Trying to calm jitters about the economy, President Bush conceded on Friday that the country “obviously is going through a tough time” but expressed confidence about a rebound.

In a speech to The Economic Club of New York, Bush said this was not the first time the economy has been rattled and that he is certain that it will ride out its troubles. “These are uncertain times,” he said.

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.

YWN has posted the entire text of the speech HERE.

(Source: WCBSTV)