White House: Bush mulling speech to nation
President Bush is considering whether to address Americans directly about the financial crisis, and his spokesperson said Wednesday says the nation risks “calamity” without bold action to address the problem.
The nation’s economic meltdown and intense negotiations with Congress over a rescue package the Bush administration has requested, led the president to return to Washington early Wednesday from a three-day stay in New York. He canceled a planned trip to Florida, where he had been scheduled to raise campaign cash for Republican candidates later in the day.
“This is a huge moment for America and if we don’t take decisive and bold action, we could be facing financial calamity,” White House press secretary Dana Perino told reporters traveling on Bush’s plane.
She said the president has been trying to address the public’s many questions and concerns, and was weighing whether, as well as when and where, to give a formal address as a way to continue to do that.
“Those are all questions we’re still working on,” she said.
Earlier in New York, Bush said he believes a bailout will be passed despite the fierce debate over his proposed $700 billion plan.
“I am confident when it’s all said and done, that there will be a robust plan,” the president said.
He spoke before a meeting to discuss free trade with leaders of other Western Hemisphere nations, one the last events in his trip to attend the annual U.N. General Assembly. The president was greeted there by world leaders who themselves had many questions about the turmoil in the United States markets.
Bush put a positive spin on what those leaders were seeing take place in the U.S. political system.
“They can see our legislative process is full of give-and-take, that there’s ample debate,” he said.