George Bush has promised to steer clear of criticizing his successor's policies, but he seemed to come awfully close yesterday during a speech at SMU. "As the world recovers, we will face a temptation to replace the risk-and-reward model of the private sector with the blunt instruments of government spending and control," Bush said. "History shows that the greater threat to prosperity is not too little government involvement, but too much."
During a speech to unveil details of his planned presidential library at the school, Bush added that "the role of government is not to create wealth but to create the conditions that allow entrepreneurs and innovators to thrive," notes the LA Times. Bush, of course, approved a $700 billion bailout near the end of his tenure, but that "went against my free-market instincts" and was necessary to prevent a "major global depression."