Bush would have been skewered as a heartless, venal aristocrat had he given your answer. He’d have come in 3rd behind Perot and, likely, the GOP would never have recovered.
Of course he would have by the MSM. That would just add even more to his vote totals.
The big problem GHWB had in '92 was that the GOP base couldn't get enthused about him. And they felt betrayed by his tax increase. He could have won back their hearts with a good answer to the pony-tailed guy. And in that, I include a lot of the Perot voters.