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 Home > News & Policies > October 2008

For Immediate Release
Office of the Press Secretary
October 6, 2008

President Bush Meets with Small Business Owners in Texas, Discusses Economy
Olmos Pharmacy
San Antonio, Texas

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     Fact sheet In Focus: Economy

10:44 A.M. CDT

THE PRESIDENT: We're glad to be here in San Antonio. I've just had a very illuminating conversation with small business owners here. We have a car dealer, a automobile repair shop, a restauranteurs -- two restauranteurs. And it's clear that these small business owners are dealing with the effects of a credit crunch. And by that I mean that they're having trouble getting money to be able to continue to either expand their business or to be able to -- money to help their consumers be able to buy their products. And it's -- and I told them one of the reasons why, you know, I was so strongly for this rescue package was inherent in the strategy of the rescue package is to free up credit, is to get money moving.

President George W. Bush and Mrs. Laura Bush are joined by local small business leaders for remarks on the economy Monday, Oct. 6, 2008, outside Olmos Pharmacy in San Antonio, Texas.  White House photo by Eric Draper And it's going to take a while. I signed the bill on -- last week, but it's going to take a while to get in place a program that, one, is effective; two, that doesn't waste taxpayers' money -- we don't want to rush into this situation and not have the program be effective. It's going to take a while to restore confidence in the financial system. But one thing people can be certain of is that the bill I signed is a big step toward solving this problem.

A lot of people here in Texas and around the country are not pleased with the government having to take the steps they took. Their question is, I pay my bills, I pay my mortgage, why -- why are you helping Wall Street. And the answer is because had we not done anything, people like the folks behind me would be a lot worse off. We'll make sure, as time goes on, this doesn't happen again. In the meantime, we got to solve the problem. And that's why people sent me to Washington, D.C. When you see a problem, put a team together and solve it.

And I want to thank you all for your time. I'm glad to be back here in Texas. I miss my friends in Texas. I am -- you know, people say, are you looking forward to coming home. Yes, I'm looking forward to living here, but in the meantime, it looks like I'm going to have a lot of work to do between today and when the new President takes office. But Laura and I are glad to be with our friends and thank you for your time. Thank you all very much.

END 10:47 A.M. CDT