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Ford Aerospace, 4/25/89 [1]
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Ford Aerospace, 4/25/89 [1]
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Records of the White House Office of Speechwriting (George H. W. Bush Administration)
Speech Draft Files
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Originally Processed With FOIA(s):
FOIA Number:
S; 1999-0093-F
2011-2184-F
FOIA
MARKER
This is not a textual record. This is used as an
administrative marker by the George Bush Presidential
Library Staff.
Record Group/Collection:
George H.W. Bush Presidential Records
Collection/Office of Origin:
Speechwriting, White House Office of
Series:
Speech File Draft Files
Subseries:
Chron File, 1989-1993
OA/ID Number:
13484
Folder ID Number:
13484-003
Folder Title:
Ford Aerospace, 4/25/89 [1]
Stack:
Row:
Section:
Shelf:
Position:
G
26
15
6
7
000 W MAILFAX 3501T
VALUTEC 418
'90 4-24 9:10
PAGE 01
Determined To Be an Administrative
Marking Per E.O. 12356 Sec. 1.1 (a)
CONFIDENTIAL are 9/27/04
CLASSIFICATION
CIRCLE ONE BELOW
MODE
PAGES 13
SECURE FAX # 05
DTG 2313047 Apr 89
IMMEDIATE
PRIORITY
ADMIN FAX #
RELEASER Mut
ROUTINE
RECORD #
FROM/LOCATION
1. him MCBRIDE
TO/LOCATION/TIME OF RECEIPT
1. I'm CICCONI
2.
3.
4.
TOR:2313147 APR89
5.
6.
7.
INFORMATION ADDEES/LOCATION/TIME OF RECEIPT
1.
2.
SPECIAL INSTRUCTIONS/REMARKS:
DECLASSIFIED
SITUATION ROOM
89 APR23 All 58
White House Guidelines
WHITE HOUSE
E.O. 12958, SEC 3.4 (B), August 28, 1997
By The NARA, Date 9/27/04
ConFiDENTIAL
Photo Copy Preservation
000 &W MAILFAX 3501T VALUTEC 418 '90 4-24 9:10
PAGE 02
THE WHITE HOUSE
WASHINGTON
APRIL 20, 1989
INFORMATION
MEMORANDUM FOR THE PRESIDENT
FROM:
CURT SMITH CS
THROUGH: CHRISS WINSTON
cw
off chapes C423
SUBJECT: FORD AEROSPACE ADDRESS
I. SUMMARY
At 9:30 A.M., Tuesday, April 25, you will address 750 Ford
Aerospace workers on the company's plant ground. You will
be flanked by two mock satellites and a banner reading,
"Competitiveness Through Quality."
II. DISCUSSION
The remarks focus on investments -- e.g.. lower capital
gains taxes, more funds for space, the Superbird satellite,
child care -- which can create a more competitive America.
In particular, the text contains humorous references to
Callfornia sports teams and figures which should play well
with the audience.
Photo Copy Preservation
000 .W. MAILFAX 3501T
VALUTEC
418
'90 4-24 9:11
PAGE 03
(Smith/Martin)
April 19, 1989
Draft Four
PALO
PRESIDENTIAL REMARKS: FORD AEROSPACE
PALO ALTO, CALIFORNIA
APRIL 25, 1989
Thank you for that introduction, and for your generous
welcome. It is a pleasure to be in the Bay Area, and among
friends.
You know, I realize I'm taking a chance by quoting him in
Northern California. But it was that noted gourmet, Dodgers
manager Tommy Lasorda, who conceded, "I'm on a sea-food diet. 1
eat all the food I can see."
Tommy's not like most of us: He never met a meal he didn't
like. And if you ask, he'll insist that food ranks among his
most precious investments. It uplifts his performance, mentally
and physically. It enhances his ability to compete and,
indirectly, to keep the Dodgers No. 1.
I'm sure you've all heard the old saying, "Never invest
your money in anything that eats or needs repainting."
Photo Copy Preservation
000 oW MAILFAX 3501T
VALUTEC 418
'90 4-24 9:11
PAGE 04
2
Well, today, I want to talk about a different kind of
investment. Investments which prize the new horizons of
America's technological future. Investments which can create new
jobs, unlock new markets, and unleash new technologies.
Investments, in short, which will make us more competitive and
keep America No. 1.
In a sense, this attitude is typically American. For we
are, at heart, a competitive people. We measure life by today's
Dow Jones average [LOOK AT WATCH]
9:30 a.m. , up points.
VP
lose
or by how our ball club did last night
A's, 4-1
Angel,
Giants, 4-3
Dodgers, beaten 8-5
Sorry, Temmy. folhs.
Dorlyes 9:00m
91am
As Americans, we expect short-term results. And,
historically, we get them. Government's role is to unleash
America's ambition -- to make us more competitive -- by pointing
toward the 21st Century, ensuring long-term results.
The best investment
That is why GUM in the future
slashing the Federal deficit Every dollar the government
does not borrow means more capital available for investment.
an important
Recently, I unveiled a bipartisan budget agreement with
Congress to reduce the deficit. Our accord will narrow it to
$99.4 billion in the fiscal year that begins October 1. That's
far below the $163 billion estimated for the current fiscal year.
Photo Copy Preservation
000 W.MAILFAX 3501T
VALUTEC
418
'90 4-24 9:11
PAGE 05
3
agreed
Now, this plan's an outline -- tough talks still lie ahead.
And we will resume consultations soon on a plan aimed at
balancing the budget by 1993.
Think of deficit reduction as exercise, like walking the dog
every day
believe me. I know. Exercise keeps you at the
top of your game. And so will another investment to build a more
competitive America -- one of many I'll be asking the Congress to
make. I refer to restoring the capital gains differential -- a
step which, according to Treasury estimates, will raise $4.8
billion in new revenue.
consider, on the one hand, those countries which cripple
opportunity. They know, first-hand, the damage caused by
excessive taxation on capital gains. Then consider that our
second-largest trading partner, Japan, has taxed them little, if
at all.
The lesson is self-evident: Restoring the capital gains
differential will make America more competitive. Our plan
Photo Copy Preservation
supports reducing it to 15 per cent on long-held assets. so, let
malet
us met to lift revenue, help savings, and free American
Businesses, without distorting world markets.
some
The opposition ridicules cutty then
Corpital Gain tax as a tax for the
rich Thes are dead mores. what it really
000 .W MAILFAX 3501T
VALUTEC
418
'90 4-24 9:12
PAGE 06
4
You know, ordinarily I take statistics with a grain of salt.
I've seen too many political polls go up and down. Perhaps the
late, great Woody Hayes put it best: "statistics," he said,
"always remind me of the fellow who drowned in a river whose
average depth was only three feet. "
But one statistic does bear reciting. Since November 1982,
nearly 20 million new jobs have been created in this country.
Many have been created right here in Silicon Valley. Well,
through investments to increase competitiveness, we can do still
better.
For instance, we've proposed a permanent extension of the
Research and Experimentation tax credit. America must remain in
the front lines of technological innovation. And we want to
actively increase domestic research by multinationals, and end
the uncertainty of expiring temporary rules.
These steps, and others, can help us walk the unexplored
frontiers of high-technology. For high-tech is potent, precise,
and in the end, unbeatable
.
Truth is, it sort of reminds a
lot of people of the way I pitch horseshoes [PAUSE]
Would
you believe some of the people? [PAUSE]
Would you believe
Millie and her pups? [PAUSE]
Just asking.
Photo Copy Preservation
000 W MAILFAX 3501T
VALUTEC
418
'90 4-24 9:12
PAGE 07
5
My friends, I want to give the high-five to high-tech. And
I want to do it by investing in competitiveness.
That is why I have asked Congress for an increase of $2.4
billion for NASA as it moves ahead with Space Station Freedom,
planned for operation by the mid-1990s. And, I want to elevate
the status of the President's Science Advisor. I have also just
reestablished the National Space Council headed by Vice-President
Quayle to coordinate our future space efforts.
