Return to Transcripts main page

CNN Sunday Morning

Bush's Economic Team Fans Out on Sunday Talk Shows

Aired July 28, 2002 - 09:23   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.
THOMAS ROBERTS, CNN ANCHOR: The economy is very much the theme this morning for the Bush administration. The president's economic team is taking to the morning talk shows after criticism earlier in the week. CNN White House correspondent Kelly Wallace joins us now live with more on that. Hi, Kelly.

KELLY WALLACE, CNN WHITE HOUSE CORRESPONDENT: Hello, Thomas. Well, President Bush brushes off that criticism of his economic team, calling it the typical Washington blame game, but still, he and his aides are taking steps. The advisers on the Sunday interview programs talking about how they believe the economy is strong. In fact, Treasury Secretary Paul O'Neill in an interview program a short time ago, he says the economy growing at a very good rate; productivity is high. But he said it's very hard to get air time to talk about what's good with the economy, because so much of the focus has been on what is going on in the markets.

Now, we are seeing the president and his aides, they are expected to travel throughout the country during the month of August to talk about the economy. Mr. Bush, in fact, spending a rare weekend at the White House. He started out this day attending church, not too far from the White House. We will see him and his advisers really traveling throughout the country, trying to boost consumer confidence.

Something else we are seeing the president do, what we saw him do on the golf course yesterday, connecting many issues to the economy. The president yesterday hailing passage in the House of Representatives of a measure that will give him the authority to negotiate trade deals without Congress being able to amend them down the road. The president saying this will be good for the economy and good for American workers.

There is something else this White House is doing: Calling attention to the arrest of any corporate CEOs engaged in wrongdoing. That is something we saw this White House do this week with the arrest of executives at Adelphia Communications. But at the same time, the message from this White House, Commerce Secretary Don Evans saying on CNN's "NOVAK, HUNT & SHIELDS" is that all CEOs are not corrupt. Here's Mr. Evans.

(BEGIN VIDEO CLIP)

DON EVANS, COMMERCE SECRETARY: There have been some very disgusting scandals that have been revealed in the last several months that have hurt the character of America. And the focus on which this goes to the CEO, because he is the one responsible for that organization. And so, there are a few that have really hurt the character of America and hurt and tainted the reputation of thousands of good CEOs all across this land.

(END VIDEO CLIP)

WALLACE: In another effort to boost consumer confidence, President Bush will convene what the White House calling "an economic forum." That will take place August 13 in Waco, Texas, just a short time after President Bush begins a month-long vacation at his Crawford ranch.

Thomas, I'm told the goal is bringing together policy makers and workers and investors. Another goal with all of this that the administration is doing: Trying to help Republicans in the November congressional elections -- Thomas.

ROBERTS: And Kelly, as you mentioned, August 13. The day after that, August 14, the day after that, correct me if I'm wrong, that's the day that the CEOs are supposed to sign forms saying that our companies and our books are good, right?

WALLACE: Very key point. Some -- almost 1,000 companies will have to say on that day that their earnings reports are correct, or make adjustments that they can stand by. White House was asked if the timing is connected, if the White House is trying to get out in front of what could be some bad news that could send some ripples throughout the market. Aides say no, there is no connection there, but clearly the president getting out on the 13th and those SEC reports coming out the next day, Thomas.

ROBERTS: We'll see how everything goes tomorrow. You know, we are coming off an up week from Friday, so it could be a good Monday tomorrow. You never know.

WALLACE: You never know.

ROBERTS: Kelly Wallace, live for us at the White House. Kelly, good to see you, thanks very much.

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