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�SPEECH BY PRESIDENT CLINTON
TO CALIFORNIA ECONOMIC SUMMIT
February 16, 1993
Thanks f o r the o p p o r t u n i t y t o t a l k t o you, even i f by
s a t e l l i t e . I would love t o be able t o v i s i t w i t h you i n person.
But as you know, I have been working harder than I've ever worked
before t o c r a f t an economic plan t h a t w i l l r e s t o r e our economy
and renew our n a t i o n .
I t i s indeed f i t t i n g t h a t you would gather together a t t h i s
time, i n a forum which as you know I have considered t o be
extremely productive. Your summit, l i k e the economic r e t r e a t we
had i n L i t t l e Rock, represents the best way t o solve problems.
Not i n i s o l a t i o n , not hunched over a c a l c u l a t o r o r a word
processor, but w i t h people from many walks o f l i f e working as
partners t o face t h i s most pressing n a t i o n a l challenge.
Throughout American h i s t o r y , business has answered the c a l l
when the nation's s u r v i v a l was a t stake. C a l i f o r n i a ' s p r o s p e r i t y
was b u i l t , i n l a r g e p a r t , on the m o b i l i z a t i o n t h a t saved America
i n World War I I and defeated Communism since.
Today, we face a c r i s i s t h a t , w h i l e q u i e t e r , threatens our
n a t i o n a l greatness as profoundly as any c r i s i s we have faced
before. Very simply, we r i s k l o s i n g permanently the standard o f
l i v i n g t h a t we took f o r granted as Americans. For too many
middle class Americans, the good l i f e seems t o be disappearing,
replaced by stagnation and d i v i s i o n .
Our s i t u a t i o n i s worse than we had imagined. Even though i t
i s s a i d t h a t we are i n a recovery and the o v e r a l l economic
i n d i c a t o r s are q u i t e impressive, the j o b c r e a t i o n t h a t normally
accompanies a recovery i s not i n evidence.
You know t h a t a l l too w e l l . The r e a l estate i n d u s t r y
continues t o d e c l i n e i n p a r t s o f C a l i f o r n i a , the defense sector
faces wrenching changes w i t h the end o f the Cold War, and the
f i n a n c i a l sector i s s t i l l on the mend. We cannot proclaim t h a t
the U.S. economy has recovered u n t i l the C a l i f o r n i a economy has
recovered. C a l i f o r n i a must lead the way, not be l e f t behind.
I f we do not reform our economy, we w i l l f a l l f u r t h e r and
f u r t h e r behind. I f we do not act today, ten years from now we
w i l l not recognize t h i s country. Ten years from now, the d e f i c i t
w i l l have grown t o $653 b i l l i o n a year; the n a t i o n a l debt w i l l be
78 percent o f our gross domestic product; h e a l t h care costs w i l l
take up nearly 20 percent o f the GDP; Medicare and Medicaid costs
will triple.
Dramatic change i s necessary — not f o r change's sake, b u t
to r e s t o r e economic growth t h a t produces jobs. The p r i c e o f
business as usual i s f a r higher than the p r i c e o f change. I came
to Washington t o ensure t h a t we w i l l continue t o compete and win
�i n t h i s new world and move forward t o enhance incomes, expand
p r o d u c t i v i t y and educate our c h i l d r e n .
Tomorrow n i g h t , I w i l l propose an economic package t h a t w i l l
attempt t o p u t t h i s n a t i o n back on the road t o long-term,
sustainable growth.
The broad o u t l i n e s o f our plan are no secret.
F i r s t , t o ensure t h a t we do not lose the momentum and new
confidence t h a t we have seen, and t o f i n a l l y get sustainable j o b
growth, we need an investment-led jobs package.
But a l l o f us here know our problems go beyond the business
cycle. We need a long-term plan t o i n v e s t i n America.
We w i l l p u t i n place a program t o i n v e s t i n our people and
in the physical infrastructure that i s a precondition f o r
p r o s p e r i t y and p r o d u c t i v i t y .
That w i l l include a s i g n i f i c a n t commitment t o environmental
i n f r a s t r u c t u r e , such as clean water treatment p l a n t s , and
improvements i n t r a n s p o r t a t i o n such as mass t r a n s i t and high
speed r a i l .
My plan w i l l give business t h e climate i t needs t o grow.
The elements are very s t r a i g h t f o r w a r d : We w i l l i n v e s t i n people
and guarantee t h e best t r a i n e d workforce i n the world, lower t h e
cost o f c a p i t a l through long-term reductions i n the d e f i c i t , and
b r i n g h e a l t h care costs under c o n t r o l .
We w i l l also do something the governments o f our competitors
do w i t h o u t apology — we w i l l forge a pragmatic p a r t n e r s h i p w i t h
the p r i v a t e sector t o strengthen America's t e c h n o l o g i c a l
leadership. Many C a l i f o r n i a business and high-tech leaders
played a p i v o t a l r o l e i n the d r a f t i n g o f our technology plan.
F i n a l l y , we w i l l reduce our d e f i c i t , not as an end i n i t s e l f
but as a means t o achieve higher incomes and jobs f o r our people.
This w i l l r e q u i r e tough choices from every American. But
before I t u r n t o the middle class f o r help, I w i l l t u r n t o those
who d i d so w e l l i n the past decade. I have already announced
t h a t my plan w i l l include higher rates on wealthy i n d i v i d u a l s and
corporations.
