Bush Says Spending Cuts Will Be Needed

Bush Says Spending Cuts Will Be Needed: "One day after pledging to undertake one of history's largest reconstruction efforts, President Bush served notice yesterday that rebuilding the hurricane-ravaged Gulf Coast will require spending cuts elsewhere in the federal budget.

Amid growing concern among congressional Republicans about the huge cost of the planned reconstruction effort, Bush said the federal government can foot the bill without resorting to a tax increase. 'You bet it's going to cost money. But I'm confident we can handle it,' Bush said. 'It's going to mean that we're going to have to cut unnecessary spending.'"