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CNN Live Saturday
Eye on the President
Aired January 31, 2004 - 12:30 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.
FREDRICKA WHITFIELD, CNN ANCHOR: Keeping an eye on the president, Mr. Bush joins GOP lawmakers in their Philadelphia retreat today. Some of those lawmakers and the president find themselves at odds over federal spending two days before his new budget proposal is submitted.
CNN White House correspondent Suzanne Malveaux is in Washington with the details at the White House -- Suzanne.
SUZANNE MALVEAUX, CNN WHITE HOUSE CORRESPONDENT: Well, Fred, President Bush is in Philadelphia. As you had mentioned, he is with the party faithful really trying to rally the troops here.
He is preparing to present the new budget to congress on Monday. There's been so far a lot of criticism before he's even formally unveiled it from Democrats who say that the expense with the war on terror really is robbing domestic programs of much needed resources.
And then there are the fiscally conservative Republicans who are looking at this record breaking federal deficit, $520 billion and saying that this administration is simply overspending.
But President Bush today is defending the economic policy. He believes that the country is on the right track and he says there are signals that the economy is improving, and he is rallying republicans to stand by him.
(BEGIN VIDEO CLIP)
GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES: The economy doesn't work by growing government. The economy works by growing peoples' wallet to spend, save or invest. The tax cuts we passed are working. I look forward to taking the case to the American people and explaining as clearly as I possibly can. This Congress heard the needs of the people looking for jobs. It responded. The tax cuts are working. And now, we need to make them permanent.
(END VIDEO CLIP)
MALVEAUX: So President Bush is emphasizing his policy. He wants to make those tax cuts permanent. Fred, it's a big question whether or not that is actually going to happen in light of a lot of the questions over the administration's spending. But he also says as well that defense spending is going to be increased as well as homeland security about 11 percent, but that the real point here is that Congress in discretionary spending is going to stay about 1 percent increase and he is holding Congress responsible for really trying to keep down those expenditures.
He believes that, yes, tax cuts should be -- should remain permanent, they should be made permanent and he is not been dissuaded -- Fred.
WHITFIELD: All right. Suzanne Malveaux at the White House, 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 31, 2004 - 12:30 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
FREDRICKA WHITFIELD, CNN ANCHOR: Keeping an eye on the president, Mr. Bush joins GOP lawmakers in their Philadelphia retreat today. Some of those lawmakers and the president find themselves at odds over federal spending two days before his new budget proposal is submitted.
CNN White House correspondent Suzanne Malveaux is in Washington with the details at the White House -- Suzanne.
SUZANNE MALVEAUX, CNN WHITE HOUSE CORRESPONDENT: Well, Fred, President Bush is in Philadelphia. As you had mentioned, he is with the party faithful really trying to rally the troops here.
He is preparing to present the new budget to congress on Monday. There's been so far a lot of criticism before he's even formally unveiled it from Democrats who say that the expense with the war on terror really is robbing domestic programs of much needed resources.
And then there are the fiscally conservative Republicans who are looking at this record breaking federal deficit, $520 billion and saying that this administration is simply overspending.
But President Bush today is defending the economic policy. He believes that the country is on the right track and he says there are signals that the economy is improving, and he is rallying republicans to stand by him.
(BEGIN VIDEO CLIP)
GEORGE W. BUSH, PRESIDENT OF THE UNITED STATES: The economy doesn't work by growing government. The economy works by growing peoples' wallet to spend, save or invest. The tax cuts we passed are working. I look forward to taking the case to the American people and explaining as clearly as I possibly can. This Congress heard the needs of the people looking for jobs. It responded. The tax cuts are working. And now, we need to make them permanent.
(END VIDEO CLIP)
MALVEAUX: So President Bush is emphasizing his policy. He wants to make those tax cuts permanent. Fred, it's a big question whether or not that is actually going to happen in light of a lot of the questions over the administration's spending. But he also says as well that defense spending is going to be increased as well as homeland security about 11 percent, but that the real point here is that Congress in discretionary spending is going to stay about 1 percent increase and he is holding Congress responsible for really trying to keep down those expenditures.
He believes that, yes, tax cuts should be -- should remain permanent, they should be made permanent and he is not been dissuaded -- Fred.
WHITFIELD: All right. Suzanne Malveaux at the White House, 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