I want t o t e l l you about two other changes t h a t I t h i n k w i l l
help make t h e 1990s more productive than t h e 1980s.
The t a x code should create i n c e n t i v e s f o r productive
investment, not f o r l a v i s h l i v i n g . A c o n s t r u c t i o n worker who
brings a sandwich t o lunch shouldn't be forced t o subsidize h i s
boss's meal of mesquite g r i l l e d goat cheese w i t h a glass of
b e a u j o l a i s nouveau. My plan reduces t o f i f t y percent t h e t a x
�deduction for business entertaining. This w i l l bring i n nearly
$4 b i l l i o n dollars per year ($12 b over next 3 y r s ? ? ) . And i t
would s t i l l allow businesspeople to deduct half t h e i r
entertaining expenses. C a l l i t the one-and-a-half martini lunch.
And we a l l know that another reason the economy has
sputtered i s that the p o l i t i c a l system i s clogged with special
interests. I n Washington, D.C, right now, there are about
80,000 people who work d i r e c t l y or i n d i r e c t l y as lobbyists.
These aren't bad people. But i t ' s a system that i s bad for our
economy and our democracy, s t i f l i n g the voice of the people and
blocking needed change.
The era of the lobbyists must end. Today, when a middle
c l a s s family sends a l e t t e r to Congress, they can't deduct the
cost of the stamp. But powerful interests can deduct the million
dollar fees they pay to f l e e t s of lobbyists. Let's take away the
tax deduction that l e t s powerful interests deduct t h e i r expenses
for fees paid to lobbyists. And I think i t might make sense to
use some of that money to help clean up our p o l i t i c a l system.
I ask every American honestly to look i n the mirror and say:
- what do I want t h i s country to look l i k e i n four years;
- what do I want t h i s country to look l i k e i n 10 years;
- what do I want t h i s country to look l i k e when my children
are my age;
- do I r e a l l y want to l e t another year go by when we are on
economic auto-pilot, instead of r e a l l y investing i n our
people and our future, instead of r e a l l y having a technology
policy, instead of r e a l l y doing something about the credit
crunch, instead of r e a l l y doing something about health care,
instead of r e a l l y doing something about the d e f i c i t , j u s t
because I wish I didn't have to change my ways.
I think every American w i l l look i n the mirror and say, no,
t h i s year, we'll pull together and do our part.
Thank you very much.
�i
THE WHITE HOUSE
O f f i c e of the Press Secretary
For Immediate Release
January 20, 1993
INAUGURAL ADDRESS
OF
• WILLIAM JEFFERSON CLINTON,
42ND PRESIDENT OF THE UNITED STATES
The U.S. Capitol
Washington, D
C
12:01 P.M. EST
THE PRESIDENT: My f e l l o w c i t i z e n s , today we celebrate
the mystery o f American renewal. This ceremony i s held i n the depth
of w i n t e r , but by the words we speak and the faces we show the world,
we force the spring — a spring reborn i n the world's oldest
democracy t h a t brings f o r t h the v i s i o n and courage t o reinvent
America.
When our Founders b o l d l y declared America's independence
to t h e world and our purposes t o the Almighty, they knew t h a t America
to endure would have t o change; not change f o r change sake, b u t
change t o preserve America's ideals: l i f e , l i b e r t y , the p u r s u i t of
happiness.
Though we marched t o the music of our time, our mission
i s t i m e l e s s . Each generation of Americans must define what i t means
to be an American.
On behalf of our nation, I salute my predecessor,
President Bush, f o r h i s h a l f - c e n t u r y of service t o America.
(Applause.) And I thank the m i l l i o n s of men and women whose
steadfastness and s a c r i f i c e triumphed over depression, fascism and
communism.
Today, a generation raised i n the shadows of the Cold
War assumes new r e s p o n s i b i l i t i e s i n a world warmed by the sunshine of
freedom, but threatened s t i l l by ancient hatreds and new plagues.
Raised i n unrivaled p r o s p e r i t y , we i n h e r i t an economy t h a t i s s t i l l
the world's strongest, but i s weakened by business f a i l u r e s , stagnant
wages, increasing i n e q u a l i t y and deep d i v i s i o n s among our own people.
When George Washington f i r s t took the oath I have j u s t
sworn t o uphold, news t r a v e l e d slowly across the land by horseback
and across the ocean by boat. Now, the sights and sounds of t h i s
ceremony are broadcast instantaneously t o b i l l i o n s around the world.
Communications and commerce are g l o b a l . Investment i s mobil.
Technology i s almost magical. And ambition f o r a b e t t e r l i f e i s now
universal.
We earn our l i v e l i h o o d i n America today i n peaceful
competition w i t h people a l l across the Earth. Profound and powerful
forces are shaking and remaking our world. And the urgent question
of our time i s whether we can make change our f r i e n d and not our
enemy.
This new world has already enriched the l i v e s of
m i l l i o n s of Americans who are able t o compete and win i n i t . But
when most people are working harder f o r less; when others cannot work
at a l l ; when the cost of health care devastate.s families and
threatens t o bankrupt our e n t e r p r i s e s great and small; when the fear
of crime robs law-abiding c i t i z e n s cf t h e i r freedom; and when
o
O
�- 2 -
m i l l i o n s of poor c h i l d r e n cannot even imagine the l i v e s we are
c a l l i n g them t o lead, we have not made change our f r i e n d .
