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5/24/76 - Golden Circle Club, San Francisco
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1133468
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document
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5/24/76 - Golden Circle Club, San Francisco
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Carla A. Hills Speeches
Speeches
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Capitalism
Economics
Fiscal policy
Government regulation
Presidential campaign, 1976
Veto power
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1976-05-24
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1976
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24
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1976-05-24
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5
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1976
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The original documents are located in Box 2, folder "5/24/76 - Golden Circle Club, San
Francisco" of the Carla A. Hills Speeches at the Gerald R. Ford Presidential Library.
Copyright Notice
The copyright law of the United States (Title 17, United States Code) governs the making of
photocopies or other reproductions of copyrighted material. Gerald Ford donated to the United
States of America his copyrights in all of his unpublished writings in National Archives collections.
Works prepared by U.S. Government employees as part of their official duties are in the public
domain. The copyrights to materials written by other individuals or organizations are presumed to
remain with them. If you think any of the information displayed in the PDF is subject to a valid
copyright claim, please contact the Gerald R. Ford Presidential Library.
Digitized from Box 2 of the Carla A. Hills Speeches at the Gerald R. Ford Presidential Library
GOLDEN CIRCLE CLUB
ST. FRANCIS HOTEL, OAK ROOM
SAN FRANCISCO, CALIFORNIA
MAY 24, 1976
THANK YOU FOR INVITING ME HERE, TODAY.
SINCE I AM A MEMBER OF THE FORD ADMINISTRATION, AND
PRESIDENT FORD JUST HAPPENS TO BE IN A TOUGH PRIMARY BATTLE
-- TO BE DECIDED 15 DAYS FROM TODAY -- YOU MIGHT THINK MY
BEING HERE IS NO COINCIDENCE.
You ARE RIGHT!
PERSONALITIES, REGIONAL ISSUES, AND POLITICAL IDEOLOGIES
ASIDE -- THERE IS ONE ISSUE IN CALIFORNIA, AS THERE IS ONE
ISSUE IN THE NATION.
AND IT ISN'T WHAT WE DO IN PANAMA OR THE PROS AND CONS
OF PAST RUSSIAN TRADE DEALS -- THAT'S JUST DUST FROM THE
CAMPAIGN TRAIL,
THE OVERRIDING ISSUE IS THE STATE OF THE NATION'S
ECONOMY -- WHERE WE ARE TODAY AND WHERE WE'RE GOING TOMORROW.
BECAUSE IF THE UNITED STATES DOESN'T CONTINUE TO KEEP A FIRM
HANDLE ON THE ECONOMIC FORCES THAT CONTROL ITS DESTINY
ALL THE REST IS TALK.
GERALD FORD LIBRARY
-2-
Now, WE HAVE HEARD WHAT ALL THE OTHER CANDIDATES, IF
ELECTED, MIGHT DO ABOUT THE NATION'S ECONOMY -- RANGING FROM
THE OLD, OLD, OLD PROPOSITION OF BUYING OUR WAY OUT OF EVERY
CRISIS WITH TAXPAYER DOLLARS, TO THE EVEN OLDER, TURN-OF-
THE-CENTURY NOTION THAT THE FEDERAL GOVERNMENT SHOULD STOP
THE WORLD AND GET OFF,
ONLY ONE MAN IN THE RUNNING, GERALD R. FORD OF MICHIGAN,
HAS PROVEN THAT HE KNOWS WHAT TO DO ABOUT THE NATION'S
ECONOMY IN THE REAL WORLD OF TODAY -- 1976. ONLY ONE MAN
HAS A TEAM IN OFFICE THAT CAN BE JUDGED AS TO ITS PROVEN
CAPACITY TO DO THE JOB.
BECAUSE WHAT IS HAPPENING IN CALIFORNIA IS HAPPENING
ALL OVER AMERICA TODAY, FACTORIES ARE BACK IN PRODUCTION.
LOCAL UNEMPLOYMENT HAS BEEN REDUCED.
THE PRODUCTION LINES, TURNING OUT ALL OF THOSE NEW
PRODUCTS, ARE THE REGENERATIVE PROCESSES OF FREE ENTERPRISE,
PRODUCING NOT ONLY CONSUMER ITEMS AND JOBS AT THE FACTORIES
BUT JOBS IN SUPPLIER PLANTS, IN SERVICE CENTERS, SALES
ROOMS, ADVERTISING COMPANIES, AND ALL OVER THE COUNTRY,
-3-
THESE JOBS ARE REAL JOBS -- NOT GOVERNMENT MAKE-WORK
JOBS.
