March 14th, 2008
12:45 PM ET
10 years ago

Bush: Economy facing 'tough times'


Bush addressed the Economic club of New York Friday (Getty Images)

NEW YORK ( - President Bush acknowledged Friday the country was facing challenges both in the housing and financial markets, but said that the strength of the underlying economy would help it maneuver through this difficult period.

Speaking before The Economic Club of New York, Bush said he was confident that the government action take so far would help get the economy back on track.

"Theses are tough times," he said.

He also called on Congress to take additional steps to help alleviate the woes resulting from the housing crisis, including reforming government-sponsored enterprises Fannie Mae and Freddie Mac. He also pushed lawmakers to modernize the Federal Housing Administration and to extend tax cuts on capital gains and set to expire in the coming years.

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soundoff (88 Responses)
  1. Todd C.

    haha, I forgot Bush was still the President.

    how depressing!

    Let's talk more about Obama.

    March 14, 2008 01:15 pm at 1:15 pm |
  2. jhs

    Duh........did you just realize that?

    March 14, 2008 01:15 pm at 1:15 pm |
  3. Grif

    Lets get this thing going. Lets move it along...

    March 14, 2008 01:17 pm at 1:17 pm |
  4. nick

    As the lite Redd Fox would say on Sanford and Son" You big dummy".

    March 14, 2008 01:18 pm at 1:18 pm |
  5. Tired in California

    Wait a second. I'm confused. Last week Bush said we were just having a small rough spot that our government checks would take care of. I'm also futher confused. Don't Republicans tout themselves as the party of a strong economy and robust fiscal growth?

    Would it be possible that we have been misled? Geesh, President Bush, I know you've got a short-timer's attitude (we all saw you dancing the Texas Jig while you awaited McCain's arrival the other day) but could you do SOMETHING?

    There is a small town in Texas that's missing an idiot.

    March 14, 2008 01:18 pm at 1:18 pm |
  6. Barry

    Please tell me that's not a typo and he actually said "theses"

    March 14, 2008 01:21 pm at 1:21 pm |
  7. Doug R.

    Let's all remember it was the policies of Bush, his administration, and Congress who got us into this economic predicament. Mr. Bush could care less about the American people.

    March 14, 2008 01:52 pm at 1:52 pm |
  8. Kelley

    No kidding GW, how did you figure that one out

    March 14, 2008 01:53 pm at 1:53 pm |
  9. Greg

    Bush created the mess we are in and, now he expects the american people to listen to him and keep believing in his plan. He must be dumber than he sounds. And as you all hear, that's dumb.

    March 14, 2008 01:53 pm at 1:53 pm |
  10. rich t.

    Come on Dubya say it.............RECESSION

    March 14, 2008 01:54 pm at 1:54 pm |

    Get the Hook. He will try to win our broken hearts and walltetswhile he still has a chance. Smirkey Cheney along with Mr. Bush. Makes me

    March 14, 2008 01:54 pm at 1:54 pm |
  12. jay

    DUH!!!!!! Somebody give this guy a cookie he just realized what's been going on. Geesh!!!! Is it November yet???? Please hurry and get this guy out of the white house.

    March 14, 2008 01:55 pm at 1:55 pm |
  13. Marvin Geer

    Bush says, "These are tough times".


    Wasn't it Bush who raised the debt ceiling? If we can print more money doesn't that effect the value of the Dollar?

    March 14, 2008 01:56 pm at 1:56 pm |
  14. -K-

    Wow what a jerk, he does not know the price of gas is going up, but says the economy is going to stablize with his tax package. I wonder does anybody remember the last time he gave out the $600 for taxes did anybody figure out that it raised your taxes the very next year by the $600, because you had to pay taxes on that money also. This is such a waist of money when it could go back into our economy to drive down oil prices, help with housing, help with familes. Instead with send Trillions of dollars to Iraq and other countries. Hey Bush why is our dollar so weak, oh yeah it 's the strong economy that you guided us too. Thanks for nothing.

    March 14, 2008 02:11 pm at 2:11 pm |
  15. Enough Already

    What an idiot.......9 more months.......9 more months........

    Tick Tock.......Tick Tock.....9 more months......of this idiot...

    Please just shut up and sit down SILENTLY AND GO AWAY.....

    March 14, 2008 02:13 pm at 2:13 pm |
  16. Shannon Shiflett

    maybe it's because of bush's criminal war that will cost us as much as 3 TRILLION dollars?

    by the way, where is OSAMA BIN LADEN???????

    March 14, 2008 02:13 pm at 2:13 pm |
  17. Adam, Los Angeles

    Did someone just now fill you in GW?

    Oh and btw, I just paid $4.01 / gallon for gas today.

    March 14, 2008 02:18 pm at 2:18 pm |
  18. Bob NY

    Why isn't my posting listed?

    Oh...., this must be the BASH BUSH posting for pandering to the liberal(CNN) base.

    March 14, 2008 02:18 pm at 2:18 pm |
  19. John Starnes Tampa Florida

    Could we expect any better from a spoiled rich kid who ruined every business he touched, and left Texas a shambles? It was this UNelected President who took a huge budget surplus that paying down the deficit that generates hundreds of billions of dollars in interest annually, and with the sheer genius combination of a hyper-expensive war of choice, and the previously unimaginable tax cut for the wealthy DURING war time, and replaced that with record breaking national debt and trade imbalances that siphoned credit and cash out of America's economy. Where ever Bin Laden is, surely he chuckles daily at Bush's gutting of America on its most crucial levels, leaving our nation broke, alone and despised globally.

    March 14, 2008 02:21 pm at 2:21 pm |
  20. Dave

    So much hate in the world.

    March 14, 2008 02:21 pm at 2:21 pm |
  21. Mo

    dang I am so proud to have the most intelligent president on earth. He figured out that we're in trouble!! It would take 2 weeks for my 1 day old niece to figure that out!

    March 14, 2008 02:23 pm at 2:23 pm |
  22. Alex

    Cheney was underneath the podium, prodding him everytime he was in danger of saying the word 'recession'.

    He's worried about his legacy? Give me a break.

    March 14, 2008 02:23 pm at 2:23 pm |
  23. Al, NY NY

    Ol' Duh-bya is at it again. "We'll be OK...." "Good times are a-comin..." That is true, but only for his rich buddies. Of course his "stimulus" package is a big fat nothing. Most people are gonna spend the pittance they receive on reducing debt. Since he'll only be around for a few months after the checks go out (thankfully and not fast enough!), what does he care about how it affects people??

    March 14, 2008 02:26 pm at 2:26 pm |
  24. SS

    Acknowledging the belief that Americans are resilient to the effect of the Iraq on the economy, this also includes all of the people who have large tax cuts.
    When the Democrats take office our resilient and comfortable Americans will have to make the necessary sacrifices to help get the economy up and running again after paying for the price of war and oil. Yes this includes taking away tax breaks.
    He said it Americans are resilient. More or less saying I don't care what happens after I've made my money. You deal with it!
    I feel so comforted in knowing that our president expects us to pull ourselves up by the boot straps after creating a trillion dollar deficit.
    Thank you George W. Bush and the GOP I look forward to living each day trying to fix our wonderful and proseperous economy. Appreciate it!

    March 14, 2008 02:27 pm at 2:27 pm |
  25. Jenny, Rio Vista, CA

    What does he mean? They sure as hell ain't tough for him.

    This smug and arrogant man who thinks torture is a good thing is someone I take no notice of.

    March 14, 2008 02:28 pm at 2:28 pm |
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