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Bush says sacrificed free-market principles to save economy

Posted By admin On December 17, 2008 @ 5:03 am In Money Watch | Comments Disabled

AFP [1]
Wednesday, Dec 17, 2008

US President George W. Bush said in an interview Tuesday he was forced to sacrifice free market principles to save the economy from “collapse.”

“I’ve abandoned free-market principles to save the free-market system,” Bush told CNN television, saying he had made the decision “to make sure the economy doesn’t collapse.”

Bush’s comments reflect an extraordinary departure from his longtime advocacy for an unfettered free market, as his administration has orchestrated unprecedented government intervention in the face of a dire financial crisis.


Bush says sacrificed free market principles to save economy 121208banner3 [2]

“I am sorry we’re having to do it,” Bush said.

But Bush said government action was necessary to ease the effects of the crisis, offering perhaps his most dire assessment yet of the country’s economy.

“I feel a sense of obligation to my successor to make sure there is not a, you know, a huge economic crisis. Look, we’re in a crisis now. I mean, this is — we’re in a huge recession, but I don’t want to make it even worse.”

Full article here [1]

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URLs in this post:

[1] AFP: http://rawstory.com/news/afp/Bush_says_sacrificed_free_market_pr_12162008.html

[2] Image: http://www.efoodsdirect.com/products.html

[3] Stock market drops 107 points during Bush’s speech on the economy.»: http://www.prisonplanet.com/stock-market-drops-107-points-during-bush%e2%80%99s-speech-on-the-economy%c2%bb.html

[4] I am For the Free Market . . . But if the Government is Going to Stick its Big Nose Into the Market, Here’s What It Should Do: http://www.prisonplanet.com/i-am-for-the-free-market-but-if-the-government-is-going-to-stick-its-big-nose-into-the-market-heres-what-it-should-do.html

[5] USA has Two Options to Save its Economy: Declare Default or Trigger a War: http://www.prisonplanet.com/usa-has-two-options-to-save-its-economy-declare-default-or-trigger-a-war.html

[6] The Free Market as Regulator: http://www.prisonplanet.com/the-free-market-as-regulator.html

[7] Soros Says Financial Crisis Marks End of a Free-Market Model: http://www.prisonplanet.com/soros-says-financial-crisis-marks-end-of-a-free-market-model.html

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