It was al-Zawaihi his first appearance since an American airstrike that targeted him this month in Pakistan failed to kill him.
Al-Zawahiri, shown in the video wearing white robes and a white turban, said a Jan. 13 airstrike in the eastern village of Damadola killed "innocents," and he said the United States had ignored an offer from al Qaeda leader Osama bin Laden for a truce.
"He is wearing all white, and white conveys in this case that he is trying to present himself as a religious figure," said CBS News Consultant Jere Van Dyk. "Notice there is no rifle there, there is no grenade launcher, as he had the last time."
"Butcher of Washington, you are not only defeated and a liar, but also a failure. You are a curse on your own nation and you have brought and will bring them only catastrophes and tragedies," al-Zawahiri said, referring to Bush. "Bush, do you know where I am? I am among the Muslim masses."
Van Dyk also added this was al-Zawahiri's way to let the Muslim world know, "I'm alive, you missed me! And I am still very strong."
The airstrike hit a building in Damadola, where U.S. intelligence believed al-Zawahiri had been attending an Islamic holiday dinner. CBS News correspondent James Stewart reports Pakistani officials say the strike killed four al Qaeda leaders — including a man believed to be al-Zawahiri's son-in-law — but intelligence officials said later they believe al-Zawahiri sent his aides to the dinner in his place. Now, Stewart reports, U.S. officials say they just aren't sure who they killed that day.
Thirteen villagers also were killed in the strike, angering many Pakistanis.
"The American planes raided in compliance with Musharraf the traitor and his security apparatus, the slave of the Crusaders and the Jews," he said, referring to Pakistani President Gen. Pervez Musharraf.
"In seeking to kill my humble self and four of my brothers, the whole world has discovered the extent of America's lies and failures and the extent of its savagery in fighting Islam and Muslims."
The video was al-Zawahiri's first appearance since the airstrike and came 11 days after the latest audiotape by bin Laden. IntelCenter, a contractor working with U.S. intelligence agencies, said the video of al-Zawahiri is new.
The last video from al-Zawahiri came Jan. 6, when he called the U.S. decision to withdraw some troops from Iraq a victory for the Islamic world.
The Al-Jazeera newscaster said Monday the network was airing excerpts, and it showed two short segments. It was not immediately known how long the entire tape was.