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CNN Live Saturday
Bush Focuses on Economy
Aired April 26, 2003 - 17:07 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.
ANDERSON COOPER, CNN ANCHOR: Iraq seemed to be the only topic for a while at the White House, but President Bush is now focusing on the economy. Mr. Bush used his weekly radio address today to tout his tax cut plan. But a new poll that shows the country is deeply split on the proposal. CNN's Chris Burns explains.
(BEGIN VIDEOTAPE)
CHRIS BURNS, CNN CORRESPONDENT (voice-over): Wrapping up a domestic version of shock and awe, President Bush now aims to push his tax cut bill through Congress. Part of a nationwide blitz, Mr. Bush is riding his lofty poll ratings from the Iraq war as he battles Democrats and moderate Republicans over a tax plan intended as an economic shot in the arm.
To avoid the regime change, his father, President Bush, suffered when he won the Gulf War, but lost to Bill Clinton on the economy. In his weekend radio address, the president called on Congress to approve the package originally set at $726 billion in tax cuts over 10 years. The House proposes $550 billion, and the Senate $350 billion.
GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES: Some members of Congress support tax relief, but say my proposal is too big. Since they already agreed that tax relief creates jobs, it doesn't make sense to provide less tax relief and therefore create fewer jobs.
BURNS: But a new "CNN/USA Today" Gallup poll indicates the country is deeply split on the Bush plan. Critics worry the tax cut will further swell a budget deficit already bloated by war, and they say scrapping dividend taxes will mainly benefit the rich.
REP. STEPHANIE TUBBS JONES (D), OHIO: They can dress up this tax cut any way they want and it's still just that, a tax cut for the wealthiest 1 percent of Americans that does nothing to create jobs and will only sink our nation further into debt.
BURNS: In the coming week, the president will also take the time to join homecoming celebrations for troops returning from the Gulf. Many ask when he will declare the war over?
(END VIDEOTAPE)
BURNS: Well, the Bush administration remains reluctant to declare out-and-out victory in Gulf War II. They still want to hear from General Tommy Franks, the head of the Central Command, and the other commanders on the ground, as to whether the conflict is officially over. At last word we just heard moments ago from the White House officials saying that as soon as this week President Bush will summarize where we are in the operation, that not being very clear, but it's raising speculations, perhaps Bush could declare an end to the conflict and the official full beginning of Iraq's reconstruction -- Anderson.
COOPER: Now, Chris, on a personal note, I understand you are on your way to buy a tuxedo to tonight's correspondent's dinner.
BURNS: Well, actually I'm looking for a tie. I'll be looking for that tonight. Could be very interesting, could be a lot of fun, a lot of Hollywood glitterati, a lot of Washington literati. Last year there was Ozzy Osbourne, Secretary Colin Powell and Drew Carey. We saw Drew Carey walking around here earlier today so he might show up this time as well.
COOPER: Wait a minute; Drew Carey is just wandering around the White House? That's sort of a frightening...
BURNS: Well -- closely watched.
COOPER: Yes, I would hope so. All right. Chris Burns, enjoy tonight. Thanks for the report, I appreciate it.
BURNS: 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 April 26, 2003 - 17:07 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
ANDERSON COOPER, CNN ANCHOR: Iraq seemed to be the only topic for a while at the White House, but President Bush is now focusing on the economy. Mr. Bush used his weekly radio address today to tout his tax cut plan. But a new poll that shows the country is deeply split on the proposal. CNN's Chris Burns explains.
(BEGIN VIDEOTAPE)
CHRIS BURNS, CNN CORRESPONDENT (voice-over): Wrapping up a domestic version of shock and awe, President Bush now aims to push his tax cut bill through Congress. Part of a nationwide blitz, Mr. Bush is riding his lofty poll ratings from the Iraq war as he battles Democrats and moderate Republicans over a tax plan intended as an economic shot in the arm.
To avoid the regime change, his father, President Bush, suffered when he won the Gulf War, but lost to Bill Clinton on the economy. In his weekend radio address, the president called on Congress to approve the package originally set at $726 billion in tax cuts over 10 years. The House proposes $550 billion, and the Senate $350 billion.
GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES: Some members of Congress support tax relief, but say my proposal is too big. Since they already agreed that tax relief creates jobs, it doesn't make sense to provide less tax relief and therefore create fewer jobs.
BURNS: But a new "CNN/USA Today" Gallup poll indicates the country is deeply split on the Bush plan. Critics worry the tax cut will further swell a budget deficit already bloated by war, and they say scrapping dividend taxes will mainly benefit the rich.
REP. STEPHANIE TUBBS JONES (D), OHIO: They can dress up this tax cut any way they want and it's still just that, a tax cut for the wealthiest 1 percent of Americans that does nothing to create jobs and will only sink our nation further into debt.
BURNS: In the coming week, the president will also take the time to join homecoming celebrations for troops returning from the Gulf. Many ask when he will declare the war over?
(END VIDEOTAPE)
BURNS: Well, the Bush administration remains reluctant to declare out-and-out victory in Gulf War II. They still want to hear from General Tommy Franks, the head of the Central Command, and the other commanders on the ground, as to whether the conflict is officially over. At last word we just heard moments ago from the White House officials saying that as soon as this week President Bush will summarize where we are in the operation, that not being very clear, but it's raising speculations, perhaps Bush could declare an end to the conflict and the official full beginning of Iraq's reconstruction -- Anderson.
COOPER: Now, Chris, on a personal note, I understand you are on your way to buy a tuxedo to tonight's correspondent's dinner.
BURNS: Well, actually I'm looking for a tie. I'll be looking for that tonight. Could be very interesting, could be a lot of fun, a lot of Hollywood glitterati, a lot of Washington literati. Last year there was Ozzy Osbourne, Secretary Colin Powell and Drew Carey. We saw Drew Carey walking around here earlier today so he might show up this time as well.
COOPER: Wait a minute; Drew Carey is just wandering around the White House? That's sort of a frightening...
BURNS: Well -- closely watched.
COOPER: Yes, I would hope so. All right. Chris Burns, enjoy tonight. Thanks for the report, I appreciate it.
BURNS: 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
