He called the presidency a bully pulpit, but by bully, he meant splendid (he was known to exclaim, "Bully!" when he liked something). Bully meaning a schoolyard punk (for example) came about later I think.
coined the phrase when he was President. But he used "bully" as an exclamation, like "great!" so the meaning it has today may not be the same as what he intended.
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