He said the world had ignored the writings of Lenin and Hitler "and paid a terrible price" - adding the world must not to do the same with al-Qaeda.
Mr Bush has been defending his security strategy as mid-term elections loom.
His speech on Tuesday - the day following the US Labor Day holiday - coincided with the country's traditional start date for election campaigning.
"Bin Laden and his terrorist allies have made their intentions as clear as Lenin and Hitler before them," he said.
Bin Laden is not a top priority:
Barnes said that Bush told him capturing bin Laden is “not a top priority use of American resources.” Watch it.
It's unclear if taking Bin Laden off the world stage would really reduce any threats of terrorism - how would I know - but for some reason I thought bringing a mass murderer to justice might be a wee bit important.
But, more than that, Bush has equated Bin Laden with Hitler. Then said he's no big deal.