IN THE EVANS AND NOVAK COLUMN LAST WEEK, A MID-WESTERN
PARTY LEADER WAS QUOTED AS SAYING "FORD HAS BEEN A PRETTY
GOOD CARETAKER."
THAT WAS MEANT AS A SLAP, BUT THE FACT IS THAT PRESIDENT
FORD HAS BEEN TAKING BETTER CARE OF THE NATION'S AFFAIRS
THAN ANY PRESIDENT IN RECENT HISTORY.
ON TAKING OFFICE, HE LED THIS NATION THROUGH ITS MOST
SERIOUS CONSTITUTIONAL CRISIS SINCE ITS BIRTH, AND THEN
PROCEEDED TO RESTORE NATIONAL CONFIDENCE IN THE INSTITUTIONS
WHICH DISTINGUISH OUR FORM OF GOVERNMENT FROM THOSE ENDURED
BY A MAJORITY OF THE WORLD'S PEOPLE.
THE PAINSTAKING CARE OF HIS STRONG LEADERSHIP OVER THE
PAST TWENTY-TWO MONTHS HAS RESTORED THE PRESTIGE OF AMERICA
AMONG THE COUNTRIES OF THE WORLD - WHILE MAINTAINING PEACE,
ENHANCING GOOD WILL, AND STANDING FIRM ON THE NEED FOR
CONTINUED NATIONAL STRENGTH,
-4-
WHAT BETTER MEMORIAL TO OUR BICENTENNIAL THAN THE FACT
THIS PRESIDENT HAS LED FIRST AMERICA AND NOW THE ENTIRE FREE
WORLD OUT OF A POTENTIALLY DISASTEROUS RECESSION?
IT IS THE DEVELOPMENT UNDER PRESIDENT FORD OF A SOUND
NATIONAL ECONOMIC POLICY -- AND HIS COURAGE TO STICK WITH IT
IN SPITE OF HIS DOOM-CRYING CRITICS -- THAT ESTABLISHES HIM
AS PRECISELY THE CARETAKER WE NEED TO TAKE CARE OF THE
NATIONAL ECONOMIC RECOVERY, WHICH, THANKS TO HIM, IS FIRMLY
UNDERWAY,
AND THAT IS WHAT I WOULD LIKE TO TALK ABOUT,
INDEED THE LACK OF VOTER CONFIDENCE IN THE ABILITY OF
EITHER THE PUBLIC OR PRIVATE SECTORS TO FIND ECONOMIC SOLUTIONS
HAD PLACED OUR FREE ENTERPRISE SYSTEM IN ITS GREATEST JEOPARDY
SINCE THE GREAT DEPRESSION.
IT IS STILL VERY "AMERICAN" TO SING THE PRAISES OF OUR
FREE ECONOMY THAT HAS MADE AMERICA THE ENVY OF THE WORLD,
AND, RECENT POLLS FINDINGS THAT MOST AMERICANS WOULD MAKE
SACRIFICES TO PRESERVE THE SYSTEM, MAKE WARM READING.
BUT, WHAT WE SAY ABOUT FREEING OUR ECONOMIC SYSTEM FROM
FEDERAL SHACKLES AND WHAT WE ACTUALLY DO DIFFER MEASURABLY.
-6-
TALK OF CUTTING GOVERNMENT EXPENDITURES WHICH NOW COUNT
FOR ABOUT 40 PERCENT OF OUR GROSS NATIONAL PRODUCT HAS
INCREASED, ON BOTH SIDES OF THE POLITICAL AISLE, BUT PRESIDENT
FORD HAS HAD TO VETO 48 BILLS, TO PROTECT THE TAXPAYERS FROM
$13 BILLION OF ADDITIONAL EXPENDITURES.
THE ISSUE IS NOT WHETHER ANOTHER PRESIDENT WOULD VETO
THE SAME BILLS -- THE FACT IS THAT WITH THE SMALLEST PARTY
SUPPORT IN CONGRESS IN OVER 50 YEARS, HE HAS HAD THE LEADERSHIP
QUALITY AND THE POLITICAL WISDOM TO HAVE THESE VETOES WE
NEEDED SUSTAINED.
POLITICAL CAMPAIGNS HAVE BEEN WAGED AND WON ON THE
PROMISE OF "MORE FOR EVERYBODY". RESTRAINT AND REASON HAVE
NOT BEEN THE RHETORIC OF MOST CANDIDATES. MANY NOW PREACH
THE SAME MESSAGE, BUT WHO ELSE HAS EVER MADE IT WORK?
IN FACT, MANY STILL SINCERELY BELIEVE IN THE POWER OF
GOVERNMENT TO RIGHT EVERY WRONG IN SPITE OF THE EVIDENCE.
