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Bush to Convene Economic Forum

Aired July 26, 2002 - 14:36   ET

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

KYRA PHILLIPS, CNN ANCHOR: We are going to turn to Washington now where the White House took a new step to boost consumer confidence.
CNN's Kelly Wallace is live from the White House with more -- Kelly.

KELLY WALLACE, CNN WHITE HOUSE CORRESPONDENT: Well, Kyra, the new step the White House announcing that President Bush will convene what the administration is calling an economic forum. That will take place next month, August 13, in Waco, Texas. It comes just a short time after President Bush begins his month-long vacation at his ranch in Crawford. Aides are telling us the goal, bringing together workers, investors, business leaders, and policy makers to talk about the economy, to talk about the fundamentals of the economy, and also to talk about corporate responsibility, and ways to protect people's pensions and 401(K)s.

Kyra, the goal here, having the president continue to talk about the economy to try to boost consumer confidence. Aides don't want to admit this, but there is also a political component here, Kyra. The president is very much trying to help Republicans on this issue, preventing Democrats from using the economic issue against Republicans in the November election -- Kyra.

PHILLIPS: Kelly, another issue. This department for homeland security. What's the problem with the president and Congress? They are at odds.

WALLACE: They are at odds. It is really the president and Senate Democrats at odds. The president wants to have more flexibility, wants the agency to be able to hire and fire, and transfer employees around. Yesterday, the White House announcing that the president could veto the version of the bill that was passed by Senator Joe Lieberman's committee. And you see Senator Lieberman in the audience. He was at the White House for a homeland security event. The president kind of trying to put some pressure on Senator Lieberman and other Senate Democrats. The president saying the version of their bill is not one he could sign, so the president hoping the Senate will make some changes. The House is expected to vote on the bill today, and give the president what he has wanted. Aides are hoping they can work differences and get the bill to the president's desk by the September 11 -- anniversary of the September 11 attacks -- Kyra.

PHILLIPS: Kelly Wallace, live at the White House. Thanks, Kelly. TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com