July 15th, 2008
12:00 PM ET
10 years ago

Bush: 'It's been a difficult time'

Bush discussed the country's economic woes Tuesday.

Bush discussed the country's economic woes Tuesday.

NEW YORK (CNNMoney.com) - Under the backdrop of a deteriorating economic picture, President Bush said Tuesday he is taking action to help people with falling home values and high gas prices.

Watch: Bush says system 'basically sound'

Bush highlighted plans to stabilize the mortgage lenders Fannie Mae and Freddie Mac and lift the ban on offshore oil drilling as two steps his administration is taking to address some of the nation's economic ills.

Watch: Bush: A 'tough time'

'It's been a difficult time for American families," Bush said at a press conference. "We must ensure we can continue providing credit during this time of stress."

Full story

Filed under: Popular Posts • President Bush
soundoff (266 Responses)
  1. Chuck, Democrats United We Stand

    Yes, and Bush just made it even worse for those that are in dire straights by his veto of the Medicare bill. Way to go! Lets see how bad we can really make it.

    July 15, 2008 02:24 pm at 2:24 pm |
  2. John

    WHat ever this president says do the exact opposite and thats the right way. Bush is always wrong.

    July 15, 2008 02:28 pm at 2:28 pm |
  3. Loyal Democratic Voter

    We talk about religion and adherence to the tenants of the bible but yet we wage war against sovereign countries that we don't like and allow people to suffer and die under the rule of repressive regimes in countries that we claim we have no related national interests. We enact laws that protect our business interests around the world and disregard our moral obligations. I am tired of hearing we invaded IRAQ to remove a brutal dictator. If that was our reasoning then why haven't we envaded more than 100 other countries where the many more thousands of people have died under the rule of governments that were in place long before Sadaam Hussein ever appeared on the International scene.

    July 15, 2008 02:28 pm at 2:28 pm |
  4. Candy West Virginia

    I watched Obama on CNN discuss his foreign policy plans. Laid it out brilliantly. (BTW he authors his own speeches solely) Now I am waiting for John McCain to attack it first, then in a few days to copy it.

    July 15, 2008 02:29 pm at 2:29 pm |
  5. Chris P

    Illuminati. That's all there is to it.

    July 15, 2008 02:30 pm at 2:30 pm |
  6. MurphyMorseJohnson

    The Republican–Bush, Cheney, McCain –Economy has caused so much hardship that it has created a furious electorate. This hardship and the fury will not go away until the Republicans get the gate on election day. For Bush, Cheney, McCain and the like, it's too bad tar and feathers are no longer in style.

    July 15, 2008 02:31 pm at 2:31 pm |
  7. Sean

    So did Bush just notice that it's "been a difficult time"? At least he has more of a grasp of the situation than McCain, who's top economic advisor claimed that the recession is only in our minds and that we're a nation of "whiners" when our homes are being repossessed, our incomes are dropping, gas prices are making the act of driving to work a financial hardship, and are causing things like grocery prices to skyrocket.

    No thank you, McCain.

    Obama '08!

    July 15, 2008 02:34 pm at 2:34 pm |
  8. Allen from Hartwell, GA

    I laughed when he said that he (we) wouldn't be having this conversation if we'd taken steps seven years ago to prevent the problems we're facing today. He must have forgotten who the president was in 2001.

    Bush does not care about the American citizens or this country. I hope that all those who voted for him realize their mistake. I forgive them. Just don't let it continue or happen again.

    July 15, 2008 02:36 pm at 2:36 pm |
  9. Irrelevance Recognized

    The flippancy of this man is just overwhelming! America needs to stop, drop, and roll 180-degrees from this administration and party as fast as it can!

    July 15, 2008 02:36 pm at 2:36 pm |
  10. Loyal Democratic Voter

    What we do in this election will determine whether we remain viable as a country. I strongly believe that. We are no longer the dominant economic power in the world. Our educational system is lagging the rest of the world. Foreign countries have taken control of many of our enterprises. China is becoming, by far, the dominant economic power in the world thanks to our trade policies. We are losing jobs at an alarming pace. Our economic worries are not the same as they were 30 years ago. We are in a global economy now and the workforce itself is global. We may innovate in the U.S. but the labor can come from anywhere in the world now.

