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."
LET THE BIG THREE GO BROKE.... REORGANIZE AND LOWER THE WAGES PUT RESTRAINTS ON THE UNIONS AND MAKE THE CEOS GIVE BACK MOST OF THEIR BONUSES. BUSH AND CONGRESS STAY OUT OF THIS BAIL OUT, NEXT I S CAL THEN WI WHICH HAS THE HIGHEST PAID POLITICIANS ON THE U S A WHERE IS DOYLE ON THIS ONE...HE SHOULD HAVE USED HIS VETO POWER ON SALARIES FOR THESE PEOPLE, THESE STATES ARE NOW ASKING FOR THE BAILOUT.
Bush never did put "good money after bad". Instead, he put 'babd money after bad".
As much as I dislike Bush, I dislike ignorant, closeminded people that post anything that comes to their mind more. I'm talking to you, "Once you vote Black".
Who gives a crap what Obama's middle name is? Do you even know what Hussein means in Arabic? It means "handsome one". Let's look at Bush's middle name, Walker. Want to know one meaning of Walker in Old English? It means "wall swamp", refering to a family homestead near a swamp.
And Muslum? Obama is no more a muslum than Bush is a Buddhist.
Once you Vote Black> As it turns out, YOU'RE a joke. 1. He's not a Muslim. Even if he were, who cares? 2. It's "Hussein", not "Husain". And his name is BARACK, not "Hussein". His father was Muslim. Hussein is a very common name. Move on. 3. He was not even born? Wha'? 4. Yes. He is a citizen. He was born in Hawaii. Move on. 5. "The black guy"? I didn't vote for "the black guy". I voted for who I thought would do a better job. 6. McCain is no War Hero. It's a facade.
Do you think if you repeat the same untruths over and over again that they somehow become true? How much is the RNC paying you to post here?
How is it that the President can authorize something like this without Congress?
I don't think Bush has a conservative bone left in his body.
I wish G.W an happy life after this by dodging this last one shoe in a professionally way of cowboy style (Texans style).But most of all for this I think he did a very good in dodged the first shoe because if that would bave hitted him it would be a different story by now because it will do a great damage to his empty head which is already messed up by the presses.But above all he is still my presidency no matter what others think about him.I will not let my president down for the bunch of skunk haters who can prefer the dictator (Saddam) for the sake of freedom which Iraqis are now enjoying.
May God bless G.W and his family after life in Whitehouse.
To Once you vote Black...... You sound like a idiot. Try using a dictionary too. Are you related to Palin? By the way President-elect Barack Hussein Obama was elected because he was the best qualified for the job.
clinton bush obama all lie and follow the money,corruption become American way....people just more screwing as soon as possible
His comment about the toughest decision to go to war in Iraq is a joke. On 9/12/01 he was plotting a way to blame the terrorist attack on Iraq. That is a matter of public record.
The Bush war will go down in history as the biggest political blunder in US history all for the private rantings of a tyranical administration.
History will not treat the hype to go to war in very favorible light reguardless of how Bush tries to paint it.
The propoganda storm to justify the war in Iraq will become more clear as Bush leaves office. The guy and his cronies are dangerous. It's well and good the Bush regime is about over.
For once I finally agree with our president. I do not support him on almost anything, but we cannot let our auto companies collapse. It would be more disastrous to his 8 years in office if he did let them fail. Well done Mr. President.
Why is no one talking about the nationalization of our industry? Do we have a free market or a socalist one? if our government starts giving money to our industries that are insolvent not only would it be a waste of money. Since the company would still be losing money when the bailout cash was gone. But also that choice would bring us closer to a socialist society than anything done previously by a US president. And this coming from a conservative what exactly does that mean anymore? I thought conservatives believed in small government and fiscal responsibility.
I wonder what would have happened to this man if Saddam was still in power? He probably would have been executed. He should be thankful that there is a free press in Iraq.
@ Once you vote Black,
You racists just don't get it... Obama will be President, regardless if you have been fed a bunch of lies and believe them. Every single thing you mention about Obama is false and has been proven so.
The election is over. Get OVER IT!
Once you vote Black, you are an ignorant racisit and you should shut your mouth before someone does it for you. For the last time necks, President Obama was born in Hawaii, which is acutally a state in the union of the United States (I know, I know, it's not attached and it is an island but it is the 50th state), President Obama is a christian, has always been a christian and will always be a christian, and 65 million people did not vote for President Obama because we hate Bush and the Republican Party, we voted for President Obama because he is flat out better than any candidate that exist.
Instead of giving the automakers 15 or 40 billion in loans, I suggest they nationalize GM Ford and Chrysler and take over the companies and run it as a government owned venture -- Get rid of the Unions; offer jobs to all union members on a priority basis – but based on industry (Honda-Toyota-Hundai-et al) wage and benefot levels. have these government run companies manufacture cars, trucks, as well as municipal, state, and federal vehicles of all kind – busses, trucks, fire and police vehincles, rapid transit, et al.
For the individual that wrote "Once you vote black" you should be ashame to show your face in public as well. Get the facts straight before you write them. At least you are not ignorant enough to know Bush was a horrible president.
First off to betty, this article is about how bush is trying to help out our country, this is one of the many times over the past 8 years he has taken a step towards helping. Lots of people like yourself are so disrespectful in trying to say that throwing shoes at the president was a good thing. This man is our president, no one should act in such a disrespectful manner, I would have to see someone throw shoes at Obama during the Inauguration, even though i dont like the man and disagree with him on just about everything you would never see me do such a thing.
The people that are applauding the Iraqi reporter for throwing the shoes are the ones that make america look bad, because we dont even respect our own president. Well I have to say I am happy with bush over the past 8 years, more so than a lot of other people, I feel safer, and he has tried to deal with things the best way a president could, and was by far a better choice then Al Gore or John Kerry. He also tried to amek better on what clinton screwed up during his 8 years.
Thank you president bush for workign so hard during the past 8 years and taking the bashing of the mindless fools that you serve everyday, I hope the best for you and Vice Presidnet Cheney when you leave office.
The only thing that would have been better than throwing the shoe would have been making contact!!!
U know you have been a sad POUS if even your own country does not consider it disrespectful to throw things at him..!!!
Sad, but I care as much about GWB as he cares about ME!! NOT AT ALL..GOOD BYE AND COME ON JAN 20TH 2009..A NEW DAY!!!
How about me and a couple hundred million of my fellow Americans get ownership of the auto companies, banks, insurance giants, and investment houses? Since we're paying for them anyhow, why not? Then we can even vote on what to pay the executives of said companies!
So if a Democrat wants to help the auto industry, he's a good guy who cares about the people. If Bush wants to help the auto industry, he's wasting our taxdollars. Got it.
Hey "Once you vote black" – you're hateful demeanor on here is UNAmerican... not to mention that you need to learn to spell. Get over yourself. Obama is going to be President and in my opinion he will be a great President.
Don't forget Bush never had the benefit of the liberal press that covered up all of the slime on Obama and he made the mistake of trying to be bipartisan and the dems and the press just stuck it to him. And never forget the role of the unions and ACORN played in getting the "one" elected. I won't as this country slides in to poverty and disgrace, we can always have their puppies to talk about. That is about all the coming socialist state will let us talk about.
Bush's Disaster has damaged and bankrupted our Nation....... he should be IMPEACHED for LIES....... war crimes and for bankrupting our Nation!
Now when it is helping blue collar workers and saving their jobs it is a free society. Where was the free society when they bailed out the riches companies and people who own and run them.
But to a republican giving billions to a rich man is good business,but to give a loaf of bread to a poor widow is welfare.
Didn't like my post or what?