Bush: 'I'm worried about gasoline prices'

Insana: How do you reassure them that their decision to rehire you was the right one?

President Bush: Well, to keep pro-growth policies in place. Keep taxes low. It'd be a disaster to raise taxes, in my judgment. It would take money out of the economy, it would give it to the government to spend, it would hurt small businesses and entrepreneurs. Secondly, to continue to push for tort reform. Third, work on an energy bill, an energy plan with Congress, and get a bill to my desk. Make sure we deregulate to the extent possible to encourage investment of capital. Work on a strong dollar policy. Open up markets for U.S. products overseas.

But you know something, Ron? In my position, you know, as I say, there's all kinds of surveys saying all kinds of things. And the only thing I know to do is to stay true to my philosophy and continue to enhance the entrepreneurial spirit in America. That's one of the things that makes the country unique and strong, the fact we got people from all walks of life willing to start a business, for example, and the small business sector of America is very strong and very vibrant today, which to me says that the long-term economic health of the country is in good shape.

Insana: What about the trade deficit? The G-7 over the weekend said that is one of the biggest economic problems in the world. What can you do?

President Bush: Well, it depends if you're selling or buying.

Insana: True.

President Bush: But one of the things, obviously, we've got to do in terms of the trade deficit is make sure America's still a great place to do business in, to invest, that our markets stay liquid, that people feel secure in investing here, and that it's, and that it's just the best place to get a decent rate of return. And that's, that's the way our markets are and we need to keep them that way. We don't need an intrusive government, you know, burdening the capacity of money to move in and out in a fair way.

Secondly, we've got to make sure that people's currencies are properly valued. You got to -- the biggest part of our trade deficit is energy, as well as China. And obviously on the energy front we've got to become more diversified. That's why I support renewables and alternative sources of energy and, and safe nuclear power. But, and on, and on, with China, you know, obviously we're at a competitive disadvantage to the extent that their currency won't float. And so it's not a, certainly not going to be a panacea to get them to float the currency. On the other hand, we got -- we'll continue to press to get them to do so.

Insana: Mr. President, today is the 10th anniversary of the Oklahoma City bombing and a lot of people are reflecting on that act of terrorism --

President Bush: Yes.

Insana: -- that occurred a decade ago, one that we almost forget in light of what's happened since. Can I get your reflections on that event and what it means still even to the war on terror, even if that's a domestic rather than international issue?

President Bush: Well, I appreciate that, Ron. First of all, I know there are people who still suffer in Oklahoma and elsewhere who lost a loved one during that horrific bombing. I have some friends who were in the building, Secret Service agents that had come down when my dad was president, come down to Dallas and, and I hope their loved ones are doing well.

Look, it goes to show that violence can erupt anywhere, any time, and, and as a society we've got to be diligent to those who would try to harm us. It also goes to show that terrorist acts not only come from abroad but can come here at home. The positive news in this instance is the City of Oklahoma came together in strong compassion and decency and care and hope for those who suffered, and our justice system worked. The two perpetuators to that crime are -- have been held to account.

Insana: Mr. President, thank you for your time. Appreciate it.

President Bush: Yes, sir.

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