JENNIFER LOVEN, Associated Press Writer, reported that Bush concedes rough time in economy. Trying to calm jitters about the economy, President Bush concedes that the country obviously is going through a tough time.
But, in a speech Friday to The Economic Club of New York, Bush says this is not the first time this has happened and say he's certain the economy will eventually ride out its troubles.
The president said he speaks from the position of optimism.
The president spoke as evidence of an ailing economy piled up. The dollar fell, oil and gold hit record highs, the economy is shedding jobs, retail sales saw a big drop and the effects of a severe credit squeeze linger. Economic worries have replaced the Iraq war as the No. 1 concern of voters in this presidential election year.
