WASHINGTON, April 29, 2008

Bush: I've No Magic Wand For Gas Prices

At White House Press Conference, President Says Congress Is Blocking Proposals To Lower Prices

  • Play CBS Video Video Bush Blames Congress For Slump

    President Bush blamed Capitol Hill for the nation's economic woes, putting the pressure on Congress for new legislation that could help cash- strapped Americans. Alexis Christoforous reports.

  • Video Candidates Target Gas Tax

    Gas prices are busting Americans' budgets. With President Bush offering few suggestions, Hillary Clinton and John McCain have called for the federal gas tax to be suspended. Jim Axelrod reports.

  • Video Taxpayers Ready For Rebate

    Millions of Americans are eager for their tax rebate checks as part of the Bush administration's stimulus package. But, as Anthony Mason reports, these rebates may be too late.

    • President Bush speaks during news conference in the Rose Garden at the White House, April 29, 2008. Photo

      President Bush speaks during news conference in the Rose Garden at the White House, April 29, 2008.  (AP Photo/Ron Edmonds)

    • It has been two months since President Bush's last solo news conference with reporters. Photo

      It has been two months since President Bush's last solo news conference with reporters.  (AP Photo/Charles Dharapak)

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(CBS/AP)  President Bush on Tuesday accused the Democratic-led Congress of blocking his proposals to deal with rising gas prices and dragging its feet on measures to address the sagging economy. He said he was "open to any ideas," including a proposal backed by presidential contenders John McCain and Hillary Clinton to suspend gas and diesel taxes this summer

But Mr. Bush quickly said that he favors longer-term fixes, such as encouraging new oil production in the United States and building new refineries at home. He renewed his call for opening areas of Alaska wilderness to oil exploration and production.

"If there was a magic wand to wave, I'd be waving it, of course," he told reporters at a Rose Garden news conference called on short notice. "But there is no magic wand to wave right now. It took us a while to get to this fix."

The president's hour-long question-and-answer session under sunny skies came on the eve of a government report on the state of the economy in the first three months of the year.

"It's a tough time for our economy," Mr. Bush said.

Many business analysts believe the economy already has slipped into recession, but the president - as in the past - declined to use that term.

"You know, the words on how to define the economy don't reflect the anxiety the American people feel," the president said. "You know, the average person doesn't really care what we call it."

Asked if he thought the statistics due out Wednesday on the nation's gross domestic product for January through March would show the country was indeed in a recession, Mr. Bush said: "I think they'll show we're in a very slow economy."

Two straight quarterly contractions in the GDP - which measures business growth - is the common definition of a recession. But the official determination - made by the National Bureau of Economic Research - takes longer and is based on a more complicated formula.

Just 27 percent of the people questioned about Mr. Bush's handling of the economy said they approved, in an Associated Press-Ipsos poll this month. It was his worst showing ever in the survey and was down 4 percentage points since March. In a separate AP-Yahoo News poll this month, people named the economy as the nation's top problem, with gas prices are second and the Iraq war far behind.

Mr. Bush spoke shortly after a report that said consumer confidence fell further in April amid heightened concerns about soaring inflation and the weakening job market. The Consumer Confidence Index now stands at 62.3 in April, down from the revised 65.9 in March, said the Conference Board, a private research group.

Mr. Bush was asked about a proposal to suspend fuel taxes for the summer travel season, first made by Republican McCain and later endorsed by Democrat Clinton but not by her rival, Barack Obama. The tax is 18.4 cents per gallon of gasoline and 24.4 cents on diesel fuel. The average price of a gallon of gas has reached $3.60 nationwide.

"I'm open to any ideas and we'll analyze anything that comes up," he said. But Mr. Bush also said he didn't want to inject himself into the ongoing presidential race and favored longer term alternatives.

Mr. Bush renewed his objection to calls that the government discontinue keeping up the nation's Strategic Petroleum Reserve supply while oil prices are so high. "If I thought it would affect the price of oil significantly, I would seriously consider it," he said of an idea embraced by many Democrats and some Republicans.

