President Bush Holds Year-End News Conference [Transcript]

washingtonost.com ^ | 12/20/2007 | CQ Transcripts Wire

[syriacus]

BUSH: Good morning.

I hope you all enjoyed the holiday reception at the White House as much as Laura and I enjoyed it. We took an inventory of the silverware, and this year, only a few pieces were missing.

So, like, if you see Gregory, tell him to bring them back.

(LAUGHTER)

I've decided to come in and visit with you because you're heading off for the holidays and so are we. And we wish you a happy holidays.

The -- I think recent days have been a moment that the country can be proud of.

In the past few days, we have stopped a tax increase on the middle-class families. We improved our energy security. We delivered a relief to struggling homeowners. And we funded our troops.

I want to thank the members of both parties for their hard work in these areas. I'm pleased that we have been able to end this year on a high note by moving beyond our differences and achieving important results for the American people.

[syriacus]

More at link

[chrisser]

We improved our energy security

We did exactly the opposite and likely damaged our future economy in the process.

But it made everyone involved feel warm and fuzzy, so the sellout was OK.

[syriacus]

Bush’s comments later in the news conference:

if you’re truly serious about dealing with greenhouse gases, then it seems like to me you ought to be a strong supporter of nuclear power

we do have 250... years of coal

you’re trying to get me to prejudge the outcome of this [CIA tapes] inquiry, .... Let’s wait and see what the facts are.

And there’s isolationist tendencies in this world. People would rather... stay at home.

It’s very important that Lebanon’s democracy succeed.

I’ve got an exciting 13 months ahead.

[I won’t comment now on the presidential candidates, but]..after the primaries are over, will help my party unify.

I believe we will keep the White House

We have been reducing the deficit. Pro- growth economic policies work. By cutting taxes, the economy grows, which yields more revenues for the treasury.

I’m fine with capital coming in from overseas to help, you know, bolster financial institutions.

[syriacus]

Bush:

Congress passed a good energy bill. The legislation I signed yesterday will reduce our country’s dependence on foreign oil by increasing the supply of alternative fuel sources and increasing fuel economy standards.

[sanjacjake]

He should have vetoed it. Had chance to let people
know that he doesn’t approve of these addons to the
budget. especially a jogging lane....etc.etc. JK

[stylin19a]

It will allow American families to secure lower mortgage payments without facing higher taxes.

This is a tax reform bill that takes away the penalty that a homeowner -- tax penalty a homeowner will receive if he or she renegotiates the loan to a lower rate -- to a lower value for the house.

can someone explain this ? what tax penalty ?