Saturday, October 19, 2002

Molly Ivins says that you should look for the photo op to see what Bush is planning to cut next.

WASHINGTON, Oct. 18 — Less than three months ago, President Bush signed with great fanfare sweeping corporate antifraud legislation that called for a huge increase in the budget of the Securities and Exchange Commission to police corporate America and clean up Wall Street.

Now the White House is backing off the budget provision and urging Congress to provide the agency with 27 percent less money than the new law authorized.

Administration officials say their proposed increase is enough and that other budgetary needs, like the military and security against terrorism, make it impossible to
afford more.