The president says the economy is on the mend, while his critics say Tuesday's economic forum in Waco is nothing more than talk. President Bush told participants at the forum he is putting a stop to government overspending. The president says he will not spend four billion dollars in emergency funds set aside by Congress. He says most of the cash is not needed.
"We're not going to spend four billion dollars we don't need in order to unlock one billion we do," said President Bush.
Meanwhile, Democrats say the forum is nothing more than political grandstanding in preparation for the November elections. President Bush also discussed the high cost of medical malpractice lawsuits and the recent corporate scandals.
Fort Worth based American Airlines says its cutting 7,000 employees by next March. The company announced the cutbacks as part of a way to get the company back on track after September 11th. Airline officials say they hope to make the cuts creatively, and minimize the number of actual layoffs.
"We're hoping we can mitigate a lot of this through attrition, retirement, those voluntary programs, leaves, and other programs we've put in place to try to take some of the pain out of that we're gonna have to change our business and this is gonna require fewer people to run American Airlines in the future," said American Airlines Spokesman, Tim Doke. The company has not announced yet which jobs will be cut.
A series of recent burglaries is plaguing an Austin Barbecue, but it is not the money the burglars are stealing. Police say someone has stolen more than $2,000 worth of meat and sides from John Mueller's Barbecue in East Austin. To crack down on the barbecue bandits the owners are installing a security system complete with cameras and alarms. Austin Police are investigating the burglaries.