Transcript of interview with President Bush

CNBC: Mr. President, the war in Iraq has cost Americans nearly 3,000 lives and nearly $400 billion. You're talking about a change in tactics. Tell us about that change.

Pres. BUSH: Well, I've been talking about a change in tactics ever since I--ever since we went in, because the role of the commander in hief is to say to our generals, `You adjust to the enemy on the battlefield.' The goal is an Iraq that can defend itself, govern itself, sustain itself and serve as an ally in the war on terror. The goal is to get rid of a threat, which we did.And now the goal is to help this country achieve its objectives, the objectives of 12 million people. And so we're constantly adjusting tactics to meet that goal.

I'll give you an example. IED started to flourish, and so we began to spend money here in Washington, DC, and around the country to make sure that our soldiers had better equipment when it came to defending against IED. They started developing ways to detect and/or trigger an IED before people came into harm's way. So we're constantly adjusting tactics. And we'll continue to do so.

I know there's a lot of speculation about the tactics, but the--what you got to know is the meeting I had with the generals on Saturday was--the meeting went like this: `We want to win.' `Yes, sir.' `What are we doing to adjust to the enemy?' `And here are some options, Mr. President.' And my answer is, `You choose, and I support you.'

CNBC: Let me ask you this. A former top official in your administration has predicted privately that the US will start withdrawing troops within six months.

Pres. BUSH: Mm-hmm.

CNBC: Is that possible?

Pres. BUSH: I don't know who that is, and I want to get our troops home as fast as anybody else. On the other hand, I understand the consequences of failure, and we're not going to fail in Iraq. As a matter of fact, we have a strategy for victory. Failure in Iraq would be terrible for future generations of Americans because if you provide safe haven for these terrorists who attacked us, there's wealth that they could use to enhance their capacities to develop new kinds of weapons that would hurt us. They want to topple modern governments. In other words, there's--they had--the al-Qaeda and its affiliates have objectives in Iraq. And we're not going to leave Iraq until we get the job done.

As to when our troops come home, that'll be depending on those on the ground whose responsibility it is to achieve victory. And if they were to say, `I need more troops or less troops,' I will support them.

CNBC: My final question, sir: What is the biggest risk to losing one of the houses of Congress in the midterm elections? Is it the role--the reversal of the tax cut plan, or weakening the war in Iraq?

Pres. BUSH: Mm. I refuse to answer that question. It's a very tricky question that you asked me. I'll answer it, but I'm going to refuse to answer it the way you expect me to. I--we're not going to lose either body. And thereason why is the economy's strong and we got a plan for victory in Iraq. The other folks will raise the taxes if the end up with power, and the other folks don't have a plan for victory in Iraq. As a matter of fact, a lot of them want to leave before the job is done. So there's a clear difference of opinion between the two political parties. And I believe that once the people get in the ballot boxes and take a hard look at the stakes, they'll decide to stay with our party.

CNBC: Mr. President, with all due respect, that doesn't have--that hasn't done anything for the polls.

Pres. BUSH: I know, but I think--my advice--you didn't ask for my advice, but I'll be glad to give you my advice--is let's watch what happens on the poll that actually matters, and that's what happens on--two weeks from tomorrow.

CNBC: Mr. President, good to have you with us.

Pres. BUSH: Thank you.

CNBC: Thanks very much.

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