But we can't stop there -- our future won't allow it. so,
let us also invest in the Superconducting Super Collider -- a
bold new experiment fusing science, technology, and education.
Because science is so critical, let us double the National
Science Foundation budget by 1993. And let us use America's
technological prowess to expand free and fair trade. I'm talking
about excellence in such fields as microcomputers,
superconductivity, and, yes, aerospace.
In aerospace, my friends, we can point with pride to
satellites whose technology is American. Satellites like the
Superbird satellite -- among the largest -- 5,500 pounds -- and
most powerful commercial communications satellite yet developed
5,500 pounds? That's even bigger than the 49ers' offensive
line.
Photo Copy Preservation
000 W.MAILFAX 3501T
VALUTEC
418
'90 4-24 9:13
PAGE 08
6
Today, American satellites are among the most competitive
spacecraft for customers who want affordable high-powered
communications satellites. And they are providing regular and
cable television access, telephone lines, newspaper transmission,
and other telecommunications services. Best of all, they are
just a preview of the next generation of satellites. In the 21st
Century, they will keep America No. 1.
You know, that-proclaimed philosopher, Satchel Paige, was
once asked the secret of his competitiveness. "Don't look back,"
he replied. "Somebody might be gaining on you.'
Satchel Paige, like high-technology, knew that as Americans
we look ahead, not back. Always have. And must, now, more than
ever. For the coming decade will see, and shape, a rapidly
changing workforce. To invest its talents will be our challenge
as a Nation.
According to the National Science Foundation, for instance,
by the year 2000 the college-age population will have shrunk
almost 20 per cent. Among college-age youth, minorities will
comprise 1/3. And women, minorities, and immigrants will total
almost 2/3 of new entrants to the labor force.
These facts demand a new investment to build a more
competitive America. It's an investment different from, but
Photo Copy Preservation
000 ow MAILFAX 3501T
VALUTEC 418
'90 4-24 9:13
PAGE 09
7
equally impurtant as, lower capital gains taxes, more funds for
but vital.
space, and other high-technology I'm referring, of course, to
child care.
At Ford Aerospace, officials are responding to changing
demographics and the needs of its employees. By increasing
parental options, Ford's Employee Assistance Program is helping
to keep us competitive. And it is involving community agencies
as child-care resource referrals. Like the YMCA Child Care
Center in Palo Alto, approved and supported by the United way.
I salute your example. And I applaud its emphasis on
choice. Now, there are some Congressional child care initiatives
-- well-meaning initiatives -- but which don't reflect this
emphasis. Our new child care initiative does. Our proposal
urges a new tax credit to make child care more affordable. And
it puts money in the hands of low-income parents, limits Federal
intervention, and increases options. A church can help, or
grandparents, or professional nursery. When it comes to child
care, we say: "Let the parents decide."
For in the end, my friends, it's decisions we come down to.
Decisions to say "Yes" to child care, more funds for space, and
other high-technology. Decisions which serve the entire
community: Workers, investors, students, parents. Decisions to
Photo Copy Preservation
000 W MAILFAX 3501T
VALUTEC 418
'90 4-24 9:14
PAGE 10
8
invest in America so that we can create a more competitive
America.
As Californians, you know what I'm talking about. And you
understand what the writer Lincoln Steffens meant when he said,
"I have seen the future and it works."
For you believe in daring, aspiring, and charting unexplored
frontiers. You look ahead, not back. You know that nothing is
impossible. And by giving of yourselves, and to your country,
you give lift to the American Dream.
Thank you for that, and for your kindness and generosity.
God bless you, and God bless America.
# # # #
Photo Copy Preservation
THE WHITE HOUSE
Office of the Press Secretary
(Palo Alto, California)
For Immediate Release
April 25, 1989
REMARKS BY THE PRESIDENT
TO THE FORD AEROSPACE
SPACE SYSTEMS DIVISION
Ford Aerospace, Space Systems Division
Palo Alto, California
9:27 A.M. PDT
THE PRESIDENT: Thank you, Don, very much. And my
respects to our congressional representatives that are here today --
Pete Wilson, our United States Senator with us today; and Congressman
Campbell especially; other members of Congress that are here; and all
of you at Ford. I want to thank Don Peterson for coming from Detroit
for this occasion, and thank everybody involved in this visit. And I
know what a logistical headache a visit like this might be --
(laughter) -- so we promise to go on time. (Laughter.) Thank you,
gentlemen from the Navy.
And, Don, thanks for the intoduction, and all of you for
the generous welcome. It's a pleasure to be back in the Bay area,
among friends. I'm taking a chance by quoting him in North
California. But it was that noted gourmet, Dodger Manager Tommy
Lasorda who conceded --
AUDIENCE: Ohhhh.
THE PRESIDENT: I knew I was taking a chance.
(Laughter.) "I'm on a seafood diet. I eat all the food I can see,"
he said. (Laughter.) Well, he's not like most of us. He never met
a meal he didn't like. And if you ask, he'll insist that food ranks
among his most precious investments. It uplifts his performance,
mentally and physically. It enhances his ability to compete and,
indirectly, to keep his ball club in contention.
And I'm sure you've all heard the old saying, "Never
invest your money in anything that eats or needs repainting."
(Laughter.)
Well, today I want to talk briefly about a different kind
of investmennt. Investments which prize the new horizons of
America's technological future. Investments which can create new
jobs, unlock new markets and unleash new technologies. Investments,
in short, which will make us more competitive and keep America number
one.
In a sense, this attitude is typically American. For we
are, at heart, a very competitive people. We measure life by today's
Dow Jones average, or by how our ball club did most recently, or
whatever the statistic.
And as Americans, we expect short-term results. And,
historically, we get them. Government's role is to unleash America's
ambition -- to make us more competitive -- by pointing toward the
21st century, ensuring long-term results.
The best investment in the future is to slash the federal
budget deficit. And every dollar the government does not borrow
means more capital available for sound, productive investment.
(Applause.)
MORE
- 2 -
Recently, I unveiled an important bipartisan budget
agreement with Congress to reduce the deficit. It is but a first
step, but the very fact of it was important -- agreement between the
Executive Branch and the Congress. And our accord will narrow this
deficit to $99.4 billion in the fiscal year that began October 1st.
And that's far below the $163 billion estimated for the current
fiscal year.
And now, this plan's an agreed outline -- tough talks
still lie ahead. And we will resume consultations soon on a plan
aimed at balancing the budget by 1993.
Think of the deficit reduction as exercise, like walking
the dog every day. Believe me, I know. Exercise keeps you at the
top of your game. And so will another investment to build a more
competitive America -- one of many that I'll be asking Congress to
make. And I am talking about getting Congress to restore the capital
gains differential --a step which, according to Treasury estimates,
will raise $4.8 billion in new revenue. (Applause.)
I listen to all the criticism and I've heard, as you
have, the criticism of people who ridicule cutting the capital gains
tax as somehow a tax break for the rich. Well, they couldn't be more
wrong. Lower capital gains in taxes, lower capital gains taxes will
create jobs for those who don't have jobs, will help build a better
America. It worked once before and it will work again. So I would
urge everybody here to give strong support, contacting your members
of the United States Congress, to help me restore the capital gains
differential.
Consider, on the other hand - the one hand -- those
countries that cripple opportunity. They know firsthand the damage
caused by excessive taxation on capital gains. And then consider
that our second-largest trading partner, Japan, with whom you are
working very closely, has taxed them little, if at all.
And so the lesson then again is self-evident: restoring
the capital gains differential will make America more competitive.
Our plan supports reducing it to 15 percent on long-held assets. So
let us act to lift revenue, help savings and free America businesses
without distorting world markets.
