But just for a moment, let's play devil's advocate and say that Bush Honestly Thought Saddam Was Building Nukes And Wasn't Lying When He Said So. In that case, the joke is merely unfunny rather than in exceptionally poor taste. And, actually, if you think about it, that joke might help reinforce his position, if in fact that's his position (still?).
Appreciate the honesty. That's more or less where I'm at, and why it doesn't bother me too much. My initial thought was, "well, at least he knows he screwed up in a big way and doesn't mind a little self-deprecating about it."
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~ John