US Treasury Secretary John Snow said on Sunday that despite disappointing job growth last month the economy is on an upswing that will lead to increased employment.
"I'm confident that this recovery will translate into job creation," Snow said as he also reaffirmed the administration's commitment to cut in half in five years the record federal deficit, which has drawn fire from a number of economic groups.
Snow said the federal budget that President George W. Bush will soon propose will reflect the administration's vow to reduce the deficit, largely by slowing the growth in spending.
"This is an administration committed to fiscal responsibility," Snow told ABC's "This Week."
"This budget that comes forward will be one that advances the priorities of the country but within a fiscally responsible framework," Snow said.
The treasury secretary said, "We are in a good recovery" that will lead to job growth as well as added revenue, which will also help shrink the deficit.
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