You know, ordinarily, I take statistics with a grain of
salt. I've seen too many of these polls, these political polls go up
and down. And I guess if I'd have listened to them and gotten
discouraged by them I wouldn't be standing here as President of the
United States of America. (Applause.) But I like what Woody Hayes
said -- remember Woody Hayes, the coach at Ohio State? He put it
best: "Statistics always remind me of the fellow who drowned in a
river whose average depth was only three feet."
One statistic, though, does bear reciting. Since
November 1982, nearly 20 million new jobs have been created in this
country. And many have been created right here in the Silicon
Valley. Well, through investments to increase competitiveness, I
know that we can do even better.
For instance, we have proposed a permanent extension on
the Research and Experimentation tax credit. America must remain in
the front lines of technological innovation. And we want to actively
increase domestic research by multinationals and end the uncertainty
of expiring temporary rules.
These steps and others can help us walk the unexplored
frontiers of high technology. For high-tech is potent, precise and,
in the end, unbeatable.
The truth is it reminds a lot of people the way I pitch
horseshoes. Would you believe -- (laughter) -- would you believe
some of the people? (Laughter.) Would you believe our dog?
MORE
- 3 -
(Laughter.) Look, I want to give the high-five symbol to high-tech.
And I want to do it by investing in competitiveness.
And that's why I've asked Congress for an increase of
$2.4 billion for NASA as it moves head with the Space Station
Freedom. (Applause.) We have selected a new Science Advisor, and I
will elevate his status -- it is important that the President's
Science Advisor have access to the President and that his views be
considered in a wide array of important issues. I've also just
reestablished the National Space Council, headed by the Vice
President, to coordinate our future space efforts.
But we can't stop there -- our future won't allow it. So
let us also invest in the Superconducting Supercollider -- a bold new
experiment fusing science, technology and education. Because
science is so critical, let us double the National Science Foundation
budget by 1993. (Applause.) And let us use our own technolgical
prowess to expand free and fair trade. I'm talking about excellence
in such fields as microcomputers and superconductivity and, yes,
aerospace.
In aerospace, we can point to satellites whose technolgoy
is American -- point with pride to that. Satellites like the
Superbird satellite -- among the largest -- 5,500 pounds --
(applause) -- the most powerful communications satellites yet
developed -- 5,500 pounds. That's even bigger than the 49ers'
offensive line. (Laughter.)
Today, America's satellites are among the most
competitive spacecrafts for customers who want affordable
high-powered communications satellites. And they are providing
regular and cable television access, telephone lines, newspaper
transmission and other telecommunications services. And best of all,
they're just a preview of the next generation of satellites. In the
21st century, they will keep America as number one. (Applause.)
You know -- remember Satchel Paige? Great black pitcher,
self-proclaimed philosopher. They asked him what was the secret of
his competitiveness. You remember what he said. "Don't look back.
Somebody might be gaining on you."
Well, Satchel, like high technology, knew that as
Americans we do look ahead and not back. We always have. And we
must now, more than ever. For the coming decade will see and shape a
rapidly changing workforce. To invest its talents will be our
challenge as a nation.
According to the National Science Foundation, for
instance, by the year 2000 the college-age population will have
shrunk almost 20 percent. Among college-age youth, minorities will
comprise one-third. And women, minorities, and immigrants will total
almost two-thirds of the new entrants into the labor force.
These facts demand a new investment to build a more
competitive America. It's an investment different from lower capital
gains taxes, or more funds for space and other high tech, but it is
vital. And I'm referring, of course, to child care. (Applause.)
At Ford Aerospace, officials are responding to changing
demographics and the needs of its employees. By increasing parental
options, Ford's Employee Assistance Program is helping to keep us
competitive. And it is involving community agencies as child care
resource referrals -- like the YMCA Child Care Center in Palo Alto,
approved and supported by the United Way.
Now, I salute this example. And I applaud its emphasis
on choice. There are some congressional child care initiatives --
well-meaning, I am sure -- but which don't reflect this emphasis.
Our new child care initiative -- mine, the one that I've sent up to
the Congress -- does. And our proposal urges a new tax credit to
MORE
- 4 -
make child care more affordable. And it puts money in the hands of
the low-income parents, limits federal intervention and increases
options. A church can help, or grandparents, or professional
nursery. When it comes to child care, we say, let the parents
decide. Keep the family strong. And we must do that. (Applause.)
For in the end, it's decisions we come down to --
decisions to say "yes" to child care, more funds for space and other
high technology. Decisions which serve the entire community --
workers, investors, students, parents. Decisions to invest in
America so that we can create a more competitive America.
As Californians, you know what I'm talking about. You've
always believed in daring, aspiring, and charting unexplored
frontiers. And you look ahead, not back. And you know that nothing
is impossible. And by giving of yourselves and to your country, you
give lift to the American Dream.
Thank you for that. Thank you for a fascinating day in
the laboratories here. Thank you for your kindness and your
generosity. God bless you and God bless the United States of
America. Thank you all very much. (Appla use.)
END
9:43 A.M. PDT
2856
THE WHITE HOUSE
WASHINGTON
K6
April 20, 1989
MEMORANDUM FOR CHRISS WINSTON
for file
FROM:
BRENT SCOWCROFT Rgfor
SUBJECT:
Presidential Remarks: Ford Aerospace,
Palo Alto, California, April 25
The draft speech to Ford Aerospace misses the mark. A certain
amount of boosterism is appropriate, but not at the expense of
all substance.
There is strong concern throughout the U.S. and particularly in
California about the loss of our competitive edge in the high
technology field and in products for the future. The message
should be the need for the U.S. to work harder to retain our
technological leadership, the pivotal role of the private sector
in that effort, and the equally essential role of the federal
government in giving entrepreneurs and investors the right
signals. That message does not come through in the present
draft. The President will miss a good opportunity to talk about
U.S. competitiveness and the need for technology supremacy as
international competition heats up. References to Ford's
Employee Assistance Program and the Administration's child care
initiative also seem out of place and give the speech a laundry
list quality which is unfair to the President and his audience.
There are also several specific problems with the draft:
-- Repeated references to the LA Dodgers and Tommy Lasorda will
probably make a Bay Area audience shake their heads about
the President's grasp of geography. The 49ers were the
Super Bowl champs. Their coach had the reputation for the
kind of careful, thorough advance planning which is key to
success in high tech ventures. Surely, as a sports figure
he is more relevant to a Palo Alto audience.
-- Probably very few people know -- or care -- about the former
head coach at Ohio State. You could paraphrase the Woody
Hayes quote without referring to him personally.
-- On page 5, there is mention of technological prowess and
excellence in certain fields. The U.S. is completely out of
the high definition TV race. It would be better to
substitute a field where we are active and successful, e.g.
biotechnology.
Attachment
Tab A Draft Presidential Speech
CC: James W. Cicconi
028425SS
Document No.
2856
WHITE HOUSE STAFFING MEMORANDUM
DATE:
4/19/89
ACTION/CONCURRENCE/COMMENT DUE BY:
4/20/89 3:00 PM
PRESIDENTIAL REMARKS: FORD AEROSPACE
SUBJECT:
ACTION FYI
ACTION FYI
VICE PRESIDENT
MCCLURE
SUNUNU
NEWMAN
SCOWCROFT
PORTER
DARMAN
STUDDERT
BATES
UNTERMEYER
ROGERS
BREEDEN
CARD
WINSTON
CICCONI
PINKERTON
DEMAREST
BOSKIN
FITZWATER
GRAY
HAGIN
REMARKS:
Please forward any comments to Chriss Winston, Rm. 122,
x2930, no later than 3:00 PM, Thursday, April 20, 1989,
with an info copy to my office. Thank you.
