Yes, because he [I think] believes that it will help his cause because the "third world" does not always have the luxury of opposing George Bush (when Woj returns from his business trip perhaps he will add that US-hating is the luxury of the US left ;-)). If in the long-term Bush is bad (for all people), in the short-term (a) he may not necessarily be and (b) he is not going away. Bush in this case is also not the dangerous fool we know but the person and institution(s) making the decisions that affect these "third world" people. If he can be influenced to throw some US weight and aid towards some of these problems, then why not?
I suspect that those currently fixated on smear jokes and tax payments have substantive criticisms to offer, and I am eager to hear those, for I admit that my positive view of Bono is based only on the news reports of his broad effort and commitment to causes which I naturally identify with leftism and humanism. But the clowning around whether it be about Bono or Nathan Newman, is at best occasionally funny, but never edifying!
--ravi