Did the Bush Administration really do this?

I happened to just be watching Jon Stewart, I seldom ever watch TV, and he had Jimmy Carter as his guest.

Somewhere down the line in the conversation, Stewart brought up North Korea. Carter said how he helped Clinton draft a treaty/negotiation/whatever you want to call it with North Korea. However, when Bush arrived, Bush (and/or his administration) practically “dumped” the negotiation in the wastebasket and labeled North Korea as an “Axis of Evil.”

I want to know the accuracy of this story.