Bush Rules Out Tax Hike to Fund Recovery

WASHINGTON -- President Bush said Friday the federal government must slash unnecessary spending to pay for Gulf Coast reconstruction, but he ruled out raising taxes, The Associated Press reported.

''You bet it will cost money, but I'm confident we can handle it,'' Bush said.

Bush spoke at a news conference with Russian President Vladimir Putin hours after attending a prayer service in memory of the victims of Hurricane Katrina.

''It's going to cost whatever it's going to cost, and we're going to be wise about the money we spend,'' Bush said a day after laying out an expensive plan for rebuilding New Orleans and the Gulf Coast without spelling out how he would pay for it.

-- NYSSCPA.org News Staff

Posted on 9/16/05