Bush: Economy Facing Tough Time

President George W. Bush has just found out what most Americans have known for a long time.

“Our economy obviously is going through a tough time,” he said on Friday March 14.

Well, welcome to our reality, Mr. President.

From The New York Times:

President Bush on Friday acknowledged more starkly than ever that the economy has slipped into trouble, dogged by falling home prices and turmoil in financial markets, but he inveighed against government bailouts aimed at limiting the pain.

“Our economy obviously is going through a tough time,” the president told the Economic Club of New York in a morning speech at a Midtown Manhattan hotel. “The temptation of Washington is to say that anything short of a massive government intervention in the housing market amounts to inaction. I strongly disagree with that sentiment.

“I believe there ought to be action,” Mr. Bush added, “but I’m deeply concerned about law and regulation that will make it harder for the markets to recover.”

What a bullshitter.