We know we have t o face hard t r u t h s and take strong
steps, but we have not done so; instead, we have d r i f t e d . And that
d r i f t i n g has eroded our resources, f r a c t u r e d our economy and shaken
our confidence. Though our challenges are fearsome, so are our
strengths. Americans have ever been a r e s t l e s s , questing, hopeful
people. And we must b r i n g t o our task today the v i s i o n and w i l l of
those who came before us.
From our Revolution t o the C i v i l War, t o the Great
Depression, t o the C i v i l Rights Movement, our people have always
mustered the determination t o construct from these c r i s e s the p i l l a r s
of our h i s t o r y .
Thomas J e f f e r s o n believed t h a t t o preserve the very
foundations of our nation, we would need dramatic change from time t o
time. Well, my f e l l o w Americans, t h i s i s our time. Let us embrace
it.
(Applause.)
Our democracy must be not only the envy of the world but
the engine of our own renewal. There i s nothing wrong w i t h America
t h a t cannot be cured by what i s r i g h t w i t h America.
(Applause.) And
so today we pledge an end t o the era of deadlock and d r i f t , and a new
season of American renewal has begun. (Applause.)
To renew America we must be bold. We must do what no
generation has had t o do before. We must invest more i n our own
people, i n t h e i r jobs and i n t h e i r f u t u r e , and a t the same time cut
our massive debt. And we must do so i n a world i n which we must
compete f o r every opportunity. I t w i l l not be easy. I t w i l l require
s a c r i f i c e , but i t can be done and done f a i r l y . Not choosing
s a c r i f i c e f o r i t s own sake but f o r our own sake, we must provide f o r
our n a t i o n the way a family provides f o r i t s c h i l d r e n .
Our Founders saw themselves i n the l i g h t of p o s t e r i t y .
We can do no less. Anyone who has ever watched a c h i l d ' s eyes wander
i n t o sleep knows what p o s t e r i t y i s . Posterity i s the world t o come
—
the world f o r whom we hold our ideals; from whom we have borrowed
our p l a n e t ; and t o whom we bear sacred r e s p o n s i b i l i t y .
We must do what America does best: o f f e r more
o p p o r t u n i t y t o a l l and demand more r e s p o n s i b i l i t y from a l l .
(Applause.) I t i s time t o break the bad habit of expecting something
for nothing from our government or from each other. Let us a l l take
more r e s p o n s i b i l i t y not ohly f o r ourselves and our f a m i l i e s but f o r
our communities and our country.
To renew America, we must r e v i t a l i z e our democracy.
This b e a u t i f u l C a p i t o l , l i k e every c a p i t o l since the dawn of
c i v i l i z a t i o n , i s o f t e n a place of i n t r i g u e and c a l c u l a t i o n . Powerful
people maneuver f o r p o s i t i o n and worry endlessly about who i s i n and
who i s out, who i s up and who i s down, f o r g e t t i n g those people whose
t o i l and sweat sends us here and pays our way.
(Applause.)
Americans deserve b e t t e r . And i n t h i s c i t y today there
are people who want t o do b e t t e r . And so I say t o a l l of you here,
l e t us resolve to reform our p o l i t i c s so that power and p r i v i l e g e no
longer shout down the voice of the people. Let us put aside personal
advantage so t h a t we can f e e l the pain and see the promise of
America.
Let us resolve t o make our government a place f o r what
F r a n k l i n Roosevelt c a l l e d bold, p e r s i s t e n t experimentation -- a
government f o r our tomorrows, not our yesterdays. Let us give t h i s
Capitol back t o the people t o whom i t belongs.
(Applause.)
as at home.
To renew America we must meet challenges abroad as well
There i s no longer a clear d i v i s i o n between what i s
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f o r e i g n and what i s domestic.
The world economy, the world
environment, the world AIDS c r i s i s , the world arms race
they
a f f e c t us a l l .
Today, as an o l d order passes, the new world i s more
free but less s t a b l e . Communism's collapse has c a l l e d f o r t h o l d
animosities and new dangers. C l e a r l y , America must continue t o lead
the world we d i d so much to make.
While America rebuilds at home, we w i l l not shrink from
the challenges nor f a i l to seize the opportunities of t h i s new world.
Together with our friends and a l l i e s , we w i l l work to shape change,
l e s t i t engulf us. When our v i t a l interests are challenged or the
w i l l and conscience of the international community i s defied, we w i l l
act — with peaceful diplomacy whenever possible, with force when
necessary.
The brave Americans serving our n a t i o n today i n the
Persian Gulf, i n Somalia, and wherever else they stand are testament
to our resolve. But our greatest strength i s the power of our ideas,
which are s t i l l new i n many lands. Across the world, we see them
embraced and we r e j o i c e . Our hopes, our hearts, our hands are w i t h
those on every continent who are b u i l d i n g democracy and freedom.
Their cause i s America's cause.
The American people have summoned the change we
celebrate today. You have raised your voices in an unmistakable
chorus. You have cast your votes in h i s t o r i c numbers. And you have
changed the face of Congress, the presidency and the p o l i t i c a l
process i t s e l f . Yes, you, my fellow Americans, have forced the
spring.
Now, we must do the work the season demands. To t h a t
work, I now t u r n w i t h a l l the a u t h o r i t y of my o f f i c e . I ask the
Congress t o j o i n w i t h me.
