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In Bush's own words
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President Bush spoke Tuesday about the bailout bill, urging that "Congress must act." Here are excerpts of his speech:
ABOUT THE BAILOUT
"We're at a critical moment for our economy, and we need legislation that decisively addresses the troubled assets now clogging the financial system, helps lenders resume the flow of credit to consumers and businesses and allows the American economy to get moving again."
ABOUT THE RISK
"If our nation continues on this course, the economic damage will be painful and lasting."
ABOUT THE COST
"I know many Americans are especially worried about the cost of the legislation. [$700 billion] -- no question -- is a large amount of money. We're also dealing with a large problem. But to put that in perspective, the drop in the stock market yesterday represented more than a trillion dollars in losses. ...
"Because the government would be purchasing troubled assets and selling them once the market recovers, it is likely that many of the assets would go up in value over time. Ultimately, we expect that much -- if not all -- of the tax dollars we invest will be paid back."
ASSOCIATED PRESS
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