Bush: ‘I’ve Abandoned Free Market Principles To Save The Free Market System’: "
President Bush has repeatedly touted his adherence to free markets throughout his term. ‘Free markets remain the best way to promote growth, create good jobs, and ensure rising living standards. That is why the President has actively sought to open markets,’ Gregory Mankiw of the Council of Economic Advisers explained in 2004.
But amidst a deep recession characterized by $8.5 trillion in various bailouts, Bush’s laissez-faire ideals are a distant memory. Today on CNN, Bush claimed he has ‘abandoned’ the free market in order to ‘save’ it:
BUSH; Well, I have obviously made a decision to make sure the economy doesn’t collapse. I’ve abandoned free market principles to save the free market system. I think when people review what’s taken place in the last six months, uh, and put it all in one, in one, (sigh), you know, in one package, they’re realize how significantly we have moved.(Via Think Progress.)