Senator Byron Dorgan, D-N.D., said today that he will offer an amendment Wednesday that would halt additional deposits into the Strategic Petroleum Reserve until the end of the year or until the price of oil falls below $75 a barrel.

Dorgan said in addition to the entire Democratic Party caucus, enough Republicans are backing the proposal (including Texas Senator Kay Bailey, Chairman of the Republican Policy Committee) to ensure a veto-proof majority.

“The current policy of putting oil underground puts upward pressure on gas prices and is not in the nation’s interest,” said Dorgan. “With oil prices at record highs, and the SPR nearly full, it makes no sense for the Department of Energy to put nearly 70 thousand barrels of oil underground every single day.”

But Mr. Bush said that it was important to keep filling the reserve, based in underground salt domes in Texas and Louisiana, in case there is a terror attack on the nation's oil supplies.

He also once again called for Congress to permit drilling in the Arctic National Wildlife Refuge, a proposal he has made repeatedly since he first took office in 2001, and to pave the way for the building of new refineries.

The president revived an earlier proposal that shuttered military bases be used as sites for new refineries. In the past, oil and energy experts have expressed little interest in that, saying military bases often aren't situated where the oil pipelines are anyhow.

He sidestepped a question on whether there should be a second stimulus package. Rebates started to go out this week as part of a $168 billion stimulus package enacted in February. The checks will range to up $600 for an individual, $1,200 for a couple and an additional $300 for each eligible dependent child.

Mr. Bush also called on Congress to act more quickly on legislation he supports to address the housing and credit crunch by making student loans more available and to help homeowners facing foreclosure.

The president's biggest target was Congress.

"These are difficult times. And the American people know it and they want to know whether or not Congress knows it," Mr. Bush said.

Mr. Bush raised the anti-Congress theme repeatedly. "I believe that they're letting the American people down, is what I believe," he said. "It's either a lack of leadership or a lack of understanding of the issue. And either way, it's not good for the country."

CBS News chief Washington correspondent Bob Schieffer said after the president's remarks that Mr. Bush's goal appeared to be to say that the economic problems are the fault of Congress and not his administration.

Schieffer also said that it was clear how far apart the president is with the Democratic Congress and how it's unlikely anything will get done.

"I think what you saw here was an election year special," Schieffer added.

On other subjects, Mr. Bush said:

  • He believes the NATO-led mission in Afghanistan is making strides in tamping down "a very resilient enemy." Mr. Bush is scheduled to meet later with the special representative of the U.N. Secretary-General for Afghanistan, said that he believes the NATO-led mission in the country is succeeding. "We're making progress, but it's also a tough battle," Mr. Bush said. "We're facing people who are willing to strap bombs on themselves and walk into places where the innocent dwell."

  • He was declining to openly criticize former President Carter for his meetings last week with representatives of Hamas, the Palestinian group the State Department considers a terrorist organization. "Anybody can talk to whomever they want, but I want people to understand the problem is Hamas," said Mr. Bush. "Foreign policy and peace is undermined by Hamas. ... That's the reason I'm not talking with them," he said.

  • Spoke about intelligence that was released alleging that Syria and North Korea were cooperating on a clandestine nuclear reactor. He said the intelligence was made public to step up pressure on North Korea to end its own nuclear program and to pressure Syria to stop destabilizing the Middle East by aiding insurgents in Iraq and Hamas in Lebanon. He said it was also meant to send a message to Iran.

  • Despite lack of much visible progress toward an Israeli-Palestinian peace deal, "I'm still hopeful we'll get an agreement by the end of my presidency." Mr. Bush visits the Middle East next month.

  • The government in Zimbabwe of President Robert Mugabe is waging a campaign of violence and intimidation following March 29 elections that is "simply unacceptable." Mr. Bush gently criticized neighboring African countries, such as South Africa, for not acting enough to resolve the crisis, urging them to "step up and lead."

  • He would not accept a bill to pay for the Iraq war more expensive than his $108 billion request. Democrats may try to add extended unemployment benefits and new education funding for veterans, a move that would expand the measure by nearly $13 billion. "$108 billion is $108 billion," the president said.

    ©MMVIII, CBS Interactive Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.

