Deficit cuts vital for U.S. economy says Snow

US Treasury Secretary John Snow said on Wednesday 15 Decemberthat cutting the twin deficits, blamed for weakening the dollar, would be a top priority in president Bush's second term.

"The deficit is clearly going to be the centerpiece issue for the second term, it's the linchpin of the second-term economic policy," Snow told a group of invited reporters at the end of the first day of a two-day economic conference.

In response to questions, Snow noted that President George W. Bush had reaffirme