But no President, no Congress, no
government can undertake t h i s mission alone.
My f e l l o w Americans, you, too, must play your p a r t i n
our renewal. I challenge a new generation of young Americans t o a
season of s e r v i c e ; t o act on your idealism by h e l p i n g t r o u b l e d
c h i l d r e n ; keeping company w i t h those i n need; reconnecting our t o r n
communities. There i s so much to be done -- enough, indeed, f o r
m i l l i o n s of others who are s t i l l young i n s p i r i t t o give of
themselves i n service, too.
In serving, we recognize a simple, but powerful t r u t h .
We need each other, and we must care f o r one another. Today, we do
more than celebrate America. We rededicate ourselves t o the very
idea of America, an idea born i n r e v o l u t i o n and renewed through two
centuries of challenge? an idea tempered by the knowledge t h a t , but
for f a t e , we, the f o r t u n a t e , and the unfortunate, might have been
each other; an idea ennobled by the f a i t h t h a t our nation can summon
from i t s myriad d i v e r s i t y the deepest measure of u n i t y ; an idea
infused w i t h the c o n v i c t i o n t h a t America's long, heroic journey must
go forever upward. (Applause.)
And, so, my f e l l o w Americans, as we stand at the edge of
the 21st century, l e t us begin anew w i t h energy and hope, w i t h f a i t h
and d i s c i p l i n e . And l e t us work u n t i l our work i s done. The
Scripture says, "and l e t us not be weary i n w e l l - d o i n g , f o r i n due
season we s h a l l reap i f we f a i n t not." From t h i s j o y f u l mountaintop
of c e l e b r a t i o n we hear a c a l l to service i n the v a l l e y . We have
heard the trumpets. We have changed the guard. And now each i n cur
own way, and w i t h God's help, we must answer tne c a l l .
Thank you and God bless you a l l .
END
(Applause.)
12:16
P.M.
EST
�^ ^ 5 - T^ot J
�THE WHITE HOUSE
O f f i c e of the Press Secretary
For Immediate Release
February 11, 1993
REMARKS BY THE PRESIDENT
IN ADDRESS TO BUSINESS LEADERS
The East Room
11:49 A.M.
EST
THE PRESIDENT: Thank you very much. I would l i k e t o
thank a l l of you l a d i e s and gentlemen f o r coming here t o j o i n me
today. _ I would l i k e t o say a special word of thanks t o the leaders
of v a r i o u s organizations and sectors of our economy who came i n a
l i t t l e e a r l i e r f o r a b r i e f i n g . And thanks t o the members of the
a d m i n i s t r a t i o n who are here, who have been working so hard f o r the
l a s t t h r e e weeks on our economic program; and t o the Vice President
who went a l l the way t o C a l i f o r n i a l a s t n i g h t t o do a town meeting
and came i n about 5:00 a.m. t h i s morning. He's the only person here
who's had less sleep than I have. That's what Vice Presidents are
for.
(Laughter.)
A
I have asked you t o come here today because we have t o
meet a challenge together. Many of you have been my f r i e n d s f o r some
time, and you have worked w i t h me i n t h i s campaign and i n others.
Many o f you are members of the other p a r t y who love your country and
care very deeply about the health of our economy.
I t doesn't matter. I f you look a t the h i s t o r y of our
country, whenever the chips have been down, the p r i v a t e sector, the
business community has r a l l i e d t o help America meet i t s challenges i n
war and i n peace. I n two world wars, businessmen and women were
among the leaders i n our great n a t i o n a l m o b i l i z a t i o n s , p u t t i n g aside
n a t i o n a l narrow i n t e r e s t s f o r the n a t i o n a l i n t e r e s t s .
When our n a t i o n faced challenged from c i v i l r i g h t s to
the energy c r i s i s , businesses have taken the lead i n coping w i t h
change. Americans are a t t h e i r best answering alarm b e l l s i n the
n i g h t . But I t h i n k every one of you know t h a t today we face a c r i s i s
which, w h i l e q u i e t e r , i s every b i t as profound as those we have faced
i n our past.
We r i s k l o s i n g the standard of l i v i n g t h a t we have taken
f o r granted f o r so many years as Americans. Too many middle class
Americans have already s u f f e r e d through a decade or more of d e c l i n i n g
r e a l wages and r i s i n g basic costs.
Now, even though i t i s s a i d we are i n a recovery and the
overall^economic i n d i c a t o r s are cruite impressive, the i o b c r e a t i o n '
:hat^normally accompanies a rec^VP^y "i ^
evidence.^ Small
—businesses are having t r o u b l e c r e a t i n g jobs because of the lack of
the a v a i l a b i l i t y of c r e d i t or because of the costs of h e a l t h care.
Big businesses are c o n t i n u i n g t o r e s t r u c t u r e not j u s t manufacturing
businesses but service organizations, too, because of the demands of
the g l o b a l economy.
Business people have t o deal w i t h the r e a l i t i e s they
face, and they o f t e n make annual plans i n f i v e - y e a r f o r e c a s t s , based
on t h e best numbers they can get. Your government f o r the l a s t
several years has e i t h e r not been making annual plans or five-year
f o r e c a s t s or they've been based on numbers which aren't r e a l and
plans which were never intended t o be c a r r i e d out.
