I Hope This Is True

I'll believe it when I see it.

WASHINGTON, Jan 24 (Reuters) - The Bush administration was committed to cutting huge U.S. budget and trade deficits, U.S. Treasury Secretary John Snow said on Monday, and there should be no delay in overhauling Social Security.

However, Snow, appearing on CNBC television, declined to say whether Federal Reserve Chairman Alan Greenspan is pressing the Bush administration for swifter action to ratchet down deficits.

"I won't get into our discussions with Chairman Greenspan, that wouldn't be appropriate," Snow said. "But I will say that this administration is deeply committed to fiscal responsibility, to controlling spending and to bringing the deficit down."