A Day in the Life of President Bush...11/15/08 and 11/16/08

Friday evening, President Bush welcomed leaders from the G20 nations, along with the heads of key international organizations, to the White House for a working dinner on the eve of the Summit on Financial Markets and the World Economy. LINK

Today, the President attended the Summit on Financial Markets and the World Economy at the National Museum Building in Washington, D.C. REMARKS

The President delivered his Weekly Radio Address from Washington. In Focus: The Economy LINK

PHOTO OF THE DAY:

President George W. Bush offers a toast Friday, Nov. 14, 2008, at dinner with Summit on Financial Markets and World Economy participants in the State Dining Room of the White House. (Daisy sez: I picked this because it is not often we see a photo of boys night out at the WH (okay, there were two females there from Germany and Argentina).

QUOTE OF THE DAY:

President Bush from his weekly radio address: "In the long run, Americans can be confident in the future of our economy. We will work with our partners around the world to address the problems in the global financial system. We will strengthen our economy. And we will continue to lead the world toward prosperity and peace."

President's Radio Address

Fact sheet In Focus: Economy

THE PRESIDENT: Good morning. This weekend I am hosting a summit on the global financial crisis with leaders of developed and developing nations. By working together, I'm confident that with time we can overcome this crisis and return our economies to the path of growth and vitality.

I know many of you listening are worried about the challenges facing our economy. Stock market declines have eroded the value of retirement accounts and pension funds. The tightening of credit has made it harder for families to borrow money for cars, homes, and education. Businesses have found it harder to get loans to expand their operations and create jobs. Many nations have suffered job losses and have serious concerns about the worsening economy.

Nations around the world have responded to this situation with bold measures, and our actions are having an impact. Credit markets are beginning to thaw and businesses are gaining access to essential short-term financing. It will require more time for these improvements to fully take hold and there will be more difficult days ahead, but the United States and our partners are taking the right steps to get through the crisis.

As we address the current crisis, we also need to make broader reforms to adapt our financial systems to the 21st century. So during this summit, I will work with other leaders to establish principles for reform, such as making markets more transparent and ensuring that markets, firms, and financial products are properly regulated.

All these steps will require decisive actions from governments around the world. At the same time, we must recognize that government intervention is not a cure-all. While reforms in the financial sector are essential, the long-term solution to today's problems is sustained economic growth. And the surest path to that growth is free markets and free people.

This is a decisive moment for the global economy. In the wake of the financial crisis voices from the left and right are equating the free enterprise system with greed, exploitation, and failure. It is true that this crisis included failures by lenders and borrowers, by financial firms, by governments and independent regulators. But the crisis was not a failure of the free market system. And the answer is not to try to reinvent that system. It is to fix the problems we face, make the reforms we need, and move forward with the free market principles that have delivered prosperity and hope to people around the world.

The benefits of free market capitalism have been proven across time, geography, and culture. Around the world free market capitalism has allowed once impoverished nations to develop large and prosperous economies. And here at home, free market capitalism is what transformed America from a rugged frontier to the greatest economic power in history.

Just as important as maintaining free markets within countries is maintaining the free movement of goods and services between countries. There are many ways for nations to demonstrate their commitment to open markets. The United States Congress can take the lead by approving free trade agreements with Colombia, Panama, and South Korea before adjourning for the year.

In the long run, Americans can be confident in the future of our economy. We will work with our partners around the world to address the problems in the global financial system. We will strengthen our economy. And we will continue to lead the world toward prosperity and peace.

Thank you for listening.

