President Bush Speaks

President Bush appeared in a national Presidential address in order to try to convince Americans that his plan was the right way to go.

By: Henry Berkowitz President Bush has placed himself squarely in the crosshairs regarding the credit crisis. On Wednesday, President Bush stepped in front of the camera to make his case directly to the American people. The President called a prime-time White House press conference to make a major address. The stood in front of the cameras to make the case that the economy could collapse without the government taking extraordinary measures to rectify the situation. President Bush wants the American people to support his measures to let the government take a more active role in the financial markets. According to President Bush, "More banks could fail, including some in your community. The stock market would drop even more, which would reduce the value of your retirement account." President Bush's address struck a chord with many Americans, especially when he discussed the effects that such a fall would have on American farmers and small business owners. He noted that millions of Americans could lose their jobs and their financial security if the publc doesn't support the plans that he has hammered out with both Democrat and Republican Congressional leaders. This is only the sixth Presidential Addres during President Bush's second term,and it is not yet clear exactly how the public will respond to the President's plan. According to one senior official in the administration, "A lot of members have said, 'We need some help convincing the American people that there is a crisis and we need this extraordinary action." Up until now, the President hasn't really been trying to sell his economic plan, according to Candid P. Wolff, the White House's main lobbyist. Treasury has, up until now, been taking the lead in trying the make its case, but with the President's address, the message has been put out in a more widespread fashion.