MR
OE
�- 2 -
Early i n my campaign f o r President I d i d what I had
always done when running f o r governor — I put out a plan which as
nearly as I could set f o r t h what I thought we ought t o do as a
country t o increase jobs and incomes, t o reduce the n a t i o n a l debt, t o
r e s t o r e t h e h e a l t h of our economy and t o deal w i t h the long-term
problems we face.
'
I wante
wanted t o increase investment, reduce consumption,
r e s t o r e f a i r n e s s t o the t a x code and growth t o t h e incomes of
America, deal w i t h the s t r u c t u r a l problems of t h i s economy l i k e
h e a l t h care and t h e c r e d i t crunch, and t o do i t i n a context t h a t
would enable us t o have long-term h e a l t h by reducing the n a t i o n a l
debt considerably. I d i d i t l a s t year based on the numbers t h a t were
then a v a i l a b l e . I revised the plan again i n l a t e s p r i n g . I n August
the government s a i d t h a t t h e d e f i c i t was going t o be bigger than we
had a n t i c i p a t e d .
v
J
Then still, I thought we could do essentially what we
had outlined, but after the election, the government revised the
deficit figures upward again, this time by as much as $5Q billion per
year in each of the next four years.
t^n.)
/
( N o w y i have a choice. I can do what has been done by
people i n b o t h ^ a r t i e s f o r the l a s t several years and has c e r t a i n l y
been done by a d m i n i s t r a t i o n s u n w i l l i n g t o give up t h e r h e t o r i c of low
taxes and less government — even though costs were exploding, I can
s o r t o f deny t h e problem and f i n e s s e the numbers. Or I can t e l l you
what I t h i n k i s t h e t r u t h . I t h i n k I should f o l l o w t h e l a t t e r
course.
I b e l i e v e t h a t given t h e size o f t h i s d e f i c i t , given the
burden i t w i l l p u t on today and tomorrow i n terms of higher i n t e r e s t
r a t e s , given t h e f a c t t h a t we also have p l a i n investment d e f i c i t i n
the education and t r a i n i n g of our people and t h e investment i n our
i n f r a s t r u c t u r e and those t h i n g s t h a t are c r i t i c a l t o b u i l d i n g highwage, high-growth jobs, we have t o take even more dramatic a c t i o n
than I had p r e v i o u s l y thought t o increase investment f o r jobs and
incomes; r e s t r a i n unnecessary government spending; r a i s e revenues i n
a f a i r way; and reduce t h e n a t i o n a l debt so we can have long-term
growth.
I t h i n k i f we do n o t do these t h i n g s , we w i l l pay f o r
it.
I t h i n k t h e cost,of t h e s t a t u s quo i s f a r , f a r higher than
f a c i n g our problems and moving forward. Businesspeople have known
f o r years t h a t something had t o be done about our d e f i c i t . The
n a t i o n a l debt has quadrupled since 1980. Even more d i s t u r b i n g ,
unless present trends are a l t e r e d , the debt on an annual basis w i l l
explode i n the years ahead w i t h 50 percent of i t coming from
increases i n h e a l t h care costs.
I want t o reduce t h i s d e f i c i t , n o t as end i n i t s e l f , but
because I t h i n k i t i s a c r i t i c a l p a r t of a s t r a t e g y t o b u i l d jobs and
growth f o r America today and over the long run. I n order t o do that,
I need your support and your c o n t r i b u t i o n . Everyone w i l l have t o pay
t h e i r f a i r share. But i f you do, we w i l l a l l be b e t t e r o f f and the
business community w i l l be stronger i n the years ahead.
^
Government has an o b l i g a t i o n t o provide t h e proper
environment i n which business can prosper, b u t t h e p r i v a t e sector
d r i v e s t h e economy. I f i n t e r e s t rates are t o o high, i f the f i n a n c i a l
system i s i n d i s a r r a y , i f h e a l t h care costs are crushing out
d i s c r e t i o n a r y income, which can be put i n t o new p l a n t and equipment
or h i r i n g a d d i t i o n a l workers, t h e environment i n which we operate
w i l l be c r i p p l e d because t h e p r i v a t e sector cannot work. I want
be a b e t t e r p a r t n e r than t h a t t o you so t h a t you can do your j o b .
MORE
�- 3 -
P r o d u c t i v i t y has gone up a t an astonishing r a t e i n many
sectors of the American economy i n the 1980s and i n the e a r l y '905.
This recovery, indeed, t h a t we now see underway seems t o be based on
three t h i n g s : home mortgages going down enough f o r people t o
refinance t h e i r homes and buy new homes; consumer confidence coming
up since the e l e c t i o n . I hope I can keep i t up. But most important,
dramatic increases i n p r o d u c t i v i t y i n the p r i v a t e sector./ Those J ~ ~ ~
^~~
p r o d u c t i v i t y increases are not yet manifested i n more jobs f o r the
American people or higher incomes, and they won't be u n t i l we do
something about h e a l t h care, about the d e f i c i t , and about doing the
things i t takes t o make our country as a whole competitive over the
long run. That i s what I am t r y i n g t o grapple w i t h as your President
and what I need your support, beginning next Wednesday, i n the
Congress w i t h so t h a t we can make progress on these great issues.
v/\.A.'