President George W. Bush welcomes Saudi Arabia King Abdullah bin Abdul Aziz Al Saud to the Summit on Financial Markets and the World Economy Saturday, Nov. 15, 2008, at the National Museum Building in Washington, D.C. White House photo by Chris Greenberg

President George W. Bush welcomes Mr. Dominique Strauss-Kahn, Managing Director of the International Monetary Fund, to the Summit on Financial Markets and the World Economy Saturday, Nov. 15, 2008, at the National Museum Building in Washington, D.C. White House photo by Eric Draper

President George W. Bush welcomes Prime Minister Taro Aso of Japan, to the Summit on Financial Markets and the World Economy Saturday, Nov. 15, 2008, at the National Museum Building in Washington, D.C. White House photo by Eric Draper

President George W. Bush welcomes Prime Minister Gordon Brown of the United Kingdom, to the Summit on Financial Markets and the World Economy Saturday, Nov. 15, 2008, at the National Museum Building in Washington, D.C. White House photo by Eric Draper

President George W. Bush welcomes Prime Minister Manmohan Singh of India, to the Summit on Financial Markets and the World Economy Saturday, Nov. 15, 2008, at the National Museum Building in Washington, D.C. White House photo by Eric Draper

President George W. Bush welcomes President Lee Myung-bak of the Republic of South Korea, to the Summit on Financial Markets and the World Economy Saturday, Nov. 15, 2008, at the National Museum Building in Washington, D.C. White House photo by Eric Draper

President George W. Bush welcomes Italy's Prime Minister Silvio Berlusconi to the Summit on Financial Markets and the World Economy Saturday, Nov. 15, 2008, at the National Museum Building in Washington, D.C. White House photo by Chris Greenberg

President George W. Bush welcomes Spain's President Jose Luis Rodriguez Zapatero, a represntative of the European Union, to the Summit on Financial Markets and the World Economy Saturday, Nov. 15, 2008, at the National Museum Building in Washington, D.C. White House photo by Chris Greenberg

President George W. Bush welcomes World Bank President Robert B. Zoellick to the Summit on Financial Markets and the World Economy Saturday, Nov. 15, 2008, at the National Museum Building in Washington, D.C. White House photo by Chris Greenberg

President George W. Bush welcomes French President Nicolas Sarkozy to the Summit on Financial Markets and the World Economy Saturday, Nov. 15, 2008, at the National Museum Building in Washington, D.C. White House photo by Chris Greenberg

President George W. Bush welcomes Russian Federation President Dmitry Medvedev to the Summit on Financial Markets and the World Economy Saturday, Nov. 15, 2008, at the National Museum Building in Washington, D.C. White House photo by Chris Greenberg

President George W. Bush welcomes Canadian Prime Minister Stephen Harper to the Summit on Financial Markets and the World Economy Saturday, Nov. 15, 2008, at the National Museum Building in Washington, D.C. White House photo by Chris Greenberg

President George W. Bush welcomes South Africa President Kgalema Motlenthe to the Summit on Financial Markets and the World Economy Saturday, Nov. 15, 2008, at the National Museum Building in Washington, D.C. White House photo by Chris Greenberg

President George W. Bush welcomes Prime Minister Recep Tayyip Erdogan of Turkey to the Summit on Financial Markets and the World Economy Saturday, Nov. 15, 2008, at the National Museum Building in Washington, D.C. White House photo by Chris Greenberg

President George W. Bush welcomes Argentina President Cristina Fernandez de Kirchner to the Summit on Financial Markets and the World Economy Saturday, Nov. 15, 2008, at the National Museum Building in Washington, D.C. White House photo by Chris Greenberg

President George W. Bush welcomes H.E. Jan Cornelis de Jager, Netherland's Minister of Finance, to the Summit on Financial Markets and the World Economy Saturday, Nov. 15, 2008, at the National Building Museum in Washington, D.C. White House photo by Eric Draper

President George W. Bush welcomes Mexico's President Felipe Calderon to the Summit on Financial Markets and the World Economy Saturday, Nov. 15, 2008, at the National Museum Building in Washington, D.C. White House photo by Chris Greenberg

President George W. Bush welcomes the People's Republic of China President Hu Jintao to the Summit on Financial Markets and the World Economy Saturday, Nov. 15, 2008, at the National Museum Building in Washington, D.C. White House photo by Chris Greenberg

President George W. Bush welcomes the Brazil's President Luiz Inacio Lula da Silva to the Summit on Financial Markets and the World Economy Saturday, Nov. 15, 2008, at the National Museum Building in Washington, D.C. White House photo by Chris Greenberg

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.