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    Add a Comment See all 673 Comments
    by missingamerica April 29, 2008 10:12 AM PDT
    Wonder what he''ll announce this time? A moral program?

    Like, every American will get a free copy of Jenna''s and Laura''s book through a distribution deal with KBR originated via an unbid contract?
    Reply to this comment
    by killtheliars April 29, 2008 10:17 AM PDT
    I hope he pulls a Bud Dwyer.
    Reply to this comment
    by quetzal0666 April 29, 2008 10:25 AM PDT
    That includes sweeping energy legislation Mr. Bush has long sought that would increase investment in alternative energy sources.........

    This is a joke right???????
    Reply to this comment
    by JJASMAN April 29, 2008 10:29 AM PDT
    WITH KARL ROVE GONE WHO IS GOING TO TELL HIM WHAT TO SAY...
    Reply to this comment
    by quetzal0666 April 29, 2008 10:37 AM PDT
    My Fellow American, im George Dumbya Bush,
    We are not in a recession just a bump on the road while staying the course,
    Reply to this comment
    by jjp735i April 29, 2008 10:40 AM PDT
    How can we expect help from a man who did not even know there was a problem months ago? Remember the comment he made about gas going to $4.00? He had not heard that one!

    This is one of the people who caused our problems in the first place, along with the rest of the Republican Party. Are people really that stupid to still trust Bush & Friends?

    Reply to this comment
    by olebd April 29, 2008 10:45 AM PDT
    Blah, blah, blah Ethanol

    Blah, blah, blah Congress'' fault, not mine

    Blah, blah, blah supply and demand
    Reply to this comment
    by abbe91 April 29, 2008 10:45 AM PDT
    Just starting and showing complete ignorance about bio-fuels.
    Reply to this comment
    by abbe91 April 29, 2008 10:47 AM PDT
    and now, just acknowledging he is a lame duck. Priceless.
    Reply to this comment
    by r9119111 April 29, 2008 10:48 AM PDT
    As I listen to our president, I hear a president blaming congress for our problems. Mr. Pesident, I sure would appreciate it if you accept and admit your share of the blame. Stop blaming Congress and start doing what is necessary to correct the problems you and your neocon friends have created during your administration. It would also be appropriate for the corporations to accept their share of blame also. Then pull yourselves together and start governing this nation of, by and for the people the way it should be done. I pray that you all will put your foolish selfishness aside and do what is right and good for our country.
    Reply to this comment
    by olebd April 29, 2008 10:48 AM PDT
    "Did I mention Ethanol?"
    Reply to this comment
    by abbe91 April 29, 2008 10:50 AM PDT

    Bio-fuels are meant to cover the transition period, waiting for hydrogen ...
    How do you produce hydrogen, Mr "President" ?
    Reply to this comment
    by olebd April 29, 2008 10:52 AM PDT
    How this guy ever got past living off his mom and dad is beyond me. There is something mentally wrong there. He''s not firing on all cylinders.
    Reply to this comment
    by venkata4--2008 April 29, 2008 10:55 AM PDT
    "How can we expect help from a man who did not even know there was a problem months ago? Remember the comment he made about gas going to $4.00? He had not heard that one!

    This is one of the people who caused our problems in the first place, along with the rest of the Republican Party. Are people really that stupid to still trust Bush & Friends?


    Posted by jjp735i at 10:40 AM : Apr 29, 2008"

    This Prez. is busy checking bottom lines of big energy companies and defense suppliers. Yeah people voted (courtesy supreme court, Die Bold company which made electronic voting machines which did not produce paper trail that were used in key state Ohio in 2004 & who''s CEO promised in his private letter to Republican party that he will help in this election) this Prez. two times. Right now Prez. VP are counting their nest eggs and possible settle in Dubai.
    Reply to this comment
    by olebd April 29, 2008 10:56 AM PDT
    Todya''s obvious strategy:

    Let''s intterupt every reporter with a witty comment to remind them who''s in charge and lessen the seriousness of the state of our nation.
    Reply to this comment
    by quetzal0666 April 29, 2008 10:56 AM PDT
    olebd .....