    July 15, 2008 02:36 pm at 2:36 pm |
  11. not important

    Yes thanks to you Mr Bush.

    July 15, 2008 02:36 pm at 2:36 pm |
  12. Brendan H., San Antonio, TX

    Today, President Bush decried Congress as impeding his "request" for off-shore drilling.

    Funny, when Bush had full control of both Houses of Congress from 2003 – 2006, he never once mentioned off-shore drilling as a "priority."

    Of course, that was before he stomped into Iraq and made the "request" possible because his "priority" changed!

    July 15, 2008 02:37 pm at 2:37 pm |
  13. Ken Pittsburgh

    This guy who wanted to our President has made one misstep after another. I give this for him he going out in a blaze of glory. He lifted the ex.Order which his father had put in place concerning off shore drilling
    knowing full well not ond drop of oil would come out for at least seven years and would not bring down the price of gas one penny. Oilman Pickens sad we can not drill your way of the mess that we are in now a mess that he was most noted for creating.

    July 15, 2008 02:38 pm at 2:38 pm |
  14. Rosa Birmingham, AL

    Is this guy still talking? Is anyone still listening?

    July 15, 2008 02:39 pm at 2:39 pm |
  15. jmo

    You’ll all be complaining about the next president, regardless of who wins in November, if he doesn’t turn the economy around by mid-year 2009. (and it ain't gonna happen). These are just people, not gods. I don’t know why anyone would even want the job. It doesn’t pay enough.

    July 15, 2008 02:39 pm at 2:39 pm |
  16. Brendan H., San Antonio, TX

    Personal to Mike in Texas:

    Have you ever seen fearless, "Jet-Pilot" make any speech without a script?


    July 15, 2008 02:40 pm at 2:40 pm |
  17. Nancy H

    People need to understand that Fannie and Fredddie are not the ones responsible for the subprime loans. That is not their role. Do some research, get a clue. "Both are wholesale lenders that fund retail lenders' - banks and savings institutions - home mortgages." If you own a home, chances are you wouldn't if it were not for these organizations. .

    July 15, 2008 02:40 pm at 2:40 pm |
  18. Jeff Long

    Obama treats as a vindication a recent statement by Iraqi Prime Minister Nouri al-Maliki calling for a timeline for withdrawal of U.S. forces. But Maliki, playing to his domestic politic audience, can't be taken at face value. Neither Maliki nor anyone around him talks of an unconditional 16-month timeline for withdrawal as being remotely plausible. His defense minister says Iraqis will be ready to handle internal security on their own in 2012 and external security by 2020. So there you have it.

    Substance over Hype!!! McCain '08

    July 15, 2008 02:40 pm at 2:40 pm |
  19. ?

    All the years of use are getting to good old George and out of touch as usual.

    July 15, 2008 02:41 pm at 2:41 pm |
  20. Our prez the fisherman?

    From our president on offshore drilling, look for this one on a "The Daily Show with John Stewart" real soon.

    "I'm concerned about the reefs. I'm a fisherman. I like to fish. Reefs are important for fisheries," Bush said

    July 15, 2008 02:45 pm at 2:45 pm |
  21. tom

    why isnt this war criminal in prison

    July 15, 2008 02:47 pm at 2:47 pm |
  22. judy, Wisconsin

    How can you tell it's crap? He moves his mouth. I can't stand the sight or sound of him–nauseating. I hope the country we love can survive these incompetent liars until January.

    July 15, 2008 02:48 pm at 2:48 pm |
  23. Ron

    Yeah, the trickle down economy is working great, George. The tax cut for the wealthy is doing great things (for the rich) and the trickle runs dry long before it reaches the average Joe (even above average Joe).

    McCain wants to make this lunacy permanent. Well, I guess he and his well heeled wife will stand to benefit from it. Same old Repbulican story. Look after the rich so they will keep on looking after them.

    July 15, 2008 02:48 pm at 2:48 pm |
  24. Ian

    Our dollar is worth about 2 cents of what it used to be, and we're supposed to just keep going with this monopoly money?

    July 15, 2008 02:49 pm at 2:49 pm |
  25. 4 more years

    Let's have a constitutional amendment and give this guy 4 more years

    July 15, 2008 02:53 pm at 2:53 pm |
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