Speaking to dozens of the members of the U.S. Olympic team in the Rose Garden, the president said he hopes they will represent the "American character" to the world, being "humble in victory and gracious in defeat."

    "By showing respect for your competitors, you will demonstrate America's respect for the world, " he said.

    Bush also said he is very excited about attending the opening ceremony of the Beijing Olympics and he is "fired up and ready to go," apparently borrowing a famous phrase from U.S. Democratic presidential hopeful Barack Obama.

    The U.S. Olympians presented the president a U.S. Olympic team jersey printed with "Bush 08", which Bush gladly accepted.

    The president, a sports fan himself, jokingly said that if the U.S. Olympic team doesn't think he's too old, maybe he can compete in the Olympic bicycle games.

    Bush will attend the opening ceremony of the Beijing Olympics on Aug. 8 and will probably watch some early basketball games and swimming events.