Rescue plan will take time, Bush says

CHANTILLY, Va., Oct. 7 (UPI) --

U.S. President George Bush Tuesday recognized Americans face challenges because of the financial meltdown, but expressed confidence the economy would recover.

"No question that times are tough," Bush said after visiting an office products company in Chantilly, Va. "But no question America will emerge. And yet we've got some work to do ... "

When the depth of the crisis became apparent and began spilling into overseas markets, "I asked Congress to pass a rescue package," Bush said, noting that Republicans and Democrats joined together to pass "a good bill that will enable us to handle this challenge head-on."

The Emergency Economic Stabilization Act provides "stability to the volatile markets," Bush said. "And as the markets begin to stabilize, it will help markets overseas."

Even though a rescue plan had to be passed quickly, implementing it must be deliberate, he said.

"It's going to take time for these actions ... to have full effect." he said. "We want to make sure that the plan is well-thought-out and well-delivered."

Saying seeking governmental help for bad decisions in the marketplace goes against his nature, Bush said, "I wish I could snap my fingers and make what happened stop, but that's not the way it works. I made a decision that is really opposite of my philosophy."


Copyright 2008 by United Press International
All Rights Reserved.

Times of the Internet, now in Spanish


Published: Tuesday 07th of October 2008 04:06:12 PM
Print | Email Friend |
Receive updates via Twitter

Like this article? Then submit it to your favorite social network to share with others.
Bookmark and Share
Subscribe to Nation RSS Feed: rss feed nation
Read more news stories in nation.

Read the last five articles in the NATION category