9
I f we don't reform our economic p o l i c i e s , I'm convinced
e v e n t u a l l y we w i l l f a l l f u r t h e r and f u r t h e r behind. Ten years from
now we won't even recognize the country t h a t we a l l grew up i n . Ten
years from now, i f we don't change present p o l i c i e s , the f o l l o w i n g
things w i l l happen: The d e f i c i t w i l l be $653 b i l l i o n i n a given
year. The n a t i o n a l debt w i l l be 78 percent of our gross domestic
product. Health care costs w i l l take up almost 20 percent of GDP.
They are a t 14 percent today. Only one other advanced n a t i o n i n the
e n t i r e w o r l d — Canada — i s above nine, and they're j u s t a l i t t l e
b i t above nine today. Medicare and Medicaid costs w i l l t r i p l e f o r
taxpayers and people able t o bear the burdeflj
J We have got t o change. The short-term pain of making
changes now i s so much l e s s than the long-term cost of continuing t o
J
do t h i n g s the wa^_we_'re doing them.fSo nex-c weex: i ~Trill t r y tm
pTopas^-~an economic package t h a t w i l l give the American people
fundamental changg^jA goal i s an economy t h a t faces the world
—
without f e a r . A n d n o t only meets, but beats our r i v a l s i n economic
competition around the world. An economy t h a t i s growing, t h a t
provides jobs t o everyone w i l l i n g and able t o work, t h a t does not
r e s t u n t i l the great American middle class t h a t b u i l t t h i s country
once again f e e l s t h a t people who work hard and play by the rules w i l l
be rewarded and not punished.
The broad o u t l i n e s of t h i s plan are no secret, but I'd
l i k e t o r e s t a t e them. F i r s t , t o ensure t h a t we do not lose the
momentum and the new confidence t h a t we have seen among consumers and
i n the markets, and t o f i n a l l y get sustainable job growth, I believe
s t r o n g l y t h a t we need an investment l e d jobs package^ But a l l of us
here know t h a t our problems go beyond the business cycle. More
i m p o r t a n t l y , we need a long-term plan t o increase investment i n the
American people and t h e i r f u t u r e . We w i l l put i n place a program of
investment i n the p h y s i c a l i n f r a s t r u c t u r e t h a t i s a p r e c o n d i t i o n f o r
p r o s p e r i t y and p r o d u c t i v i t y .
F i n a l l y , we w i l l reduce our d e f i c i t , not as an end i n
i t s e l f , as I s a i d , but as a means t o achieve higher incomes and more
jobs. This w i l l r e q u i r e tough choices from a l l Americans. And
before I t u r n t o the middle class f o r help I have t o t u r n t o people
who d i d w e l l i n the l a s t decade.
This past week we began w i t h the government, where we
ought t o begin, s e t t i n g our own house i n order. Too o f t e n i n recent
years our government has been our government has been on automatic
p i l o t . And b e l i e v e me, i t ' s been a very long time since the kind of
searching reexamination of the mission of government has been
undertaken t h a t you do a l l the time — t h a t you do j u s t t o survive.
And so we are beginning a process of l i t e r a l l y t r y i n g t o reinvent
your n a t i o n a l government so t h a t we can increase i t s p r o d u c t i v i t y ,
i t s e f f e c t i v e n e s s and i t s a b i l i t y t o be a partner w i t h you i n the
great e n t e r p r i s e on which we now embark.
MR
OE
�- 4 -
I b e l i e v e t h a t Washington has t o change before we can
ask America t o change. On Tuesday I kept my campaign pledge t o c u t
the White House s t a f f by 25 percent below the l e v e l t h a t I found i t .
That was a s i g n i f i c a n t c u t , but I want t o emphasize t o you I d i d i t
the way most of you would have done i t . I d i d n ' t j u s t slash t h e
numbers. We have reorganized the White House s t a f f and I b e l i e v e
t h i s smaller group w i l l increase i t s a b i l i t y t o serve t h e American
people.
We now have an Economic Security Council t o go w i t h our
N a t i o n a l S e c u r i t y Council and our Domestic Policy o p e r a t i o n . We're
going t o have a smaller drug p o l i c y operation, but i t ' s f i n a l l y going
to have something t o do w i t h the r e s t of the government. I t ' s not
going t o be p o l i t i c s and speeches and p o s t u r i n g , i t ' s going t o be
e f f e c t i n g the p o l i c i e s of every department of the n a t i o n a l
government. We are going t o have a smaller, but more i m p o r t a n t l y ,
f a r more p r o d u c t i v e White House.
And on yesterday, we extended those measures t o t h e
e n t i r e government — ordering a r e d u c t i o n i n f e d e r a l bureaucracy by
100,000 people by a t t r i t i o n over t h e next four years, w i t h a t l e a s t
10 percent of those cuts t o come from senior management. And
o r d e r i n g agency and department costs t o be reduced by between three
and up t o f i v e percent over the next f o u r years, f o r savings i n
excess o f $9 b i l l i o n by a d m i n i s t r a t i v e actions alone. And again, not.
c u t t i n g f o r cuts' sake, b u t t o r e d i r e c t those monies t o more
p r o d u c t i v e purposes and leaving those departments n o t only leaner but
more e f f i c i e n t than they were before.
And this is just the beginning. We are going to
reexamine whether you're getting your money's worth. One of the
people I spoke with already this morning said, I can give you some
examples of things that work and things that don't in the national
government. I'll just mention one publicly because we all know it
doesn't work — the superfund has been a disaster. All the money
goes to lawyers and none of the money goes to clean up the problems
that it was designed to clean up.