You MAY RECALL THE CONTRAST BETWEEN SENATOR MUSKIE'S RESPONSE
TO THE PRESIDENT'S STATE OF THE UNION MESSAGE WHEREIN HE
SAID:
-7-
"WE CAN HAVE CONFIDENCE THAT GOVERNMENT
CAN
PUT PEOPLE BACK TO WORK."
WITH PRESIDENT FORD'S THEME THAT MORE REAL AND LASTING JOBS
ARE CREATED THROUGH THE PRIVATE SECTOR.
OR TAKE THE CURRENT DEBATE REGARDING THE HUMPHREY-
HAWKINS BILL, WHICH REQUIRES THE GOVERNMENT TO CONJURE UP
PUBLIC PAYROLL JOBS TO REDUCE UNEMPLOYMENT TO 3 PERCENT IN
FOUR YEARS.
How MUCH WOULD THE BILL COST? How LONG WOULD THE
PUBLIC PAYROLL JOBS CONTINUE? WHAT WOULD BE THE BILL'S
INFLATIONARY IMPACT?
How MANY PRIVATE BUSINESSES WOULD REDUCE THEIR HIRING
BECAUSE OF THEIR INCREASED COSTS RESULTING FROM THIS FEDERAL
EXPENDITURE?
THE QUESTIONS ARE NOT ANSWERED BECAUSE THE PROPONENTS,
BELIEVE, AND I THINK SINCERELY, THAT WHERE SOMETHING APPEARS
TO BE WRONG WITH THE ECONOMY, THE GOVERNMENT SHOULD RUSH IN
AND BUY A SOLUTION.
-8-
WE CAN ALL AGREE THAT IN SPITE OF THE GOOD NEWS FROM
FACTORIES OF MANY KINDS ALL OVER THE NATION, THE CURRENT
UNEMPLOYMENT RATE IS UNACCEPTABLE. WE DO NOT NEED POLITICAL
SPEECHES TO TELL US THAT JOBLESSNESS GOES BEYOND MERE
STATISTICS. UNEMPLOYMENT AFFECTS PEOPLES' PRIDE, THEIR
HOPE, THEIR WHOLE ATTITUDE TOWARD SOCIETY.
BUT NEITHER WE, NOR THE JOBLESS, SHOULD BE LED TO
BELIEVE THAT LASTING SOLUTIONS CAN COME FROM INCREASING THE
FEDERAL GOVERNMENT'S PURCHASE OF PUBLIC SERVICE JOBS.
WE CANNOT IGNORE THE LESSON FOR WHICH WE PAID so DEARLY
IN THE 1960's -- THAT NO MATTER HOW MUCH WE MAY WILL IT -- A
"SOCIETY" IS NOT SUDDENLY MADE "GREAT" THROUGH WELL-MEANING
PROGRAMS WHOSE SOLE SOURCE OF SUSTENANCE IS THE FEDERAL
EXCHEQUER.
WE KNOW THAT OUR PRIVATE ECONOMY CANNOT SUSTAIN THE
AWESOME FEDERAL DEFICIT OF TODAY'S MAGNITUDE WITHOUT THE
EROSION OF THE VERY FINANCIAL RESOURCES THAT ARE VITAL TO
THE GROWTH AND PRODUCTIVITY OF OUR FREE ENTERPRISES, WHICH
ARE THE SOURCE OF FIVE OUT OF SIX JOBS.
-9-
WE KNOW WE CANNOT ACHIEVE REAL ECONOMIC GROWTH IF THE
GOVERNMENT CONTINUES TO COMPETE WITH THE PRIVATE SECTOR FOR
DOLLARS TO BUY PUBLIC SERVICE JOBS.
AT THE SAME TIME WE CANNOT AGREE WITH THOSE WHO SIMPLISTICALLY
SUGGEST THAT THE FEDERAL GOVERNMENT CAN WASH ITS HANDS OF
THIS NATION'S TOUGH SOCIAL AND ECONOMIC PROBLEMS. EVEN IF
WE WOULD LIKE TO TURN THE CLOCK BACK, WE HAVE NO CHOICE BUT
TO DEAL WITH REALITIES AS THEY EXIST TODAY.
THE PRESIDENT HAS BEEN AND IS DEALING EFFECTIVELY IN
THESE REALITIES.
HIS BUDGET PROVIDES THE FUNDS TO SUPPORT ADEQUATE
INSURANCE AND PROVEN JOB TRAINING UNTIL EVERY AMERICAN WHO
WANTS WORK CAN FIND IT.