    Goege Dumbya is living proof that sometimes you just need to pull out..........................
    not only does it save on contraception, it saves thousands of lives later on......
    Reply to this comment
    by abbe91 April 29, 2008 10:56 AM PDT

    I cannot believe it, he''s close to have a tantrum.
    He is going to give us an idea of how it would be with McCain.
    Reply to this comment
    by singingrick April 29, 2008 10:57 AM PDT


    If Bush and his Rubber-Stamp Republicans had taken the 3 trillion dollars we''re borrowing to steal Iraq''s oil and used it to develope the sustainable energy technologies that we already have, we''d be well on our way to energy dependence. We would be exporting this technology to the world. Instead, we export money and blood while we import oil. Conservatives are absolutely incapable of forward thinking leadership. They are like a car stuck in reverse.



    lol!




    Reply to this comment
    by fstop100 April 29, 2008 10:59 AM PDT
    Yeah pass the blame. The profits soar and what is left of the middle class get squeezed again.
    Reply to this comment
    by colvinatch April 29, 2008 11:00 AM PDT
    Career failure, completely incompetent, utterly failed administration, who cares what this chimp has to say... NO ONE!
    Reply to this comment
    by roger_inkart April 29, 2008 11:03 AM PDT
    Yes, your pointless war that we''re borrowing money to wage, which has created massive instability in the region while giving massive tax cuts to the wealthy here at home and it''s CONGRESS'' fault that the economy is tanking. Unbelievable. Where does this guy get the stones to make such outrageous statements?

    Mr. Bush, you are the most arrogant, stupid and irresponsible person to ever hold the office. The day you leave can''t come soon enough.
    Reply to this comment
    by wdrussell1 April 29, 2008 11:03 AM PDT
    George says, I don''t know what everybody is whining about, my friends aren''t hurting.
    What else matters?
    Reply to this comment
    by olebd April 29, 2008 11:03 AM PDT
    Free trade with Colombia? Does that mean cheaper coffee for us?

    Fair trade? Then how come we don''t expect fair and balanced trade with China?
    Reply to this comment
    by fstop100 April 29, 2008 11:04 AM PDT
    Americas worst President....You own that title Georgie!!!
    Make your parents proud.
    Reply to this comment
    by armydog2 April 29, 2008 11:07 AM PDT
    george you are an idiot.
    Reply to this comment
    by jerr11 April 29, 2008 11:08 AM PDT
    When all else fails, pass the buck!

    Yeah, who''s been in charge these past 7 years!

    This economy was created by your policies of war and greed!

    So now, let''s use the high gas prices to pursue that other neocon agenda, drill for oil in Alaska!

    Fantastic strategy.

    Create artificially inflated prices, make your oil buddies wealthy and now use it as a pretext to pursue your agendas.

    Like terrorism!

    Great pretext to start a war to enrich your Halliburton buddies!

    Reply to this comment
    by underdogus April 29, 2008 11:10 AM PDT
    what a bunch of whiners...wait till the s.hit hits the fan!!....
    Reply to this comment
    by roger_inkart April 29, 2008 11:10 AM PDT
    I believe, on some level, there is a mental illness in Mr. Bush. Being out of touch is standard for his clan, but watching him speak and react makes me think there is a touch of insanity in him.

    He isn''t reasonable. He isn''t rational. He speaks down to everyone as if he can hardly believe they don''t see things his way, and to even question him is a sign of stupidity.

    We are bogged down in a quagmire in Iraq. Our ecomony is tanking. The nation''s infrastucture is falling apart. We are as depedent on foreign oil as we have ever been. Yet these facts seem to have no effect on Mr. Bush, who is content to make light of the nation''s problems and shift the blame.
    Reply to this comment
    by reedtaz73 April 29, 2008 11:14 AM PDT
    Where are all the Mccain supporters? How can anyone say anything about Obama''s relationship with Pastor Wright when Bush and Mccain are party buddies and warmongers. How stupid can the american people be...
    Reply to this comment
    by abbe91 April 29, 2008 11:15 AM PDT
    "He isn''''t reasonable. He isn''''t rational. He speaks down to everyone as if he can hardly believe they don''''t see things his way, and to even question him is a sign of stupidity.
    Posted by roger_inkart at 11:10 AM : Apr 29, 2008"

