Interview: Bush Bullish on Economy

W A S H I N G T O N, March 13 -- President Bush today kept the door open to a compromise on tax cuts and predicted a booming economic rebound.

With stock market anxiety bolstering critics who contend projected budget surpluses may never materialize to finance his $1.6 trillion tax cuts amid the economic downturn, Bush bullishly forecast a recovery — and a government that will remain "awash with money again at the federal level."

"I would make this prediction," Bush said, "not only will this economy recover, but the amount of money coming into the Treasury ... is going to exceed that which is expected."

Bush's comments came in a roundtable discussion with reporters from several newspapers and ABCNEWS.com, marking the new president's first interview with an online news organization.

Defending his budget, Bush said the tax cut package — which he now bills as an "economic recovery plan" — was written based on "very pessimistic" surplus estimates that factored in the possibility of a slowdown.

The budget debate on Capitol Hill is turning to "triggers," budget mechanisms that would kill Bush's tax cut if surpluses evaporate. Asked whether he would reject triggers outright, Bush signaled at least a willingness to consider them: "It depends on what they are."

Limits in Colombia

In the wide-ranging interview, Bush made some of his most extensive comments on foreign policy since taking office. He pledged to pursue a strategy that maintains stability in the world with as little use of U.S. troops as possible.

Bush vowed U.S. involvement in Colombia — the war-torn South American nation where the U.S. has spent $1.3 billion on helicopters, weapons, military trainers and drug control — "is going to be limited."

"It's not going to be military," Bush said, amid concern that creeping U.S. involvement could make Colombia the next Vietnam if burgeoning peace talks break down. "We'll train, we'll use military trainers, and that's the extent of U.S. involvement in Colombia."