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The Economy The War In Iraq Pet Projects SPEECH SYNOPSIS

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The Tampa Tribune

Published: January 29, 2008

Urging quick approval of a $150 billion stimulus plan, Bush said an infusion of consumer spending is needed to stave off a recession. Although House leaders have approved the plan, Senate Democrats are expanding it to include money for Social Security recipients and an extension of unemployment benefits. Bush warned this "would delay or derail it, and neither option is acceptable."

The buildup of 30,000 U.S. troops and an increase in Iraqi forces "have achieved results few of us could have imagined just one year ago," Bush said. "Al-Qaida is on the run in Iraq, and this enemy will be defeated." He made no commitment to withdraw more troops than planned. There are 158,000 troops now, expected to drop to 135,000 by July.

Bush said he will use veto and administrative powers to rein in "earmarks," the favorite projects inserted by lawmakers into spending bills and totaling roughly $17 billion in the last budget. He warned he would veto any spending bill that does not cut in half the earmarks from the year before. He said he will require agencies to ignore earmarks not included in the language of legislation.

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