    He lives in a different universe.
    Reply to this comment
    by trillion1 April 29, 2008 11:19 AM PDT
    Cutting the gas tax is a drop in the bucket and does nothing to address the gouging that is giving the oil companies tens of billions in record profits every quarter. With those profits the oil companies don''t need all the subsities and tax breaks the goverment gives them.
    Reply to this comment
    by hooch74cr April 29, 2008 11:21 AM PDT
    I''m not really huge on polotics but as far as I''m concerned.......Bush keeps talking about helping people stay in their homes, which is great! But what about those people who have ALREADY lost their homes??? The people who are living on the streets, in cars, little travel trailers, or now trying to rent homes that do not have nearly enough bedrooms to fit the families or require $5,000 to move in! I am one of those people! Not because I just didn''t want to pay, but because my daughter and I have been stricken down by brain tumors, adrenal disease, and lupus.....and because of the mounting medical bills we just couldn''t keep the house due to a subprime loan! Also, it angers me when he says " the checks are just starting to arrive" come on! Like $1,200 is going to fix anyone''s problems! I don''t know about anybody else but that wont help me! It wont help me get groceries for my family, it wont help me fix my credit, and it sure wont help me make things all better! He needs to do something for all the people who are losing and "have" lost their homes!!!!! I never hear anybody discuss that!!!!!!!!!
    Reply to this comment
    by usbrit-2009 April 29, 2008 11:21 AM PDT
    Why isn''''t the media reporting on the Peter Paul trial vs Clinton?

    Posted by ethelk2044

    NIce timing 2044. Neocons are ready to throw any wild goose story into conversation when things are getting out of hand with their beloved cretin-in-chief.
    Reply to this comment
    by singingrick April 29, 2008 11:24 AM PDT



    If Bush and his Rubber-Stamp Republicans had taken the 3 trillion dollars we''re borrowing to steal Iraq''s oil and used it to develope the sustainable energy technologies that we already have, we''d be well on our way to energy dependence. We would be exporting this technology to the world. Instead, we export money and blood while we import oil. Conservatives are absolutely incapable of forward thinking leadership. They are like a car stuck in reverse.



    lol!



    Reply to this comment
    by vblick-2009 April 29, 2008 11:24 AM PDT
    It%u2019s amazing that Bush/ Cheney robbed the US Treasury, robbed Social Security, doubled the national debt to $9 Trillion, ruined the US economy and intentionally destroyed Iraq to manufacture an oil crisis (gas was $1.70 a gallon and $17 a barrel) and the press doesn%u2019t have the guts to call him on it. This is a man who has no problem sleeping at night knowing that 300,000 to a million Iraq%u2019s have been murdered because of his actions. Blaming Congress for what he has done doesn%u2019t work.
    Reply to this comment
    by singingrick April 29, 2008 11:25 AM PDT


    If Bush and his Rubber-Stamp Republicans had taken the 3 trillion dollars we''''re borrowing to steal Iraq''''s oil and used it to develope the sustainable energy technologies that we already have, we''''d be well on our way to energy independence. We would be exporting this technology to the world. Instead, we export money and blood while we import oil. Conservatives are absolutely incapable of forward thinking leadership. They are like a car stuck in reverse.



    lol!





    Reply to this comment
    by emelder April 29, 2008 11:27 AM PDT
    Boy oh boy ... if the Iraqi war was really all about oil ... and we have these prices now ... looks like Bush/Cheney/Rumsfield/Gates/Wolfawitz really, really, blew it. It just cost me $45 to fill up my little Honda CRV ... nice going Bush!
    Reply to this comment
    by incog-nito April 29, 2008 11:28 AM PDT
    Has this man ever accepted responsibility for anything in his life? Never, not a single thing. It''s always somebody else to blame. He is the embodiment of perfection itself. Who knows, maybe we''re witness the Second Coming the Messiah Himself.
    Reply to this comment
    by creeper00 April 29, 2008 11:28 AM PDT
    In-effing-credible.