BUT, HIS POSITION IS CLEAR: THAT THE WAY TO CREATE
REAL, REWARDING AND LASTING JOBS AND TO REACH AND MAINTAIN
FULL EMPLOYMENT IS THROUGH PRIVATE ENTERPRISE. AND THE WAY
TO SUSTAIN ECONOMIC GROWTH IS TO ENCOURAGE PRIVATE BUSINESS
TO EXPAND, TO MODERNIZE AND TO PRODUCE MORE GOODS AT LOWER
PRICES.
-10-
HE DOES NOT BELIEVE THAT GOVERNMENT DECISIONS TO SPEND
CAN REPLACE PRIVATE DECISIONS TO INVEST.
THUS, THE AMERICAN PEOPLE ARE CONFRONTED BY THIS CLEAR
CLASH OF IDEOLOGY, AND THEY MUST MAKE A PROFOUND CHOICE
GROUNDED IN ECONOMICS. INDEED, IT IS A CHOICE YOU WILL BE
MAKING HERE -- IN CALIFORNIA, IN TWO WEEKS, AND IN NOVEMBER
-- AS YOU DECIDE UPON THOSE POLICIES AND THOSE PERSONS WHOM
YOU SHALL CHOOSE TO LEAD THIS NATION OVER THE FOLLOWING FOUR
YEARS.
PRESIDENT FORD'S STRONG AND PROVEN RECORD TAKES THE
GUESS WORK OUT OF MAKING THAT CHOICE -- CORRECTLY!
WE HIT THE TROUGH OF THE DEPRESSION JUST ONE YEAR AGO,
DISTINGUISHED LABOR AND POLITICAL LEADERS WERE DEMANDING
GREATER FEDERAL STIMULUS AND WERE PREDICTING THAT THE FISCAL
POLICIES OF THIS ADMINISTRATION WOULD LEAD THIS COUNTRY INTO
A DEEPER, DEEPER DEPRESSION.
AND YOU AND I KNOW THAT IT IS FAR MORE EXPEDIENT IN THE
POLITICS OF AN ELECTION CYCLE TO SAY "YES" TO MORE FEDERAL
EXPENDITURES.
-11-
So, WE CAN BE VERY PROUD OF PRESIDENT FORD'S COURAGE IN
EFFECTIVELY SAYING "NO" TO A SUCCESSION OF SPENDING MEASURES
LAST YEAR THAT WOULD HAVE FUELED THE DOUBLE DIGIT INFLATION
WHICH HE HAS MORE THAN CUT IN HALF AND WHICH, FOR THE PAST
THREE MONTHS, HAS HELD STEADY AT AN ANNUAL RATE OF 2.9 PERCENT.
WELL KNOWN ECONOMISTS SUCH AS WALTER HELLER AND OTTo
ECKSTEIN WARNED, CONTRARY TO ALAN GREENSPAN, THAT UNLESS THE
MONEY SUPPLY GREW AT AN ANNUAL RATE OF 10 TO 12 PERCENT, THE
ECONOMY WOULD NEVER MAKE IT OUT OF THE RECESSION,
IN FACT THAT MONEY SUPPLY GREW AT LESS THAN HALF THAT
RATE, AND THE ECONOMY DID EVEN BETTER THAN PRESIDENT FORD
PROMISED.
WHAT WE HAVE TODAY IS A SOUND RECOVERY UNDERWAY. WHAT
WE COULD HAVE HAD WAS A SERIES OF DISASTEROUS SPENDING BILLS
HAD IT NOT BEEN FOR THE PRESIDENT'S STRENGTH IN ISSUING
VETOES UNPOPULAR AT THE TIME AND THE POLITICAL SHREWDNESS TO
CAUSE MOST OF THOSE VETOES TO BE SUSTAINED IN THE FACE OF
THE SO-CALLED "VETO-PROOF" CONGRESS. THOSE ARE THE VERY
TOUGH POLICY CALLS THAT HAVE LED US TO THE TURN-ABOUT NOW
FIRMLY IN PROGRESS.
-12-
CONSIDER THE FACT THAT UNDER HIS "CARETAKER" LEADERSHIP:
PERSONAL SPENDABLE INCOME HAS JUMPED BY $100 BILLION.
OUR GROSS NATIONAL PRODUCT WENT FROM $1.4 TRILLION TO
A PREDICTED $1.6 TRILLION,
RETAIL SALES JUMPED 17 PERCENT.
AUTO SALES 70 PERCENT.
GENERAL MERCHANDISE 13 PERCENT.
HOUSING STARTS 46 PERCENT.
