In an appearance on CNN's "State of the Union" program, Cheney said President Barack Obama is grappling with difficult economic problems, but he did not inherit them from the policies of his predecessor, George W. Bush.
"There's no question but what the economic circumstances that he inherited are difficult ones," Cheney said. "You know, we said that before we left. I don't think you can blame the Bush administration for the creation of those circumstances. It's a global financial problem."
Cheney said the U.S. economy faltered along with the deterioration of the global marketplace.
"This isn't something that happened just in the Bush administration or just in the United States," Cheney said. "We are in the midst of a worldwide economic period of considerable difficulty here."