    Headline from ABCNews this morning:
    ''Oil Giants Profit; You Pay More at Pump
    High oil prices led to billions more in profits for BP and Shell.''

    Congress'' fault? Hardly.
    Reply to this comment
    by vblick-2009 April 29, 2008 11:29 AM PDT
    PS I have no problem opening up ANWAR as long as it''s owned and opperated by the US Government and not greedy oil companys.

    Reply to this comment
    by notblue April 29, 2008 11:30 AM PDT
    What is congress doing to deal with these issues???? Nothing, they are investigating fellow political rivals yet AGAIN! THe problems in Washington are not the fault of ONE MAN! THE DEMOCRATIC MAJORITY in BOTH houses of congress have an approval rating lower than the hated BUSH! When are the American people going to see the change they promised before the last election?????? It''s time for the DEms to ACTUALLY DO SOMETHING!
    Reply to this comment
    by ixoye_02 April 29, 2008 11:31 AM PDT
    What an idiot of a president!!! Let''s not forget that the Bush family business is Oil. The doublespeak out of this president goes beyond amazing. I can''t wait for the Arschgesicht to be out of office. And America will be rid of a national disgrace.
    Reply to this comment
    by jersupporter April 29, 2008 11:34 AM PDT
    reedtaz73 - go back to yourself living the American Nightmare. LOL.
    Reply to this comment
    by veteran72 April 29, 2008 11:35 AM PDT
    The Little Drunken Crackhead explains why after 8 years of his disasterous Criminal Rule, we find ourselves up ****** Creek with no paddle....
    But it''s everyone elses fault, he had nothing to do with it....
    What a dumbasss....
    Reply to this comment
    by boatdocster April 29, 2008 11:35 AM PDT
    The reason why oil prices are sky high and the economy is sinking is record debts and deficits, mortgage greed and the bogus Iraq war, all of which have contributed to our current financial state. All occurred on the watch of G.W. Bush.

    Only Shrub could stand there and accuse Congress for his inactions and inept handling of everything since he has taken office.

    If ever a President deserved impeachment, Bush is the one. I use the term President and Bush loosely in the same sentence - He is a total disgrace to the office.
    Reply to this comment
    by bgwinnett April 29, 2008 11:36 AM PDT
    Drill ANWAR...heat some more of the Alberta tar sands... mine the Oil shale in the Rockies...do something!!!
    Reply to this comment
    by mudrose-2009 April 29, 2008 11:37 AM PDT
    We can go nuclear, we can drill off=shore, we can drill in Anwar. We can do a lot to lower the price but the Environmentalists don''t want it and the Dems don''t want it either. They need a b/itching victim and Oil Companies are it. The Dimnowits always try to keep the people happy, now don''t they?
    Reply to this comment
    by mudrose-2009 April 29, 2008 11:37 AM PDT
    We can go nuclear, we can drill off=shore, we can drill in Anwar. We can do a lot to lower the price but the Environmentalists don''t want it and the Dems don''t want it either. They need a b/itching victim and Oil Companies are it. The Dimnowits always try to keep the people happy, now don''t they?
    Reply to this comment
    by roger_inkart April 29, 2008 11:38 AM PDT
    "Unfortunately, on many of these issues, all they''re getting is delay." - Mr. Bush

    Delays? Like delays the majority of the nation who want an end to the occupation of Iraq are suffering from? Ya know, the ones who can actually connect the dots to the failed war and our tanking ecomony?

    Mr. Bush, you are a failure. All the morons who still worship you even more so. You have done more damage to the nation then a month of 9/11s could have.
    Reply to this comment
    by mudrose-2009 April 29, 2008 11:39 AM PDT
    The Little Drunken Crackhead explains why after 8 years of his disasterous Criminal Rule, we find ourselves up ****** Creek with no paddle....
    But it''''s everyone elses fault, he had nothing to do with it....
    What a dumbasss....
    Posted by veteran72

    Yeah, you go ask Pewlosi if she can let us drill in Anwar. You ask her if we can drill off-shore. She''ll have to ask her Unions and the EPA. Hahahaha!
    Reply to this comment
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