WASHINGTON (CNN) – President George W. Bush Tuesday said he is "considering all options" when it comes to aiding the U.S. auto industry because doing nothing could lead to further economic decline.
Watch: Bush on auto industry help
"A disorganized bankruptcy could create enormous economic difficulties, further economic difficulties," President Bush said in an interview with CNN's Senior Political Correspondent Candy Crowley. "I feel a sense of obligation to my successor to make sure there is a not a huge economic crisis. Look we're in a crisis now. We're in a huge recession, but I don't want to make it even worse.
"But on the other hand, I'm mindful of not putting good money after bad, so we're working through some options," he said.
"What you don't want to do is spend a lot of taxpayers' money and then have the same old stuff happen again, and again and again," he added.
Bush said there was no one person or event to blame for the recent woes in the U.S. economy and said of the housing and financial markets "the whole system became inebriated."
"I'm not really happy about the fact there have been excesses in the financial markets which are affecting hard working people and affecting their retirement accounts. Having said that, I'm very confident that with time the economy will come out and grow and people's wealth will return."
Bush was asked about the Iraqi journalist who threw his shoes at him during a press conference in Baghdad over the weekend. The president said the journalist was "looking for notoriety" and authorities shouldn't "overact" in their treatment of him, saying, "I didn't have much time to reflect on anything, I was ducking and dodging.
"First of all, it's got to be one of the most weird moments of my presidency," he said. "Here I am getting ready to answer questions from a free press in a Democratic Iraq and a guy stands up and throws his shoe. And it was bizarre and it was an interesting way for a person to express himself."
Bush added, "I'm not angry with the system. I believe that a free society is emerging, and a free society is necessary for our own security and peace."
On Iraq, Bush said the decision to go to war was by the far the most difficult one he made in the Oval Office. He also said he "listened to a lot of people" even some in his administration who told him the war was not "working."
"I listened very carefully to them," Bush said. "I came to a different conclusion."
It's unfortunate that Bush's desoite to "not put good money after bad" wasn't the case when $100 billion dollars were wasted in the so called Iraqi reconstruction, and the corruption in awarding no bid contracts to his "friends" and in not overseeing the trillions handed to the banks who were largely responsible for this mess.
GEORGE BUSH'S BANK ACCOUNTS SHOULD BE MORE THAN ENOUGH FOR THE BAILOUT AND CHENEY'S WOULD BE MORE THAN ENOUGH FOR THE STIMULOUS PACKAGE. THESE TWO FAT CATS HAVE FILLED THEIR POCKETS FULL AND RUNNING OVER.WHERE ARE THE FEDS?
As it turns out W is a joke. His presidentcy was so bad that the average American selected an African American Chicago Muslum named Husain who was not even born is not even a citizen. You know you stink when even the Hillbilly picks the black guy over the Arizona War Hero because he is on your team. I am not sure how W can even stand to show his face in public.
Bravo to the Iraqi shoe thrower. He did what most people in the world have been wanting to do for the past 8 years. What a perfect ending to a perfectly disasterous presidency. Bravo man!!!
Thanks for the memories, W. Very glad to see you're leaving.
He's "mindful of not putting good money after bad"???? Then someone please explain $10B per month spent on Iraq.
I'm guessing that at some point early in his life, he failed to successfully dodge a couple shoes.
You can start to believe your own lies after telling so many for all these years.Same old story,spent the money for Christmas getting drunk now the wife[the Dems} have to get the bills paid and get the kids something for Christmas.Lets hope the wife gets him new shoes.
First of all, I don't know why he would even GO to Iraq in the first place, because that would not improve his legacy, and he already knows that he's in a "lame duck" status..... He know he's not well liked over there, in IRAQ.......So why would he go there ?? He's not going to make any difference there, either....They are going to do what they've been doing since 2003, when the war started.....
AND, if you really listen to his comments regarding the Auto Bailout,
such as : ....."But on the other hand, I'm mindful of not putting good money after bad, so we're working through some options."