RESPONSE:
James W, Cicconi
Assistant to the President
and Deputy to the Chief of Staff
Ext. 2702
89 APR 20 A 9: 50
1833 APR 10 21:7:A
(Smith/Martin)
April 19, 1989
Draft Four
PALO
PRESIDENTIAL REMARKS: FORD AEROSPACE
PALO ALTO, CALIFORNIA
APRIL 25, 1989
Thank you for that introduction, and for your generous
welcome. It is a pleasure to be in the Bay Area, and among
friends.
You know, I realize I'm taking a chance by quoting him in
Northern California. But it was that noted gourmet, Dodgers
manager Tommy Lasorda, who conceded, "I'm on a sea-food diet. I
eat all the food I can see. "
Tommy's not like most of us: He never met a meal he didn't
like. And if you ask, he'll insist that food ranks among his
most precious investments. It uplifts his performance, mentally
and physically. It enhances his ability to compete and,
indirectly, to keep the Dodgers No. 1.
I'm sure you've all heard the old saying, "Never invest
your money in anything that eats or needs repainting."
Well, today, I want to talk about a different kind of
investment. Investments which prize the new horizons of
-2-
America's technological future. Investments which can create new
jobs, unlock new markets, and unleash new technologies.
Investments, in short, which will make us more competitive and
keep America No. 1.
In a sense, this attitude is typically American. For we
are, at heart, a competitive people. We measure life by today's
Dow Jones average [LOOK AT WATCH]
11 a.m., up points.
Or by how our ball club did last night
A's, 4-1
Angels, 4-3
Dodgers, beaten 8-5
Sorry, Tommy.
As Americans, we expect short-term results. And,
historically, we get them. Government's role is to harness
America's ambition -- to make us more competitive -- by pointing
toward the twenty-first-century, ensuring long-term results.
That is why our Administration is investing in the future
by slashing the Federal deficit. For every dollar of interest
debt we eliminate means more capital available for investment.
Recently, I unveiled a bipartisan budget agreement with
Congress to reduce the deficit. Our accord will narrow it to
$99.4 billion in the fiscal year that begins October 1. That's
far below the $165 billion estimated for the current fiscal
year.
-3-
Now, this plan's an outline -- tough talks still lie ahead.
And we will resume consultations soon on a plan aimed at
balancing the budget by 1993.
Think of deficit reduction as exercise, like walking the dog
every day
believe me, I know
ask the Silver Fox.
Exercise keeps you at the top of your game. And so will another
investment to build a more competitive America. I refer to
restoring the capital gains differential -- a step which,
according to Treasury estimates, will raise $4.8 billion in new
revenue.
Consider, on the one hand, those countries which cripple
opportunity. They know, first-hand, the damage caused by
excessive taxation on capital gains. Then consider that our
second-largest trading partner, Japan, has taxed them little, if
at all.
The lesson is self-evident: Restoring the capital gains
differential will make America more competitive. Our plan
supports reducing it to 15 per cent on long-held assets. So, let
us act to lift revenue, help savings, and free American
businesses, without distorting world markets.
You know, ordinarily I take statistics with a grain of salt.
I've seen too many political polls go up and down. Perhaps the
late, great Woody Hayes put- it best: "Statistics," he said,
-4-
"always remind me of the fellow who drowned in a river whose
average depth was only three feet."
But one statistic does bear reciting. Since December 1982,
nearly 20 million new jobs have been created in this country.
Through investments to increase competitiveness, we can do still
better.
For instance, we've proposed a permanent extension of the
Research and Experimentation tax credit. America must remain in
the front lines of technological innovation. And we want to
actively increase domestic research by multinationals, and end
the uncertainty of expiring temporary rules.
These steps, and others, can help us walk the unexplored
frontiers of high-technology. For high-tech is potent, precise,
and in the end, unbeatable
Truth is, it sort of reminds a
lot of people of the way I pitch horseshoes [PAUSE]
Would
you believe some of the people? [PAUSE]
Would you believe
Millie and her pups? [PAUSE]
Just asking.
My friends, I want to give the high-five to high-tech. And
I want to do it by investing in competitiveness. That is why I
have asked Congress for an increase of $2.4 bilion for the Space
Program. I want to elevate the status of the President's Science
Advisor. And NASA is moving ahead with Space Station Freedom,
planned for operation by the mid-1990s.
-5-
But we can't stop there -- our future won't allow it. So,
let us also invest in the Superconducting Super Collider -- a
bold new experiment fusing science, technology, and education.
Because science is SO critical, let us double the National
Science Foundation budget by 1993. And let
us
use
America's
technological prowess to expand free and fair trade. I'm talking
about excellence in such fields as microcomputers,
superconductivity, high-definition TV, and, yes, aerospace.
In aerospace, my friends, Ford does "have a better idea."
It's called the Superbird satellite, and its technology is
American. It is the largest -- 2,640 pounds -- and most powerful
communications satellite yet developed
2,640 pounds?
That's even bigger than the 49ers' offensive line. And it was
built in record time
right here.
by you.
Superbird is among the most competitive spacecraft for
customers who want affordable high-powered communications
satellites. And it will provide regular and cable television
access, telephone lines, newspaper transmission, and other
telecommunications services. Best of all, Superbird is just a
preview of the next generation of satellites. In the twenty-
first-century, they will keep America No. 1.
-6-
You know, that-proclaimed philosopher, Satchel Paige, was
once asked the secret of his competitiveness. "Don't look back,"
he replied. "Somebody might be gaining on you. "
Satchel Paige, like Ford Aerospace, knew that as Americans
we look ahead, not back. Always have. And must, now, more than
ever. For the coming decade will see, and shape, a rapidly
changing workforce. To invest its talents will be our challenge
as a Nation.
According to the National Science Foundation, for instance,
by the year 2000 the college-age population will have shrunk
almost 20 per cent. Among college-age youth, minorities will
comprise 1/3. And women, minorities, and immigrants will total
almost 2/3 of new entrants to the labor force.
These facts demand a new investment to build a more
competitive America. It's an investment different from, but
equally important as, lower capital gains taxes, more funds for
space, and other high-technology. I'm referring, of course, to
child care.
At Ford Aerospace, officials are responding to changing
demographics and the needs of its employees. By increasing
parental options, Ford's Employee Assistance Program is helping
to keep us competitive. And it is involving community agencies
-7-
as child-care resource referrals. Like the YMCA Child Care
Center in Palo Alto, approved and supported by the United Way.
I salute your example. And I applaud its emphasis on
choice. Our new child care initiative reflects that emphasis.
For it proposes a new tax credit to make child care more
affordable. Our proposal puts money in the hands of low-income
parents, limits Federal intervention, and increases options. A
church can help, or grandparents, or professional nursery. When
it comes to child care, we say: "Let the parents decide."
For in the end, my friends, it's decisions we come down to.
Decisions to say "Yes" to child care, more funds for space, and
other high-technology. Decisions which serve the entire
community: Workers, investors, students, parents. Decisions to
invest in America so that we can create a more competitive
America.
As Californians, you know what I'm talking about. For you
believe in daring, aspiring, and charting unexplored frontiers.
You look ahead, not back. You know that nothing is
impossible. And by giving of yourselves, and to your country,
you give lift to the American Dream.
Thank you for that, and for your kindness and generosity.
God bless you, and God bless America.
# # # #
FINAL AFTER GB CHANGES
(Smith/Martin)
April 19, 1989
Draft Four
PALO
PRESIDENTIAL REMARKS: FORD AEROSPACE
PALO ALTO, CALIFORNIA
APRIL 25, 1989
Thank you for that introduction, and for your generous
welcome. It is a pleasure to be in the Bay Area, and among
friends.
You know, I realize I'm taking a chance by quoting him in
Northern California. But it was that noted gourmet, Dodgers
manager Tommy Lasorda, who conceded, "I'm on a sea-food diet. I
eat all the food I can see."
Tommy's not like most of us: He never met a meal he didn't
like. And if you ask, he'll insist that food ranks among his
most precious investments. It uplifts his performance, mentally
and physically. It enhances his ability to compete and,
indirectly, to keep the Dodgers No. 1.
