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" "I can tell you, and tell you now, that I am prepared to veto any bill that has as its purpose a Federal bailout of New York City to prevent a default.… It encourages the continuation of "politics as usual" in New York, which is precisely not the way to solve the problem.
Gerald Rudolph Ford Jr. (born Leslie Lynch King Jr.; July 14, 1913 – December 26, 2006) was an American politician who served as the 38th president of the United States from 1974 to 1977. Prior to this he was the 40th vice president of the United States, serving from 1973 until President Richard Nixon's resignation in 1974. He was the first person appointed to the vice presidency under the terms of the 25th Amendment, following the resignation of Vice President Spiro Agnew on October 10, 1973. Becoming president upon Richard Nixon's departure on August 9, 1974, he claimed the distinction as the first and to date the only person to have served as both vice president and president of the United States without being elected to either office. Before ascending to the vice presidency, Ford served 25 years as the U.S. representative from Michigan's 5th congressional district, the final 9 of them as the House minority leader.
Biography information from Wikiquote
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The veto is a President's Constitutional right, given to him by the drafters of the Constitution because they wanted it as a check against irresponsible Congressional action. The veto forces Congress to take another look at legislation that has been passed. I think this is a responsible tool for a president of the United States, and I have sought to use it responsibly.