U.S. President George W. Bush talks about the U.S. economy

In a broadcast from the White House Rose Garden, President Bush acknowledges economic hardtimes, but refuses to say that the U.S. is in a recession. He discusses the United States' refining capacity and urges Congress to OK the building of more refineries. He also endorses a decrease in farm subsidies, decries Congress' inaction in response to the foreclosure crisis, and supports federal student loan reform. He also answers questions from reporters.