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

Bush: Economy facing 'tough times'

ALT TEXT

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

NEW YORK (CNNMoney.com) – 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. Ben

    I am right down the block from him at this moment, and trust me, you can smell the stink all of the island of Manhattan. Enough bush, you are over, we want Clinton back now!!!

    March 14, 2008 02:28 pm at 2:28 pm |
  2. Walter NJ

    Please explain how Bush policies have effected the credit crunch and not the American populations speculation for greed? Yeah, lets see, i can't afford a house, but i'll buy it cause the price will go up forever... Forever. Makes sense Doug. Point the finger at anyone but ourselves. I'd hate to work with/for you looking for a scapegoat, take ownership.

    March 14, 2008 02:30 pm at 2:30 pm |
  3. Saad

    Oh my God- President Bush is actually saying something on the economy! I don't remember the exact date but somewhere in New Mexico in an economic forum around 18th month into his first term, President Bush replied to a question about White House spending by saying...

    Accounting is not easy... it is a very difficult thing... I have been in the White House for over 18 months and I am still trying to figure it out....

    Anyone who says President Bush has not made improvement during the years is just simply wrong ::))

    March 14, 2008 02:31 pm at 2:31 pm |
  4. Sal in Phoenix

    It will take years for the Democrats to get us back to where we were after Bill Clinton left us with a surplus..I don't know about you but I'm hurting..

    March 14, 2008 02:37 pm at 2:37 pm |
  5. Richard, FL

    It is indicative of what America thinks of Bush's intelligence that we aren't sure that the statement "Theses are tough times" is a typo error or something that he said because he doesn't know any better.

    March 14, 2008 02:38 pm at 2:38 pm |
  6. vjh

    I gues GW woke up from his nap ! Go back to sleep ...

    March 14, 2008 02:39 pm at 2:39 pm |
  7. Craig A. Carroll Hastings, MN

    What we need to do now of course is elect a liberal tax and spend socialist with all the answers (Obama) or another corporate hack named Clinton and we can all go gloriously down the tubes together. And PLEASE don't even mentioned Bush clone McCain. As Ollie used to say to Stanley, "Here's another fine kettle of fish you've gotten us into." Well folks. You elected this dimbulb twit. Not once but twice. Hope you're happy.

    March 14, 2008 02:39 pm at 2:39 pm |
  8. mary cleveland, ohio

    Today the New York Federal Reserve Bank took steps to bail out a huge bank there, Bear Stearns (I think). So, what is happening all over the country is the government allowed these crooks in the mortgage and bank markets to steal and cheat people to the point our economy is taking a HUGE HIT.

    What do we do? The same thing we do whenever the fat cats get too greedy, the same thing we do when the President sends our people and money to Iraq, or oil goes up, WE THE PEOPLE PAY FOR IT.

    Lets get the most honest President we can find. In my mind that is Obama because the other two contenders (well actually Hillary isn't technically a contender except in her own mind) will only continue the same game.

    March 14, 2008 02:40 pm at 2:40 pm |
  9. ojo

    "These are tough times." Way to sum it up, dubbya.
    "Fortunately we recognized the slowdown early and took action." The slowdown began last year. A sloth could have taken faster action.

    March 14, 2008 02:41 pm at 2:41 pm |
  10. Tom, Iowa

    What an observation from a guy that didn't see $4 gas coming.

    312 days!

    March 14, 2008 02:42 pm at 2:42 pm |
  11. SD

    This president is the worst! Hey Mr. president our economy sucks it's called a recession. Stop your denials. Liar! As long as it doesn't hurt your pockets I guess it's o.k.
    Your are going to be in the history books as the worst president in America. Can you deal with that. Oh I forgot you don't care. You are a legend in your own mind.

    March 14, 2008 02:44 pm at 2:44 pm |
  12. Ken, Suitland MD

    This is like a monkey in the desert noticing that there are no trees. But with simian consistency, the monkey will surely blame Bill Clinton. I wonder what McMonkey has to say about this?

    The sad part is the monkey's trees all died because he forced lower smog standards into law.

    Is this guy even relevant anymore?

    March 14, 2008 02:48 pm at 2:48 pm |
  13. GA-4-Obama!!!

    lol Duh!!!!!

    March 14, 2008 02:48 pm at 2:48 pm |
  14. Open your eyes

    Not much to say here but tick tock

    March 14, 2008 02:50 pm at 2:50 pm |
  15. jim

    Talk about unconnected with reality

    March 14, 2008 02:50 pm at 2:50 pm |
  16. lee burke

    This guy lives on another planet evidently. A statement like this would have to come from a Uranusite. From someone who has never experienced a tough time in his gilded, protected life. Please go away, back far, far away. May the force help you. Hurry.

    March 14, 2008 02:52 pm at 2:52 pm |
  17. Jed in Texas

    Hugging Henry Kissinger tells the whole story.The sellout is completed boss.

    March 14, 2008 02:52 pm at 2:52 pm |
  18. bushlover

    If you consider that George bush inherited Mr. Clintons recession and then the country was attacked by the people that Clinton let get away, isn't it any wonder that there are economic issues.

    March 14, 2008 02:53 pm at 2:53 pm |
  19. TJ

    Thanks for noticing, captain obvious....where have you been GW? Oh wait....on vacation

    March 14, 2008 02:53 pm at 2:53 pm |
  20. karma cop

    BROWN EYED BULL

    March 14, 2008 02:53 pm at 2:53 pm |
  21. MY VOTE MATTERS

    "These are tough times," he said. .... Boy, you can't get much past this guy.... COME ON NOVEMBER!!!

    March 14, 2008 02:56 pm at 2:56 pm |
  22. Bob Stephens

    How this moron was able to talk his way into the Whitehouse is still one of the mysteries of the Century. Bush doesn't have a clue, and anyone with an IQ above their resting heart rate can see that...

    March 14, 2008 02:56 pm at 2:56 pm |
  23. RR

    If only people would of listen to us about Bush....
    Now if only people would listen to us about Obama. If you think this guy inexperienced has got us upside down just think what Obama wil do to us!

    March 14, 2008 04:03 pm at 4:03 pm |
  24. jp/michigan

    This the worst President we have ever had in the White House. Eight years and he hasn't done a thing right.

    March 14, 2008 04:04 pm at 4:04 pm |
  25. Megan

    The economy is bad. Duh?
    Why is this guy still president?

    March 14, 2008 04:05 pm at 4:05 pm |
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