Bush gives final press conference as President

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On the domestic front, Bush defended his actions after the attacks on New York and Washington on September 11th, 2001.

President George W. Bush holds his last formal news conference at the White House in Washington, Monday, Jan. 12, 2009.  (AP Photo/J. Scott Applewhite)

He referred to the enormous weight Obama is about to experience describing what it might feel like on January 20th when Obama enters the Oval Office for the first time as president.

George W. Bush, US President, said, "The most urgent threat that he'll have to deal with, and other Presidents after him will have to deal with, is an attack on our homeland. You know, I wish I could report that's not the case, but there's still an enemy out there that would like to inflict damage on America."

One of the thorny issues Bush is leaving to his successor is a troubled US economy.

On Monday, he said it was disappointing to witness the country's financial collapse during his tenure.

George W. Bush, US President, said, "Why did the financial collapse have to happen on my watch? Just pathetic isn't it? Self-pity. And I don't believe President-elect Obama will be full of self pity."

Bush said he was leaving it to Obama to ask Congress to release the second half of a 700 billion US dollar funds designed to avert a collapse of the US financial system.