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Bush says sacrificed free-market principles to save economy
AFP
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.
"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.
(ARTICLE CONTINUES BELOW)
"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."
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