"What you don't want to do is spend a lot of taxpayers' money and then have the same old stuff happen again, and again and again,"
When BUSH says things like his, that means, he is going to call the Auto Makers Bluff, and "wait them out"
Is he serious....I think he was inebriated. No one person or even to blame for the recent woes in the economy. He also says,
"I feel a sense of obligation to my successor to make sure there is a not a huge economic crisis. Look we're in a crisis now. We're in a huge recession, but I don't want to make it even worse.
I don't care if he said he has been sober but I'm telling you he's been drunk for the past 8 yrs.....
president bush, our country was great even before we evented cars, let them start over, maybe they'll get it right this time, a bailout is not the answer.
President Bush is in a very odd situation. He is trying to salvage what little chance he has at a legacy by turning into the very thing that John McCain and Sarah Palin accused Obama of being....a socialist. By having the federal government acquire a stake in banking, insurance, auto manufacturing and Wall Street, a republican is socializing the economy in ways that a democrat would be impeached for. Bush has no choice though. His reputation is in tatters. The economy is tanking and heading for a depression and the republican party is about as popular as a lead painted toy from China. Obama's "leftist" agenda has turned out to be a myth. He has appointed centrists that are garnering praise from both parties. George is counting on the most liberal senator to ever be elected to be viewed as a complete disaster. He is providing political cover for Obama to do pretty much whatever he wants to. Ronald Reagan must be spinning like a top in his grave.
Just out of curiosity....
One shoe I understand but where the heck was the Secret Service detail when the second show was thrown? Didn't appear that there was an agent there that wanted to take a "show" for his President!
"I feel a sense of obligation to my successor to make sure there is a not a huge economic crisis."
Once you vote Black – Our president elect is not Muslim and his middle name is spelled Hussein.
I wish I had Candy Crowley's cell number. I would call her and tell her to crack that clown with the heel of her shoe.
No bail out to anyone! If anyone has to get it give everyone a break and stop all taxes for two months. If you bail out the autos then next the airlines and then the whoever. Where do you stop???????
George Bush's presidency is like a Freddy Kruger movie. He's driving that America school bus with all the taxpayers into his nightmare.
Bush has wasted so much money as it is, and I see he's not about to stop until his very last day in the White House. Sure, keep plunging America into debt, that's your legacy after all.
I hope more shoes get thrown at Bush; I loved seeing him get "Bush-whacked" on national television.
I support Bush on the war. I support his policies on nearly everything. I think his Public Relations people stink. The refusal of the Bush administration to relate with the electorate makes them look arrogant. And now... Even after the representative bodies have killed the idea, you're going to do it anyways? This is like the opposite of a veto! I never thought I'd say this, but let's board up the Oval Office until January 20th!
Just an observation,but when the shoe throwing incident happened the other day,afterwards Bush stated he didn't know what the guys beef was.......has he become completely delusional.Countless,and I mean countless innocent Iraqi civilians have lost their lives,not to mention the lives of the the American boys and girls,over an illegal war
based on lies and a corrupt ideology and he doesn't know what the guys beef was about.I'll retire to Bedlam.
To One You Vote Black:
Your comment concerning Obama is the most preposterous and ignorant one I have seen in quite some time. He IS a US citizen, he is NOT a Muslim. Why would you think he is not a US citizen and think John McCain is? That would go along with your thinking. His mother was a US citizen! McCain was born OUTSIDE the US but his parents are also US citizens. You should brush up on your history and figure this stuff out before you make such ridiculous remarks...
He better figure out a way to help more than just his repub buddies on Wall Street, Jerk!
Where was that phony concern during the banking bailout. This is just a loan too. If he really cared, he'd do something already, and not try to add provisions that will bust the unions. Can't he just do one good, honest, and decent thing before he leaves office?
To bad you didn't say the same thing about the banks. Good money after Bad money. I hope after he leaves the white house that someone will try to put him in court. He would not be able to hide behind executive order or privlege then.