Transition of Power: Bush to Gauge U.S. Economic Health, Meet With Business Executives
CAROL LIN, CNN ANCHOR: As Congress prepares to get down to business, President-elect George W. Bush is busy on his agenda. Today and tomorrow, he's focusing on the economy. So let's get details on that from CNN national correspondent Tony Hill -- actually it's Tony Clark in Austin, Texas. Good morning, Tony.</s>TONY CLARK, CNN NATIONAL CORRESPONDENT: Good morning, Carol. President-elect Bush says he is worried about the prospect of an economic slowdown just as he's ready to take office in the White House. So he has invited business executives to come here to Austin to give their prognosis of the economy and their solutions. He's invited business executives from all over the country.</s>CLARK (voice-over): With Christmas retail sales off, and the economic indicators showing a slowdown, George W. Bush's first major challenge as president may be trying to keep the economy strong.</s>BUSH: This is an administration that certainly hopes the economy remains strong. It'll make our job a heck of a lot easier. But ours is going to be an administration that anticipates any potential problem.</s>CLARK: To get a better read on the economy and what needs to be done to stave off a recession, Mr. Bush is bringing business leaders from around the country.</s>ARI FLEISCHER, BUSH PRESS SECRETARY: They're the people who are best versed at telling the American people and the president-elect, how strong is the economy? How serious are the problems of potential weakening?</s>CLARK: People from major conglomerates, like Jack Welch from General Electric; people who have their finger on the pulse of consumers, like Kenneth Langone from Home Depot; from the high-tech industry, people like Michael Dell, founder of Dell Computers; and flat tax proponent and former Republican presidential hopeful Steve Forbes. For the president-elect, it is a chance to hear a wide range of views.</s>FLEISCHER: I think he'll go into this meeting with an open mind. He wants to listen to people. And if people have any ideas of anything short term, he'll listen.</s>CLARK: Yet Mr. Bush has already made clear what he believes the cornerstone of American economic policy should be. First, during the campaign:</s>BUSH: It's conservative to cut taxes. It's compassionate to give people their own money so you can save and you can dream and you can build for your children's future.</s>CLARK: And later in his acceptance speech as president-elect.</s>BUSH: Together we will give Americans the broad, fair and fiscally responsible tax relief they deserve.</s>CLARK: Now, if anything, the president-elect says he feels stronger about the need for a tax cut than ever.</s>BUSH: I believe that a tax relief package, if properly structured -- and I'm confident ours is properly structured -- will encourage economic growth and vitality and more job creation.</s>CLARK: Bush's two-day conference at an Austin hotel will be private. Aides say he wants participants to feel free to speak their mind.</s>CLARK: While there will be business executives from all over the country presenting their views here, two key players for the economy from the proposed Bush administration will not be here. Treasury Secretary-designee Paul O'Neil and Commerce Secretary-designee Don Evans will be on Capitol Hill preparing for those confirmation hearings that Kate Snow was just talking about. Tony Clark, CNN, Austin.</s>LIN: Thank you, Tony.