http://www.cnn.com/2005/POLITICS/11/11/bush.intel/index.html
While I do not believe the administration actually manufactured evidence, I do believe they ignored conflicting evidence, and came to the wrong conclusion about the threat that Iraq posed. Only the evidence that supported the President's conclusion was presented to the Congress and the American people.
Bush's argument is pure red herring. He has no substance to defend himself with, so he resorts to changing the subject to what "signal" the accusations send people.