but don't really get affected much by the current turmoil.
Posted by: Obama-Yah-Wright | Sep 18, 2008 12:15:37 PM
BMR do you eally think that there are no soldiers who are democrats, and that all republicans are un-selfish? Naming a party does not define who you are and what you stand for. I want less government and more freedom, but I also think a woman has the right to choose and that any two adults, or more for trhat matter, should be allowed to marry. I don't think matters of faith has any place in lawmaking. I think our schools should be the best in the world and I am willing to pay the taxes to make that happen. There are national priorities that will need to be paid for by taxes, states cannot do everything alone. taxes are the price we pay for a civilized and free society. Giving tax breaks to big business increases their bottom line, business pricipals dictate that you increase staff as a last resort. Trickle down has not worked, ever. Free market does not mean unregulated market. A responsible free market requires rules and framework. In this country we are all supposed to have equal promise. Whether you are born rich or poor. That is not the way it is, and that situation has gotten much worse the last 8 years.
Posted by: Jason | Sep 18, 2008 12:16:31 PM
Finally he addresses this mess. I think Congress should be addressing this too, as they are just as culpable.
McCain saw this coming and in 2005 made a proposal that no one listened to.
COUNTRY FIRST McCAIN/PALIN
Posted by: Emma | Sep 18, 2008 12:18:18 PM
Roger Miller? Are you really comparing Barrack Obama to George W. Bush? Now that's a stretch. With logic like that I can see why you might vote for McCain and why you probably voted for Bush twice.
Bush/McCain policies have failed.
Posted by: Say What? | Sep 18, 2008 12:18:55 PM
The loudest advocates for McCain are the ones who voted for George W. Bush in 2000 and 2004. Now, they've disowned him and act like McCain is going to reform the very deregulation he supported throughout his 25+ years in the Washington.
You don't call the guy (the republican policies)who wrecks your house and ask him to rebuild it?
Posted by: SET | Sep 18, 2008 12:23:33 PM
O-Y-R
The issue is that if you would making about $60K 8 years ago, you are still making about that now, or if you have had some moderate success you may be making as much as $80K today, the problem is that $80k today does not buy what $60K did 8 years ago. I make more than I did 8 years ago, but the basics have increased at a faster pace, so no, I am not better off. That and i never thought I'd see the day of having a Republican against a tax cut.
Posted by: Jason | Sep 18, 2008 12:24:58 PM
Anyone that has voted for bush twice really needs to do this country a favor and sit this one out, because you have proven that you absolutely have no common sense.
Posted by: pt | Sep 18, 2008 12:26:50 PM
Free markets work. Let them. No exceptions. None. Bailout compromise the divine beauty of free markets.
Posted by: joe | Sep 18, 2008 12:30:16 PM
joe
it isn't the free market that is tanking. There are not people that are producing goods and selling them. There are people that are dealing in fund exchanges and money lending.
I find that most people that like to throw around the term 'Free Market' like the way it sounds but have no concept of how macroeconomics works and why bailing out these companies is a no brainer to make sure that all of companies associated with them stay operational.
Posted by: Jason | Sep 18, 2008 12:35:14 PM
Let's all do our part, to see to it that the Bushes and Cheney get their rightful place in history, and their rightful place in the afterlife. The way I see it, History can be a dog, and I genuinely hope all the Bushes are hydrants. Over 90% of America's debt has come about with a Bush in the Whitehouse.
Posted by: james | Sep 18, 2008 12:42:27 PM
Bush could have come on during prime time and made an attempt to quell the current anxiety. The crisis deserves that sort of attention from our president. Every day that home prices go down is another day that the financial future of the middle class erodes. Bush is gunshy because he and Phil Gramm and John McCain have helped deregulate the stock market and banking industries. McCain is now trying to paint himself as favoring govt. regulation... but check his record and his statements from earlier this year. McCain's campaign rhetoric is fraudulent. McCain is one of the architects, along with Phil Gramm. He helped enable this mess.
Posted by: Steve from Danville | Sep 18, 2008 12:42:34 PM
John McCain will probably try to distract voters today or tomorrow with some other "celebrity-lipstick-media hating-patriotic" message. Why? Because his stance on regulating banks and stock brokers has been to DEREGULATE. It's been one of the cornerstones of his campaign for years. Please don't be fooled by the John McCain who now talks out of both sides of his mouth. Sorry to say: the new McCain is a fraud.
Posted by: Steve from Danville | Sep 18, 2008 12:47:46 PM
Let us recap...
Polosi: "Hey don't blame us."
Reid: "We don't know what to do."
Biden: "Raising taxes is patriotic."
Obama: Has no comment!!!
McCain: "I would fire the chairmen."
McCain: "Americans want us to stop yelling at each other." 09/18/2008
Obama: Tells supporters "Argue and get in their faces." 09/18/2008
Posted by: checks and balances | Sep 18, 2008 12:50:03 PM
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