I'm sure you've all heard the old saying, "Never invest
your money in anything that eats or needs repainting."
Well, today, I want to talk about a different kind of
investment. Investments which prize the new horizons of
2
America's technological future. Investments which can create new
jobs, unlock new markets, and unleash new technologies.
Investments, in short, which will make us more competitive and
keep America No. 1.
In a sense, this attitude is typically American. For we
are, at heart, a competitive people. We measure life by today's
Dow Jones average [LOOK AT WATCH]
...
9:30 a.m., up
points.
Or by how our ball club did most recently
A's
,
Angels
,
Giants
, Dodgers
Sorry,
Tommy.
As Americans, we expect short-term results. And,
historically, we get them. Government's role is to unleash
America's ambition -- to make us more competitive -- by pointing
toward the 21st Century, ensuring long-term results.
The best investment in the future is to slash the Federal
deficit. Every dollar the government does not borrow means more
capital available for investment.
Recently, I unveiled an important bipartisan budget
agreement with Congress to reduce the deficit. Our accord will
narrow it to $99.4 billion in the fiscal year that begins October
1. That's far below the $163 billion estimated for the current
fiscal year.
3
Now, this plan's an agreed outline -- tough talks still lie
ahead. And we will resume consultations soon on a plan aimed at
balancing the budget by 1993.
Think of deficit reduction as exercise, like walking the dog
every day
believe me, I know. Exercise keeps you at the
top of your game. And so will another investment to build a more
competitive America -- one of many I'll be asking the Congress to
make. I refer to restoring the capital gains differential -- a
step which, according to Treasury estimates, will raise $4.8
billion in new revenue.
My friends, I've heard, as you have, the criticism of people
who ridicule cutting the capital gains tax as somehow a "tax
break" for the rich. Well, they couldn't be more wrong. Lower
capital gains taxes will create jobs for those who don't have
jobs, and help build a better America.
Consider, on the one hand, those countries which cripple
opportunity. They know, first-hand, the damage caused by
excessive taxation on capital gains. Then consider that our
second-largest trading partner, Japan, has taxed them little, if
at all.
4
The lesson is self-evident: Restoring the capital gains
differential will make America more competitive. Our plan
supports reducing it to 15 per cent on long-held assets. So, let
act to lift revenue, help savings, and free American businesses,
without distorting world markets.
You know, ordinarily I take statistics with a grain of salt.
I've seen too many political polls go up and down. Perhaps the
late, great Woody Hayes put it best: "Statistics," he said,
"always remind me of the fellow who drowned in a river whose
average depth was only three feet."
But one statistic does bear reciting. Since November 1982,
nearly 20 million new jobs have been created in this country.
Many have been created right here in Silicon Valley. Well,
through investments to increase competitiveness, we can do still
better.
For instance, we've proposed a permanent extension of the
Research and Experimentation tax credit. America must remain in
the front lines of technological innovation. And we want to
actively increase domestic research by multinationals, and end
the uncertainty of expiring temporary rules.
These steps, and others, can help us walk the unexplored
frontiers of high-technology. For high-tech is potent, precise,
5
and in the end, unbeatable
(( Truth is, it sort of reminds
a lot of people of the way I pitch horseshoes [PAUSE]
Would
you believe some of the people? [PAUSE]
Would you believe
Millie and her pups? [PAUSE]
Just asking. ) )
My friends, I want to give the high-five to high-tech. And
I want to do it by investing in competitiveness.
That is why I have asked Congress for an increase of $2.4
billion for NASA as it moves ahead with Space Station Freedom,
planned for operation by the mid-1990s. And, I want to elevate
the status of the President's Science Advisor. I have also just
reestablished the National Space Council headed by Vice-President
Quayle to coordinate our future space efforts.
But we can't stop there -- our future won't allow it. So,
let us also invest in the Superconducting Super Collider -- a
bold new experiment fusing science, technology, and education.
Because science is so critical, let us double the National
Science Foundation budget by 1993. And let us use America's
technological prowess to expand free and fair trade. I'm talking
about excellence in such fields as microcomputers,
superconductivity, and, yes, aerospace.
In aerospace, we can point with pride to satellites whose
technology is American. Satellites like the Superbird satellite
6
-- among the largest -- 5,500 pounds -- and most powerful
commercial communications satellite yet developed
5,500
pounds? That's even bigger than the 49ers' offensive line.
Today, American satellites are among the most competitive
spacecraft for customers who want affordable high-powered
communications satellites. And they are providing regular and
cable television access, telephone lines, newspaper transmission,
and other telecommunications services. Best of all, they are
just a preview of the next generation of satellites. In the 21st
Century, they will keep America No. 1.
You know, that-proclaimed philosopher, Satchel Paige, was
once asked the secret of his competitiveness. "Don't look back,"
he replied. "Somebody might be gaining on you. "
Satchel Paige, like high-technology, knew that as Americans
we look ahead, not back. Always have. And must, now, more than
ever. For the coming decade will see, and shape, a rapidly
changing workforce. To invest its talents will be our challenge
as a Nation.
According to the National Science Foundation, for instance,
by the year 2000 the college-age population will have shrunk
almost 20 per cent. Among college-age youth, minorities will
7
comprise 1/3. And women, minorities, and immigrants will total
almost 2/3 of new entrants to the labor force.
These facts demand a new investment to build a more
competitive America. It's an investment different from lower
capital gains taxes, more funds for space, and other high-
technology, but it is vital. I'm referring, of course, to child
care.
At Ford Aerospace, officials are responding to changing
demographics and the needs of its employees. By increasing
parental options, Ford's Employee Assistance Program is helping
to keep us competitive. And it is involving community agencies
as child-care resource referrals. Like the YMCA Child Care
Center in Palo Alto, approved and supported by the United Way.
I salute your example. And I applaud its emphasis on
choice. Now, there are some Congressional child care initiatives
-- well-meaning initiatives -- but which don't reflect this
emphasis. Our new child care initiative does. Our proposal
urges a new tax credit to make child care more affordable. And
it puts money in the hands of low-income parents, limits Federal
intervention, and increases options. A church can help, or
grandparents, or professional nursery. When it comes to child
care, we say: "Let the parents decide."
8
For in the end, my friends, it's decisions we come down to.
Decisions to say "Yes" to child care, more funds for space, and
other high-technology. Decisions which serve the entire
community: Workers, investors, students, parents. Decisions to
invest in America so that we can create a more competitive
America.
As Californians, you know what I'm talking about.
And you
understand what the writer Lincoln Steffens meant when he said,
"I have seen the future and it works.
"
For you believe in daring, aspiring, and charting unexplored
frontiers. You look ahead, not back. You know that nothing is
impossible. And by giving of yourselves, and to your country,
you give lift to the American Dream.
Thank you for that, and for your kindness and generosity.
God bless you, and God bless America.
#
#
#
#
THE WHITE HOUSE
WASHINGTON
April 20, 1989
MEMORANDUM FOR CHRISS WINSTON
FROM:
ROGER B. PORTER
RBP
SUBJECT:
Presidential Remarks: Ford Aerospace
The speech properly emphasizes the President's desire to
invest in the future.
We do recommend several suggestions which we believe
will strengthen the remarks. In the second full paragraph on
page two stating that "Government's role is to harness
America's ambition" may send the wrong message relative to
government involvement in the economy. Frankly, we do not
want the government to "harness" the economy.
Second paragraph on page three "according to Treasury
estimates, will raise $4.8 billion in new revenue". Since we
are emphasizing the capital gains tax cut as a method to
encourage investment, we suggest deleting the specific
Treasury estimate of new revenues.
In the last paragraph on page four "That is why I have
asked Congress for an increase of $2.4 billion for the Space
Program.' Actually, the President has asked for an increase
of $2.4 billion in NASA's budget. The Federal "space program"
includes programs at the Dept.'s of Commerce and
Transportation as well as NASA.
