(July 31, 2008)—President Bush is declaring progress in the Iraq war, saying terrorists "are on the run" and that further troop reductions should be coming.

Bush also announced that effective Friday, the duration of troop tours in Iraq will be cut from 15 months to 12 months. He says it'll lift some of the burden put on the troops, and "make life easier" for military families.

Thursday's announcement will affect members of the Fourth Infantry Division, which deployed late last year over a course of several weeks.

Bush went on to caution that some of the progress being made in Iraq could still be reversed.

Thursday was the deadline the administration and Iraqi leaders had set for themselves to reach a deal for when the U.N. mandate runs out in December. Bush says work is continuing toward a strategic framework agreement with the Iraqi government.

Still, the toughest decisions concerning that will likely fall to the next president.