money from other countries to finance Iraq, Afghanistan, Katrina, and our tax cuts.

I am worried that it seems inconsistent and unsustainable for the president to be asking for large tax cuts before we know what our continuing obligations are. I would like to see us take a deep breath, deal with Iraq....I don't believe that we really fully appreciate the cost that we may be embarking upon,

It's the combination of massive tax cuts combined with massive spending on Iraq and Katrina when we already weren't able to pay our bills,

We expect there will be tax cuts for individuals and across the board. The minister [of finance] has been blessed with a revenue service that's keen to do its job. But can government spend the money effectively? That's got to be the focus.

Many of you are well enough off that the tax cuts may have helped you. We're saying that for America to get back on track, we're probably going to cut that short and not give it to you. We're going to take things away from you on behalf of the common good.

If consumer confidence holds steady, and consumers spend the money from tax cuts, and once business see a clear sign of a rebound in sales, then around September or October, they're going to budget and change their targets for capital spending. Then, it takes a couple of months to hire people and get set up.