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CNN Live Today

Bush Will Sign Arms Reduction Treaty

Aired May 13, 2002 - 12:01   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
BILL HEMMER, CNN ANCHOR: First up this hour, though, a deal in the works for a major reduction in nuclear weapons. In the words of President Bush, that treaty he will sign in Moscow later this month will, quote, "liquidate the legacy of the Cold War."

Kelly Wallace traveling with the president, live today in Chicago -- Kelly, hello.

KELLY WALLACE, CNN WHITE HOUSE CORRESPONDENT: Hello to you, Bill. I'm coming to you from a UPS warehouse here in Chicago, where the president just wrapped up talking about welfare reform. The president telling the audience here what he told reporters back in Washington, that the U.S. and Russia have struck a landmark deal. Both countries agreeing to dramatically reduce their offensive nuclear weapons. The president hailing this, really, as a turning point in the relationship between the former Cold War rivals.

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GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES: I look forward to going to Moscow to sign this treaty. It will be the culmination of a lot of months of hard work, and a relationship built on mutual trust that I established with President Putin in Slovenia. This is good news for the American people today. It will make the world more peaceful and put behind us the Cold War once and for all.

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WALLACE: And here is a look at the numbers. Currently, both countries have anywhere between 5,000 and 6,000 nuclear warheads. Both countries agreeing to reduce that number by about two-thirds, to between 1,700 and 2,200 warheads by 2012.

Now to get this agreement, each side giving a little bit, because the Russians very much wanted this to be a treaty. Russian President Vladimir Putin making that very, very clear to President Bush when the two leaders met at the president's ranch in Crawford, Texas. The president wanted something a bit more informal. In the end, though, agreeing that it should be a treaty so that it will go to the United States and to the Russian's (UNINTELLIGIBLE) for ratification.

The U.S., though, winning a point, though, as well. The United States wanted to store some of these excess warheads in the case of any global emergency. The Russians were balking at that. In the end, both countries agreeing that some of the warheads would be stored and some would be destroyed or dismantled.

Bill, you know, both countries were agreeing to do this even if the two sides didn't reach an agreement. So you could say this has been a somewhat easy issue between the two sides. Thorny issues remain, such as Russia's concerns about the U.S. going forward with that missile defense system and U.S. concerns about Russian proliferation of (UNINTELLIGIBLE) technology -- Bill.

HEMMER: And, Kelly, quickly, while we have you, what are you doing in Chicago?

WALLACE: In Chicago here, the president talking, as I was saying, about welfare reform. You know the House of Representatives expected to talk about this. We authorized the 1996 Welfare Reform Bill. The president has his own ideas.

He wants to stiffen work requirements; he also wants to give states more flexibility. And somewhat controversial, he wants more money to go to promoting marriage, more counseling to keep families together. So the president talking about this, hoping the House will pass his ideas this week -- Bill.

HEMMER: Kelly, thank you -- Kelly Wallace again in Chicago.

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