WASHINGTON, Jan 16: US President George W. Bush delivered a farewell speech on Thursday night, admitting that despite his best efforts the threat of another major terrorist attack looms large over America.

“The gravest threat to our people remains another terrorist attack. Our enemies are patient and determined to strike again … and we must meet them. We must resist complacency. We must keep our resolve. And we must never let down our guard,” he said.

In his five-page, 13-minute speech, Mr Bush seemed to have an eye on history, and another on how his departure sets up the incoming presidency of Barack Obama.

“You may not agree with some tough decisions I have made,” Mr Bush said, “but I hope you can agree that I was willing to make the tough decisions.”

He said he would have handled some matters differently if given another chance.

“Like all who have held this office before me, I have experienced setbacks,” Mr Bush said in his speech delivered from the East Room of the White House. “There are things I would do differently if given the chance. Yet I have always acted with the best interests of our country in mind.”

The speech was the swan song of a departing chief executive who flew with the first lady to Camp David on Friday afternoon for a final weekend in the rustic seclusion of the presidential retreat in Maryland.

In choosing to end his term with a final address, Mr Bush followed the tradition of Presidents Reagan and Clinton. On the other hand, President Carter left office without delivering a farewell address. Mr Bush, who leaves with some of the most consistently low popularity ratings in recorded history, emphasised how he stayed engaged with the war on terror since Sept 11, 2001.

“As the years passed, most Americans were able to return to life much as it had been before 9/11 – but I never did,” he said. “Every morning, I received a briefing on the threats to our nation. And I vowed to do everything in my power to keep us safe.” Echoing an oft-stated theme of his administration, the president added, “There is legitimate debate about many of these decisions. But there can be little debate about the results. America has gone more than seven years without another terrorist attack on our soil.”

In a day fraught with historical predictions, Secretary of State Condoleezza Rice predicted history would be kind to Bush.

Mr Bush, however, noticed that the inauguration of his successor — first non-white ever to occupy the White House — was more of a historic occasion than his own departure.

“Standing on the steps of the Capitol will be a man whose story reflects the enduring promise of our land,” he said. “This is a moment of hope and pride for our whole nation. And I join all Americans in offering best wishes to President-elect Obama, his wife Michelle and their two beautiful girls.”

Mr Bush ended his speech citing the “privilege of a lifetime” — serving as president. “And so, my fellow Americans, for the final time,” he said, “good night.”