.
p
Thnap. qr-o -i-ho virnis of challenges )we expect t o do a
- f e t t e r j o b of meeting, perhaps w i t h fewer people whenever p o s s i b l e ,
but w i t h greater p r o d u c t i v i t y . Now I ask you t o do your p a r t . We
:o replace t h i s s o c i a l c o n t r a c t t h a t somehow c r e p t i n t o our
t h i n k i n g i n the 1980s; t h a t somehow we had t o have greater i n e q u a l i t y
i n t h i s country t o get p r o s p e r i t y . That was the idea. Even i n the
years i n which we created jobs income i n e q u a l i t y was exacerbated i n
America.
Now I t h i n k we need a new compact. Everybody does h i s
We want t o lower t h e cost of c a p i t a l through long-term reductions m
the d e f i c i t . We want t o provide s p e c i a l i n c e n t i v e s t o new
e n t e r p r i s e s w i t h long-term c a p i t a l gains treatment. We want t o
provide some changes i n t h e tax code t h a t w i l l p l a i n l y reward
investment as opposed t o consumption i n the business sector. But we
also have t o face t h e f a c t t h a t the d e f i c i t w i l l n o t vanish i n a
f l a s h . We w i l l c u t i t , and we w i l l cut i t as much as we reasonably
can. And i f our p l a n i s adopted, i t w i l l be the f i r s t time since the
1940s t h a t the government has succeeded i n d r a m a t i c a l l y slashing the
debt. Ai^-^-^ttight^add, i t was i n e v i t a b l e then a t t h e end of World
War yOy i/hten/the debt-was running a t about 120 percent of Gross
fatdonal/ Productr
We are going t o work as hard as we can — and we
desperately need your support t o do i t — t o b r i n g h e a l t h care costs
under~contrelT—-MraVe-tjD-say t h i s : I f you want t h i s d e f i c i t brought
down, not f o r f o u r years, but f o r e i g h t or t e n years, u n t i l we can do
away w i t h i t , i t w i l l never, ever be done u n t i l we pass a n a t i o n a l
h e a l t h plan t o c o n t r o l costs and provide a basic h e a l t h system f o r
MORE
�- 5-
a l l Americans and t o stop s h i f t i n g costs on t o you f o r people who
aren't insured. I t w i l l never happen unless we do t h a t .
F i f t y percent — l e t me r e i t e r a t e — f i f t y percent of
the projected growth i n t h i s debt between now and the year 2000 i s i n
h e a l t h care costs. And we only pay 3 3 percent o f the n a t i o n a l h e a l t h
care b i l l . More than t w o - t h i r d s of i t i s being p a i d by you. And the
same t h i n g w i l l happen t o your cost. The best t h i n g the President
and the Congress could do f o r the American economy over the next
decade i s t o b r i n g h e a l t h costs i n l i n e w i t h i n f l a t i o n . I t would
f r e e up hundreds of b i l l i o n s of d o l l a r s t o r e i n v e s t i n new jobs and
higher incomes and greater p r o d u c t i v i t y and growth. And we must not
delay t h a t .
So I implore you not only t o f e e l t h a t you can be
involved i n our d e l i b e r a t i o n s on what should be i n the n a t i o n a l
h e a l t h s t r a t e g y , but also t o help us pass t h a t along w i t h t h i s budget
i n Congress t h i s year.
I want t o also do something the governments o f our
competitors do w i t h o u t apology.
I t h i n k we ought t o have pragmatic
partnerships w i t h the p r i v a t e sector t o strengthen our t e c h n o l o g i c a l
leadership. Research and development resources should s h i f t toward
technologies t h a t w i l l t r a n s l a t e i n t o commercial successes. And we
must work together t o create a n a t i o n a l i n f o r m a t i o n i n f r a s t r u c t u r e .
One o f the things I've been determined t o do i n a l l
these budget meetings we've been having f o r the l a s t three weeks i s
t o make sure t h a t every d o l l a r by which we reduce research and
development i n the defense budget f i n d s i t s e l f i n t o an increase i n
the domestic research and development budget o f t h i s country, and
more. We have g o t t o do t h a t . We also should give you more
i n c e n t i v e s t o i n v e s t , as I said. I want t o reform the corporate t a x
system t o ensure t h a t i t rewards and encourages those who i n v e s t i n
p r o d u c t i v i t y — i n planned equipment, research and development, i n
people who w i l l create the jobs and the markets o f tomorrow.
And i n r e t u r n , we must ask your c o n t r i b u t i o n t o b r i n g i n g
the d e f i c i t down. Let me say something I haven't said yet. We did
not j u s t cut the White House s t a f f and the executive a d m i n i s t r a t i v e
costs o f t h i s budget. You w i l l see there are a l o t o f other very
r e a l cuts i n f e d e r a l spending.
And they w i l l be r e a l , d e f i n a b l e and
measurable, n o t imaginary — t h a t w i l l be l a i d on the t a b l e before
the Congress and the American people.
Once we do t h a t , we must ask f o r g r e a t e r c o n t r i b u t i o n s
t o close t h i s d e f i c i t . And we should begin w i t h those whose taxes
were reduced and whose incomes went up i n the 1980s — the w e a l t h i e s t
Americans and c o r p o r a t i o n s . I w i l l ask f o r an increase, as I said :r.
t h e campaign, on the income tax of the w e a l t h i e s t Americans and
corporations, along w i t h the i n c e n t i v e s t h a t I have recommended t o
get people — lower t h e i r incomes, tax burden — i f , but only i f ,
they make investments i n t h i s country.
