Third. Bush. Term.:

In a speech to the Conservative Political Action Conference in Washington, Bush offered an implicit endorsement of McCain's bona fides as a true conservative in the face of deep skepticism on the right. Although he did not mention McCain by name, the president said whoever ends up being the Republican nominee will represent conservative values.

"We have had good debates and soon we will have a nominee who will carry a conservative banner into this election and beyond," Bush said. "The stakes in November are high. . . . Prosperity and peace are in the balance. So with confidence in our vision and faith in our values, let us go forward, fight for victory and keep the White House in 2008."

My favorite part: "Prosperity and peace are in the balance..." so vote for the guy who wants to be in Iraq for 100 years!

Earlier today, TIME Magazine's Mark Halperin, who broke the story of Mitt Romney's departure from the race yesterday, says that privately, President Bush sees John McCain as the best person to carry his (disastrously failed) agenda forward. (Transcript of the clip below.)

Steve Doocy: Do you think it's interesting that the president will not mention John McCain by name today?

Mark Halperin: Mike Huckabee is still formally in the race. The President behind the scenes has told people for months that he thought McCain would be the nominee. Even during some of those dark periods he still thought he could win. And also that McCain would be the best to carry forth his agenda. I've got news for you before the president starts, Karl Rove, a friend of Fox, Fox Contributor, yesterday delivered a check for $2,300 to John McCain." [Fox News, Fox and Friends, 2/8/2008]

That sounds about right.

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