On page seven, between the second and third full
paragraphs, we suggest adding the following approved langauage
used in the campaign and in Building A Better America.
"Technological advancement has always been at the very heart
of our nation's pioneer spirit, pushing the boundaries of our
knowledge, creating economic opportunity, and increasing our
standard of living."
If you have any questions or I can help in any way,
please let me know.
CC: James W. Cicconi
028425SS
Document No.
WHITE HOUSE STAFFING MEMORANDUM
DATE:
4/19/89
ACTION/CONCURRENCE/COMMENT DUE BY:
4/20/89 3:00 PM
PRESIDENTIAL REMARKS: FORD AEROSPACE
SUBJECT:
ACTION FYI
ACTION FYI
VICE PRESIDENT
MCCLURE
SUNUNU
NEWMAN
SCOWCROFT
PORTER
DARMAN
STUDDERT
BATES
UNTERMEYER
ROGERS
BREEDEN
CARD
WINSTON
CICCONI
PINKERTON
DEMAREST
BOSKIN
FITZWATER
GRAY
HAGIN
REMARKS:
Please forward any comments to Chriss Winston, Rm. 122,
x2930, no later than 3:00 PM, Thursday, April 20, 1989,
with an info copy to my office. Thank you.
RESPONSE:
James W. Cicconi
Assistant to the President
and Deputy to the Chief of Staff
Ext. 2702
1909 APR 13 711 7:4
(Smith/Martin)
April 19, 1989
Draft Four
PALO
PRESIDENTIAL REMARKS: FORD AEROSPACE
PALO ALTO, CALIFORNIA
APRIL 25, 1989
Thank you for that introduction, and for your generous
welcome. It is a pleasure to be in the Bay Area, and among
friends.
You know, I realize I'm taking a chance by quoting him in
Northern California. But it was that noted gourmet, Dodgers
manager Tommy Lasorda, who conceded, "I'm on a sea-food diet. I
eat all the food I can see."
Tommy's not like most of us: He never met a meal he didn't
like. And if you ask, he'll insist that food ranks among his
most precious investments. It uplifts his performance, mentally
and physically. It enhances his ability to compete and,
indirectly, to keep the Dodgers No. 1.
I'm sure you've all heard the old saying, "Never invest
your money in anything that eats or needs repainting."
Well, today, I want to talk about a different kind of
investment. Investments which prize the new horizons of
-2-
America's technological future. Investments which can create new
jobs, unlock new markets, and unleash new technologies.
Investments, in short, which will make us more competitive and
keep America No. 1.
In a sense, this attitude is typically American. For we
are, at heart, a competitive people. We measure life by today's
Dow Jones average [LOOK AT WATCH]
11 a.m. up
points.
Or by how our ball club did last night
A's, 4-1
Angels, 4-3
Dodgers, beaten 8-5
Sorry, Tommy.
As Americans, we expect short-term results.
AMERICA'S AMBITION will And, MAKE us MORE
historically, we get them. Government's role is to harness
America's ambition to make us more competitive -- by pointing
toward the twenty-first-century, ensuring long-term results.
That is why our Administration is investing in the future
by slashing the Federal deficit. For every dollar of interest
debt we eliminate means more capital available for investment.
Recently, I unveiled a bipartisan budget agreement with
Congress to reduce the deficit. Our accord will narrow it to
$99.4 billion in the fiscal year that begins October 1. That's
far below the $165 billion estimated for the current fiscal
year.
-3-
Now, this plan's an outline -- tough talks still lie ahead.
And we will resume consultations soon on a plan aimed at
balancing the budget by 1993.
Think of deficit reduction as exercise, like walking the dog
every day
believe me, I know
ask the Silver Fox.
Exercise keeps you at the top of your game. And so will another
investment to build a more competitive America. I refer to
restoring the capital gains differential -- a step which,
according to Treasury estimates, will raise
$4.8 billion
in new
revenue.
Consider, on the one hand, those countries which cripple
opportunity. They know, first-hand, the damage caused by
excessive taxation on capital gains. Then consider that our
second-largest trading partner, Japan, has taxed them little, if
at all.
The lesson is self-evident: Restoring the capital gains
differential will make America more competitive. Our plan
supports reducing it to 15 per cent on long-held assets. So, let
us act to lift revenue, help savings, and free American
businesses, without distorting world markets.
You know, ordinarily I take statistics with a grain of salt.
I've seen too many political polls go up and down. Perhaps the
late, great Woody Hayes put it best: "Statistics," he said,
-4-
"always remind me of the fellow who drowned in a river whose
average depth was only three feet."
But one statistic does bear reciting. Since December 1982,
nearly 20 million new jobs have been created in this country.
Through investments to increase competitiveness, we can do still
better.
For instance, we've proposed a permanent extension of the
Research and Experimentation tax credit. America must remain in
the front lines of technological innovation. And we want to
actively increase domestic research by multinationals, and end
the uncertainty of expiring temporary rules.
These steps, and others, can help us walk the unexplored
frontiers of high-technology. For high-tech is potent, precise,
and in the end, unbeatable
Truth is, it sort of reminds a
lot of people of the way I pitch horseshoes [PAUSE]
Would
you believe some of the people? [PAUSE]
Would you believe
Millie and her pups? [PAUSE]
Just asking.
My friends, I want to give the high-five to high-tech. And
I want to do it by investing in competitiveness. That is why I
have asked Congress for an increase of $2.4 bilion for the Space
IN NASAS budget.
Program. I want to elevate the status of the President's Science
Advisor. And NASA is moving ahead with Space Station Freedom,
planned for operation by the mid-1990s.
-5-
But we can't stop there -- our future won't allow it. So,
let us also invest in the Superconducting Super Collider -- a
bold new experiment fusing science, technology, and education.
Because science is so critical, let us double the National
Science Foundation budget by 1993. And let us use America's
technological prowess to expand free and fair trade. I'm talking
about excellence in such fields as microcomputers,
superconductivity, high-definition TV, and, yes, aerospace.
In aerospace, my friends, Ford does "have a better idea."
It's called the Superbird satellite, and its technology is
American. It is the largest -- 2,640 pounds -- and most powerful
communications satellite yet developed
2,640 pounds?
That's even bigger than the 49ers' offensive line. And it was
built in record time
right here.
by you.
Superbird is among the most competitive spacecraft for
customers who want affordable high-powered communications
satellites. And it will provide regular and cable television
access, telephone lines, newspaper transmission, and other
telecommunications services. Best of all, Superbird is just a
preview of the next generation of satellites. In the twenty-
first-century, they will keep America No. 1.
-6-
You know, that-proclaimed philosopher, Satchel Paige, was
once asked the secret of his competitiveness. "Don't look back,"
he replied. "Somebody might be gaining on you."
Satchel Paige, like Ford Aerospace, knew that as Americans
we look ahead, not back. Always have. And must, now, more than
ever. For the coming decade will see, and shape, a rapidly
changing workforce. To invest its talents will be our challenge
as a Nation.
According to the National Science Foundation, for instance,
by the year 2000 the college-age population will have shrunk
almost 20 per cent. Among college-age youth, minorities will
comprise 1/3. And women, minorities, and immigrants will total
almost 2/3 of new entrants to the labor force.
These facts demand a new investment to build a more
competitive America. It's an investment different from, but
equally important as, lower capital gains taxes, more funds for
space, and other high-technology. I'm referring, of course, to
child care.
At Ford Aerospace, officials are responding to changing
demographics and the needs of its employees. By increasing
parental options, Ford's Employee Assistance Program is helping
to keep us competitive. And it is involving community agencies
-7-
as child-care resource referrals. Like the YMCA Child Care
Center in Palo Alto, approved and supported by the United Way.
