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CNN Live Today

Bush Pushes for Economic Stimulus

Aired January 29, 2003 - 11:07   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.


DARYN KAGAN, CNN ANCHOR: Well, President Bush is traveling to Grand Rapids, Michigan today. In fact, we have gotten word that he has landed in Grand Rapids. On board Air Force One, we are getting word that White House spokesman Ari Fleischer is referring to what they're calling the final phase in the standoff with Iraq, what they -- during the final phase -- this is a quote from Ari Fleischer -- "what is about to unfold is a diplomatic window in which Mr. Bush and the United States would intensify consultations with European allies and the United Nations." That is a quote from Ari Fleischer, and we're getting that report from the Reuters news service.
With more about the State of the Union address that millions of Americans watched last night and reaction to that, let's go to Suzanne Malveaux at the White House -- Suzanne, good morning.

SUZANNE MALVEAUX, CNN WHITE HOUSE CORRESPONDENT: Good morning, Daryn. President Bush is taking his agenda on the road. As you mentioned, he is in Grand Rapids, Michigan. That's where he's trying to sell his package to the American people. He's really focusing on the domestic issues there, the need to strengthen the economy and create jobs.

He is pushing for the economic stimulus package -- that is the $674 billion plan made up of tax cuts as well as incentives for small businesses. He is also pushing forward for $400 billion to overhaul Medicare, including providing a prescription drug coverage for elderly, and he also wants to put a cap on medical liability rewards.

Last night, President Bush outlining his domestic agenda, as well as the international priorities in his State of the Union address, and with the projected budget deficit of more than $300 billion, a sluggish economy, and some critics claiming that he's trying to privatize Medicare, Democrats seizing on this saying they believe the president is not doing enough -- not paying enough attention to domestic issues, but the White House reassuring Americans that yes, the president also has his eye on the money.

(BEGIN VIDEO CLIP)

GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES: After recession, terrorist attacks, corporate scandals, and stock market declines, our economy is recovering. Yet, it's not growing fast enough or strongly enough. With unemployment rising, our nation needs more small businesses to open, more companies to invest and expand, more employers to put up a sign that says help wanted.

(END VIDEO CLIP) MALVEAUX: Now Daryn, the administration, of course, very much aware that this is on Americans' minds, their concerns about jobs, the economy. It's also going to be, of course, a very big issue for Election 2004, and as people know, they realize investors and businesses really stagnating, not taking risks at all because they don't know the answer to the critical question whether or not the United States is going to go to war with Iraq.

That is something -- another reason why the administration realizes that it needs to deal with Saddam Hussein sooner as opposed to later, that there's a sense of urgency in that as well, that the two are very much tied -- Daryn.

KAGAN: Suzanne Malveaux at the White House. Suzanne, thank you.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com






Aired January 29, 2003 - 11:07   ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
DARYN KAGAN, CNN ANCHOR: Well, President Bush is traveling to Grand Rapids, Michigan today. In fact, we have gotten word that he has landed in Grand Rapids. On board Air Force One, we are getting word that White House spokesman Ari Fleischer is referring to what they're calling the final phase in the standoff with Iraq, what they -- during the final phase -- this is a quote from Ari Fleischer -- "what is about to unfold is a diplomatic window in which Mr. Bush and the United States would intensify consultations with European allies and the United Nations." That is a quote from Ari Fleischer, and we're getting that report from the Reuters news service.
With more about the State of the Union address that millions of Americans watched last night and reaction to that, let's go to Suzanne Malveaux at the White House -- Suzanne, good morning.

SUZANNE MALVEAUX, CNN WHITE HOUSE CORRESPONDENT: Good morning, Daryn. President Bush is taking his agenda on the road. As you mentioned, he is in Grand Rapids, Michigan. That's where he's trying to sell his package to the American people. He's really focusing on the domestic issues there, the need to strengthen the economy and create jobs.

He is pushing for the economic stimulus package -- that is the $674 billion plan made up of tax cuts as well as incentives for small businesses. He is also pushing forward for $400 billion to overhaul Medicare, including providing a prescription drug coverage for elderly, and he also wants to put a cap on medical liability rewards.

Last night, President Bush outlining his domestic agenda, as well as the international priorities in his State of the Union address, and with the projected budget deficit of more than $300 billion, a sluggish economy, and some critics claiming that he's trying to privatize Medicare, Democrats seizing on this saying they believe the president is not doing enough -- not paying enough attention to domestic issues, but the White House reassuring Americans that yes, the president also has his eye on the money.

(BEGIN VIDEO CLIP)

GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES: After recession, terrorist attacks, corporate scandals, and stock market declines, our economy is recovering. Yet, it's not growing fast enough or strongly enough. With unemployment rising, our nation needs more small businesses to open, more companies to invest and expand, more employers to put up a sign that says help wanted.

(END VIDEO CLIP) MALVEAUX: Now Daryn, the administration, of course, very much aware that this is on Americans' minds, their concerns about jobs, the economy. It's also going to be, of course, a very big issue for Election 2004, and as people know, they realize investors and businesses really stagnating, not taking risks at all because they don't know the answer to the critical question whether or not the United States is going to go to war with Iraq.

That is something -- another reason why the administration realizes that it needs to deal with Saddam Hussein sooner as opposed to later, that there's a sense of urgency in that as well, that the two are very much tied -- Daryn.

KAGAN: Suzanne Malveaux at the White House. Suzanne, thank you.

TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com