ADA, Mich. (AP) -- President Bush says the bank rescue plan is limited because federal ownership of businesses is not good for the United States.
After having lunch Wednesday with business owners in Ada, Mich., Bush said that, frankly, he doesn't want the government involved in owning private businesses.
But he says the $250 billion cash infusion into the nation's banks is necessary in the short run to unfreeze credit markets and instill confidence in the economy.
He says the deal may actually make money for taxpayers in the long term.
Bush predicts the economy will weather the downturn and come out "better than ever."
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