I salute your example. And I applaud its emphasis on
choice. Our new child care initiative reflects that emphasis.
For it proposes a new tax credit to make child care more
affordable. Our proposal puts money in the hands of low-income
parents, limits Federal intervention, and increases options. A
church can help, or grandparents, or professional nursery. When
it comes to child care, we say: "Let the parents decide."
For in the end, my friends, it's decisions we come down to.
Decisions to say "Yes" to child care, more funds for space, and
other high-technology. Decisions which serve the entire
community: Workers, investors, students, parents. Decisions to
invest in America so that we can create a more competitive
America.
# ADD CANGUAGE
As Californians, you know what I'm talking about. For you
believe in daring, aspiring, and charting unexplored frontiers.
You look ahead, not back. You know that nothing is
impossible. And by giving of yourselves, and to your country,
you give lift to the American Dream.
Thank you for that, and for your kindness and generosity.
God bless you, and God bless America.
# # # #
1930 ACR 20
P.:
REMARKS: FORD AEROSPACE
PALO ALTO, CALIFORNIA
APRIL 25, 1989/9:30 AM
THANK YOU FOR THAT INTRODUCTION, AND FOR YOUR
GENEROUS WELCOME. IT IS A PLEASURE TO BE IN THE BAY
AREA, AND AMONG FRIENDS.
You KNOW, I REALIZE I'M TAKING A CHANCE BY QUOTING
HIM IN NORTHERN CALIFORNIA.
- 2 -
BUT IT WAS THAT NOTED GOURMET, DODGERS MANAGER TOMMY
LASORDA, WHO CONCEDED, "I'm ON A SEA-FOOD DIET. I EAT
ALL THE FOOD I CAN SEE."
TOMMY'S NOT LIKE MOST OF US: HE NEVER MET A MEAL
HE DIDN'T LIKE. AND IF YOU ASK, HE'LL INSIST THAT FOOD
RANKS AMONG HIS MOST PRECIOUS INVESTMENTS. IT UPLIFTS
HIS PERFORMANCE, MENTALLY AND PHYSICALLY. IT ENHANCES
HIS ABILITY TO COMPETE AND, INDIRECTLY, TO KEEP THE
DODGERS No. 1.
- 3 -
I'M SURE YOU'VE ALL HEARD THE OLD SAYING, "NEVER
INVEST YOUR MONEY IN ANYTHING THAT EATS OR NEEDS
REPAINTING."
WELL, TODAY, I WANT TO TALK ABOUT A DIFFERENT KIND
OF INVESTMENT. INVESTMENTS WHICH PRIZE THE NEW
HORIZONS OF AMERICA'S TECHNOLOGICAL FUTURE.
INVESTMENTS WHICH CAN CREATE NEW JOBS, UNLOCK NEW
MARKETS, AND UNLEASH NEW TECHNOLOGIES.
- 4 -
INVESTMENTS, IN SHORT, WHICH WILL MAKE US MORE
COMPETITIVE AND KEEP AMERICA No. 1.
IN A SENSE, THIS ATTITUDE IS TYPICALLY AMERICAN.
FOR WE ARE, AT HEART, A COMPETITIVE PEOPLE. WE MEASURE
LIFE BY TODAY'S Dow JONES AVERAGE [LOOK AT WATCH]
...
9:30 A.M., UP
POINTS. OR BY HOW OUR BALL CLUB DID
MOST RECENTLY
[CA's
ANGELS
1
,
...
GIANTS
I DODGERS
SORRY, TOMMY.]]
- 5 -
As AMERICANS, WE EXPECT SHORT-TERM RESULTS. AND,
HISTORICALLY, WE GET THEM. GOVERNMENT'S ROLE IS TO
UNLEASH AMERICA'S AMBITION -- TO MAKE US MORE
COMPETITIVE -- BY POINTING TOWARD THE 21st CENTURY,
ENSURING LONG-TERM RESULTS.
THE BEST INVESTMENT IN THE FUTURE IS TO SLASH THE
FEDERAL DEFICIT. EVERY DOLLAR THE GOVERNMENT DOES NOT
BORROW MEANS MORE CAPITAL AVAILABLE FOR INVESTMENT.
- 6 -
RECENTLY, I UNVEILED AN IMPORTANT BIPARTISAN BUDGET
AGREEMENT WITH CONGRESS TO REDUCE THE DEFICIT. OUR
ACCORD WILL NARROW IT To $99.4 BILLION IN THE FISCAL
YEAR THAT BEGINS OCTOBER 1. THAT'S FAR BELOW THE $163
BILLION ESTIMATED FOR THE CURRENT FISCAL YEAR.
Now, THIS PLAN'S AN AGREED OUTLINE -- TOUGH TALKS
STILL LIE AHEAD. AND WE WILL RESUME CONSULTATIONS SOON
ON A PLAN AIMED AT BALANCING THE BUDGET BY 1993.
- 7 -
THINK OF DEFICIT REDUCTION AS EXERCISE, LIKE
WALKING THE DOG EVERY DAY
BELIEVE ME, I KNOW.
EXERCISE KEEPS YOU AT THE TOP OF YOUR GAME. AND so
WILL ANOTHER INVESTMENT TO BUILD A MORE COMPETITIVE
AMERICA -- ONE OF MANY I'LL BE ASKING THE CONGRESS TO
MAKE. I REFER TO RESTORING THE CAPITAL GAINS
DIFFERENTIAL -- A STEP WHICH, ACCORDING TO TREASURY
ESTIMATES, WILL RAISE $4.8 BILLION IN NEW REVENUE.
- 8 or
MY FRIENDS, I'VE HEARD, AS YOU HAVE, THE CRITICISM
OF PEOPLE WHO RIDICULE CUTTING THE CAPITAL GAINS TAX AS
SOMEHOW A "TAX BREAK" FOR THE RICH. WELL, THEY
COULDN'T BE MORE WRONG. LOWER CAPITAL GAINS TAXES WILL
CREATE JOBS FOR THOSE WHO DON'T HAVE JOBS, AND HELP
BUILD A BETTER AMERICA.
CONSIDER, ON THE ONE HAND, THOSE COUNTRIES WHICH
CRIPPLE OPPORTUNITY. THEY KNOW, FIRST-HAND, THE DAMAGE
CAUSED BY EXCESSIVE TAXATION ON CAPITAL GAINS.
- 9 -
THEN CONSIDER THAT OUR SECOND-LARGEST TRADING PARTNER,
JAPAN, HAS TAXED THEM LITTLE, IF AT ALL.
THE LESSON IS SELF-EVIDENT: RESTORING THE CAPITAL
GAINS DIFFERENTIAL WILL MAKE AMERICA MORE COMPETITIVE.
OUR PLAN SUPPORTS REDUCING IT TO 15 PER CENT ON LONG-
HELD ASSETS. So, LET US ACT TO LIFT REVENUE, HELP
SAVINGS, AND FREE AMERICAN BUSINESSES, WITHOUT
DISTORTING WORLD MARKETS.
- 10 -
You KNOW, ORDINARILY I TAKE STATISTICS WITH A GRAIN
OF SALT. I'VE SEEN TOO MANY POLITICAL POLLS GO UP AND
DOWN. PERHAPS THE LATE, GREAT WOODY HAYES PUT IT BEST:
"STATISTICS," HE SAID, "ALWAYS REMIND ME OF THE FELLOW
WHO DROWNED IN A RIVER WHOSE AVERAGE DEPTH WAS ONLY
THREE FEET."
BUT ONE STATISTIC DOES BEAR RECITING. SINCE
NOVEMBER 1982, NEARLY 20 MILLION NEW JOBS HAVE BEEN
CREATED IN THIS COUNTRY.
- 11 -
MANY HAVE BEEN CREATED RIGHT HERE IN SILICON VALLEY.
WELL, THROUGH INVESTMENTS TO INCREASE COMPETITIVENESS,
WE CAN DO STILL BETTER.
