Bush Lacks Free Market Principles

Despite his statement to the contrary, Bush is not a free market guy. If he was, he'd realize it's the free markets that are causing the Big Three to lose in the market. Their costs are too high, mostly due to the unions.

There is a big difference between reluctantly supporting a failing banking system and supporting a failing manufacturer. Normal healthy companies rely on lines of credit. If these companies can't get loans to do business that can have bad effect on the economy.

Bush says sacrificed free-market principles to save economy

WASHINGTON (AFP) — US President George W. Bush said in an interview Tuesday he was forced to sacrifice free market principles to save the economy from "collapse."

"I've abandoned free-market principles to save the free-market system," Bush told CNN television, saying he had made the decision "to make sure the economy doesn't collapse."

Bush's comments reflect an extraordinary departure from his longtime advocacy for an unfettered free market, as his administration has orchestrated unprecedented government intervention in the face of a dire financial crisis.

"I am sorry we're having to do it," Bush said.

But Bush said government action was necessary to ease the effects of the crisis, offering perhaps his most dire assessment yet of the country's economy.