TODAY, 2.6 MILLION MORE AMERICANS ARE WORKING THAN ONE
YEAR AGO, THE UNEMPLOYMENT RATE HAS MOVED DOWN FROM 9 PERCENT
TO 7.5 PERCENT AND CONTINUES DOWNWARD,
THE INDEX OF CONSUMER CONFIDENCE HAS DOUBLED,
NEW FACTORY ORDERS HAVE RISEN FROM $77 BILLION TO
$90 BILLION.
-13-
To QUOTE THE PRESIDENT:
"AMERICA'S FUTURE LOOKS BRIGHTER DAY BY DAY.
EVERYTHING THAT IS SUPPOSED TO BE GOING UP IS
GOING UP, AND EVERYTHING THAT IS SUPPOSED TO
BE GOING DOWN IS GOING DOWN."
BUT NOW, IN 1976, THOSE SAME ECONOMIC SEERS -- WHO WERE
so WRONG IN 1975 -- TELL US THAT THE ECONOMY IS SURE TO GO
"THUD" BEFORE THE YEAR IS OUT.
IT SEEMS TO ME THAT WE HAVE A VERY SOUND BASIS FOR
SUPPORTING THE ONE MAN WHO HAS CALLED EVERY TURN RIGHT --
AND HAS HAD THE POLITICAL COURAGE, ALONG WITH THE UNRUFFLED
STAMINA TO STICK BY HIS GUNS.
AND, WHEN THOSE SAME POLITICAL AND LABOR LEADERS
PREDICT THAT THE PRESIDENT'S $394 BILLION BUDGET FOR 1977 IS
"NOT ENOUGH TO GET CONTINUED DECLINES IN UNEMPLOYMENT" -- WE
CAN LOOK BACK WITH PRIDE TO THE FACT THAT IN THE FACE OF
IDENTICAL PRESSURES LAST YEAR THE PRESIDENT'S PATIENCE,
PRUDENCE AND RESTRAINT LED TO MORE JOBS AND ACHIEVED THE
SOLID RECOVERY THAT WE HAVE NOW.
-14-
THE PRESIDENT'S COURSE HAS BEEN AND CONTINUES TO BE
CLEAR, CAUTIOUS AND CANDID. HIS PROMISES HAVE BEEN UNDERSTATED;
FROM THE BEGINNING HE HAS DELIVERED MORE THAN HE HAS PROMISED.
So THE DECISION IS OURS:
Do WE WANT THE KNOWN ECONOMIC TEAM THAT HAS PLOTTED OUR
PRESENT COURSE TO CONTINUE TO GUIDE OUR POLICIES? Do WE
WANT A PRESIDENT THAT HAS THE UNPRECEDENTED FULL SUPPORT OF
THE ALL-TO-SMALL NUMBER OF REPUBLICANS IN CONGRESS, AND THE
RESPECT AND SUPPORT OF THE NECESSARY NUMBER OF DEMOCRATS TO
SUSTAIN HIS COURSE OF ACTION? OR DO WE WANT TO GAMBLE ON AN
UNKNOWN TEAM WITH AN UNPROVEN CANDIDATE WHO COULD NOT HOPE
TO DO BETTER?
PRESIDENT FORD HAS HELD THE LINE IN EXPENDITURES. HE
HAS IN PROGRESS THE MOST AMBITIOUS OVERHAUL OF GOVERNMENT
REGULATION EVER ATTEMPTED. HE HAS DIRECTLY ATTACKED THE
DELAYS, THE RED TAPE, AND THE REGULATION MAZE so DISHEARTENING
TO THE INNOVATIVE SPIRIT THAT IS THE SOUL OF THE FREE
ENTERPRISE SYSTEM, HE HAS DONE IT AGAINST OVERWHELMING ODDS
IN CONGRESS AND HE HAS DONE IT IN TWO SHORT YEARS, ASSEMBLING
HIS WINNING TEAM AT THE LOWEST POINT IN THE POLITICAL HISTORY
OF OUR COUNTRY.
-15-
HE NEEDS, MORE IMPORTANTLY THE COUNTRY NEEDS, AN
ENDORSEMENT OF THOSE POLICIES, so THAT HE CAN CONTINUE TO
GIVE THE CARE TO OUR ECONOMY THAT IS BY ANY FAIR MEASURE
SUCCEEDING AND SUCCEEDING WELL.
HIS STRENGTH AND PURPOSE MAKE ME PROUD TO SEEK SUPPORT
FOR HIM AND HIS POLICIES AND TO BE PART OF HIS ADMINISTRATION.
HE'S MY KIND OF "CARETAKER".