Our s i t u a t i o n i s worsened and we may have t o broaden me
range o f revenues which we seek. But we should begin by asking thrse
who can most a f f o r d t o pay t o do so.
I have also been persuaded by my Treasury Secretary
i t i s unwise, indeed impossible, t o r a i s e the i n d i v i d u a l incoire J X
r a t e unless t h e r e i s a corresponding increase i n the corporate tax
r a t e t o avoid t a x s h i f t i n g . But the corporations should also have
i n c e n t i v e s t o r e i n v e s t as t h e i r rates are r a i s e d . And so we have
done both t h i n g s i n the plan we w i l l recommend.
I t a l k e d a l o t i n the campaign about an issue which has
r e l a t i v e l y small d o l l a r impact, but great s i g n i f i c a n c e t o the
American working people, and t h a t i s the enormously increased rate o:
MR
OE
�- 6 -
executive compensation i n t h e l a s t 12 years as compared w i t h the
compensation of workers. I want t o make a proposal t h a t deals w i t h
the f a c t t h a t the t a x code should no longer subsidize excessive pay
of c h i e f executives and other high executives; excessive defined as
unrelated t o the p r o d u c t i v i t y of the e n t e r p r i s e .
I b e l i e v e , f i n a l l y , t h a t i f a l l of us do what we're
upposed t o do, i f I can ask every American honestly t o look i n the
m i r r o r and say, what do I want t h i s country t o look l i k e i n four
years; what do I want t h i s country t o look l i k e i n 10 years; what do
I want t h i s country t o look l i k e when my c h i l d r e n are my age; do I
r e a l l y want t o l e t y e t another o p p o r t u n i t y go by when we j u s t wander
through a year instead of r e a l l y i n v e s t i n g i n our people and our
f u t u r e , i n s t e a d of r e a l l y having a technology p o l i c y , i n s t e a d of
r e a l l y having an economic s t r a t e g y , instead of r e a l l y doing something
about the c r e d i t crunch, instead o f r e a l l y doing something about
h e a l t h care, instead of r e a l l y doing something about t h e d e f i c i t —
j u s t because I wish I d i d n ' t have t o change my ways — I t h i n k almost
every American w i l l look i n the m i r r o r and say, no, no, t h i s year
w e ' l l p u l l together and do our p a r t .
follow.
I f t h e business community leads the way, Congress w i l l
I need your help. I hope y o u ' l l be there.
Thank you very much.
END
12:13 P.M. EST
�
Dublin Core
The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/.
Title
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Michael Waldman
Description
An account of the resource
<p>Michael Waldman was Assistant to the President and Director of Speechwriting from 1995-1999. His responsibilities were writing and editing nearly 2,000 speeches, which included four State of the Union speeches and two Inaugural Addresses. From 1993 -1995 he served as Special Assistant to the President for Policy Coordination.</p>
<p>The collection generally consists of copies of speeches and speech drafts, talking points, memoranda, background material, correspondence, reports, handwritten notes, articles, clippings, and presidential schedules. A large volume of this collection was for the State of the Union speeches. Many of the speech drafts are heavily annotated with additions or deletions. There are a lot of articles and clippings in this collection.</p>
<p>Due to the size of this collection it has been divided into two segments. Use links below for access to the individual segments:<br /><a href="http://clinton.presidentiallibraries.us/items/browse?advanced%5B0%5D%5Belement_id%5D=43&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=2006-0469-F+Segment+1">Segment One</a><br /><a href="http://clinton.presidentiallibraries.us/items/browse?advanced%5B0%5D%5Belement_id%5D=43&advanced%5B0%5D%5Btype%5D=is+exactly&advanced%5B0%5D%5Bterms%5D=2006-0469-F+Segment+2">Segment Two</a></p>
Creator
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Michael Waldman
Office of Speechwriting
Date
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1993-1999
Identifier
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2006-0469-F
Extent
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Segment One contains 1071 folders in 72 boxes.
Segment Two contains 868 folders in 66 boxes.
Provenance
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Clinton Presidential Records: White House Staff and Office Files
Publisher
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William J. Clinton Presidential Library & Museum
Format
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Adobe Acrobat Document
Still Image
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Original Format
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paper
Dublin Core
The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/.
Title
A name given to the resource
Speeches: BC - Remarks
Creator
An entity primarily responsible for making the resource
Office of Speechwriting
Michael Waldman
Is Part Of
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Box 33
<a href="http://clinton.presidentiallibraries.us/items/show/36403"> Collection Finding Aid</a>
<a href="https://catalog.archives.gov/id/7763296">National Archives Catalog Description</a>
Identifier
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2006-0469-F Segment 1
Provenance
A statement of any changes in ownership and custody of the resource since its creation that are significant for its authenticity, integrity, and interpretation. The statement may include a description of any changes successive custodians made to the resource.
White House Staff and Office Files
Publisher
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William J. Clinton Presidential Library & Museum
Format
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Adobe Acrobat Document
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Preservation-Reproduction-Reference
Date Created
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6/3/2015
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7763296
42-t-7763296-20060469F-Seg1-033-020-2015