WASHINGTON, Jan 24 (Reuters) – The Bush administration was committed to cutting huge U.S. budget and trade deficits, U.S. Treasury Secretary John Snow said on Monday, and there should be no delay in overhauling Social Security.

However, Snow, appearing on CNBC television, declined to say whether Federal Reserve Chairman Alan Greenspan is pressing the Bush administration for swifter action to ratchet down deficits.

“I won’t get into our discussions with Chairman Greenspan, that wouldn’t be appropriate,” Snow said. “But I will say that this administration is deeply committed to fiscal responsibility, to controlling spending and to bringing the deficit down.”
Full Article: netscape.cnn.com

Bush to Seek About $80 Bln for Military Operations
WASHINGTON (Reuters) – The Bush administration plans to announce as early as Tuesday that it will seek about $80 billion in new funding for military operations this year in Iraq and Afghanistan, administration and congressional sources said on Monday.

The new supplemental budget request would come on top of the $25 billion in emergency spending already approved for the current fiscal year, and will push total 2005 funding for military operations and equipment close to a record $105 billion, the sources said on Monday.

Up to $650 million is expected to be included in the package to fund humanitarian aid, reconstruction efforts and military operations in Asian countries devastated by last month’s tsunami, congressional aides said.
reuters.com

This entry was posted on Monday, January 24th, 2005 at 6:45 pm and is filed under General. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.