FOR INSTANCE, WE'VE PROPOSED A PERMANENT EXTENSION
OF THE RESEARCH AND EXPERIMENTATION TAX CREDIT.
AMERICA MUST REMAIN IN THE FRONT LINES OF TECHNOLOGICAL
INNOVATION. AND WE WANT TO ACTIVELY INCREASE DOMESTIC
RESEARCH BY MULTINATIONALS, AND END THE UNCERTAINTY OF
EXPIRING TEMPORARY RULES.
- 12 -
THESE STEPS, AND OTHERS, CAN HELP US WALK THE
UNEXPLORED FRONTIERS OF HIGH-TECHNOLOGY. FOR HIGH-TECH
IS POTENT, PRECISE, AND IN THE END, UNBEATABLE
((
TRUTH IS, IT SORT OF REMINDS A LOT OF PEOPLE OF THE WAY
I PITCH HORSESHOES [PAUSE]
...
WOULD YOU BELIEVE SOME
OF THE PEOPLE? [PAUSE]
WOULD YOU BELIEVE MILLIE
AND HER PUPS? [PAUSE]
JUST ASKING.))
- 13 -
MY FRIENDS, I WANT TO GIVE THE HIGH-FIVE TO HIGH-
TECH. AND I WANT TO DO IT BY INVESTING IN
COMPETITIVENESS.
THAT IS WHY I HAVE ASKED CONGRESS FOR AN INCREASE
OF $2.4 BILLION FOR NASA AS IT MOVES AHEAD WITH SPACE
STATION FREEDOM, PLANNED FOR OPERATION BY THE MID-
1990s. AND, I WANT TO ELEVATE THE STATUS OF THE
PRESIDENT'S SCIENCE ADVISOR.
- 14 -
I HAVE ALSO JUST REESTABLISHED THE NATIONAL SPACE
COUNCIL HEADED BY VICE-PRESIDENT QUAYLE TO COORDINATE
OUR FUTURE SPACE EFFORTS.
BUT WE CAN'T STOP THERE -- OUR FUTURE WON'T ALLOW
IT. So, LET US ALSO INVEST IN THE SUPERCONDUCTING
SUPER COLLIDER -- A BOLD NEW EXPERIMENT FUSING SCIENCE,
TECHNOLOGY, AND EDUCATION. BECAUSE SCIENCE IS so
CRITICAL, LET US DOUBLE THE NATIONAL SCIENCE FOUNDATION
BUDGET BY 1993.
- 15 -
AND LET US USE AMERICA'S TECHNOLOGICAL PROWESS TO
EXPAND FREE AND FAIR TRADE. I'M TALKING ABOUT
EXCELLENCE IN SUCH FIELDS AS MICROCOMPUTERS,
SUPERCONDUCTIVITY, AND, YES, AEROSPACE.
;
- 16 -
IN AEROSPACE, WE CAN POINT WITH PRIDE TO SATELLITES
WHOSE TECHNOLOGY IS AMERICAN. SATELLITES LIKE THE
SUPERBIRD SATELLITE -- AMONG THE LARGEST -- 5,500
POUNDS -- AND MOST POWERFUL COMMERCIAL COMMUNICATIONS
SATELLITES YET DEVELOPED ... 5,500 POUNDS? THAT'S
EVEN BIGGER THAN THE 49ERS' OFFENSIVE LINE.
TODAY, AMERICAN SATELLITES ARE AMONG THE MOST
COMPETITIVE SPACECRAFT FOR CUSTOMERS WHO WANT
AFFORDABLE HIGH-POWERED COMMUNICATIONS SATELLITES.
- 17 -
AND THEY ARE PROVIDING REGULAR AND CABLE TELEVISION
ACCESS, TELEPHONE LINES, NEWSPAPER TRANSMISSION, AND
OTHER TELECOMMUNICATIONS SERVICES. BEST OF ALL, THEY
ARE JUST A PREVIEW OF THE NEXT GENERATION OF
SATELLITES. IN THE 21st CENTURY, THEY WILL KEEP
AMERICA No. 1.
- 18 -
You KNOW, THAT-PROCLAIMED PHILOSOPHER, SATCHEL
PAIGE, WAS ONCE ASKED THE SECRET OF HIS
COMPETITIVENESS. "Don't LOOK BACK," HE REPLIED.
"SOMEBODY MIGHT BE GAINING ON YOU."
SATCHEL PAIGE, LIKE HIGH-TECHNOLOGY, KNEW THAT AS
AMERICANS WE LOOK AHEAD, NOT BACK. ALWAYS HAVE. AND
MUST, NOW, MORE THAN EVER. FOR THE COMING DECADE WILL
SEE, AND SHAPE, A RAPIDLY CHANGING WORKFORCE. To INVEST
ITS TALENTS WILL BE OUR CHALLENGE AS A NATION.
- 19 -
ACCORDING TO THE NATIONAL SCIENCE FOUNDATION, FOR
INSTANCE, BY THE YEAR 2000 THE COLLEGE-AGE POPULATION
WILL HAVE SHRUNK ALMOST 20 PER CENT. AMONG COLLEGE-AGE
YOUTH, MINORITIES WILL COMPRISE 1/3. AND WOMEN,
MINORITIES, AND IMMIGRANTS WILL TOTAL ALMOST 2/3 OF NEW
ENTRANTS TO THE LABOR FORCE.
THESE FACTS DEMAND A NEW INVESTMENT To BUILD A MORE
COMPETITIVE AMERICA.
- 20 -
It's AN INVESTMENT DIFFERENT FROM LOWER CAPITAL GAINS
TAXES, MORE FUNDS FOR SPACE, AND OTHER HIGH-TECHNOLOGY,
BUT IT IS VITAL. I'M REFERRING, OF COURSE, To CHILD
CARE.
AT FORD AEROSPACE, OFFICIALS ARE RESPONDING TO
CHANGING DEMOGRAPHICS AND THE NEEDS OF ITS EMPLOYEES.
BY INCREASING PARENTAL OPTIONS, FORD'S EMPLOYEE
ASSISTANCE PROGRAM IS HELPING TO KEEP US COMPETITIVE.
- 21 -
AND IT IS INVOLVING COMMUNITY AGENCIES AS CHILD-CARE
RESOURCE REFERRALS. LIKE THE YMCA CHILD CARE CENTER IN
PALO ALTO, APPROVED AND SUPPORTED BY THE UNITED WAY.
I SALUTE YOUR EXAMPLE. AND I APPLAUD ITS EMPHASIS
ON CHOICE. Now, THERE ARE SOME CONGRESSIONAL CHILD
CARE INITIATIVES -- WELL-MEANING INITIATIVES -- BUT
WHICH DON'T REFLECT THIS EMPHASIS. OUR NEW CHILD CARE
INITIATIVE DOES. OUR PROPOSAL URGES A NEW TAX CREDIT
TO MAKE CHILD CARE MORE AFFORDABLE.
- 22 -
AND IT PUTS MONEY IN THE HANDS OF LOW-INCOME PARENTS,
LIMITS FEDERAL INTERVENTION, AND INCREASES OPTIONS. A
CHURCH CAN HELP, OR GRANDPARENTS, OR PROFESSIONAL
NURSERY. WHEN IT COMES TO CHILD CARE, WE SAY: "LET
THE PARENTS DECIDE."
FOR IN THE END, MY FRIENDS, IT'S DECISIONS WE COME
DOWN TO. DECISIONS TO SAY "Yes" TO CHILD CARE, MORE
FUNDS FOR SPACE, AND OTHER HIGH-TECHNOLOGY.
- 23 -
DECISIONS WHICH SERVE THE ENTIRE COMMUNITY: WORKERS,
INVESTORS, STUDENTS, PARENTS. DECISIONS TO INVEST IN
AMERICA so THAT WE CAN CREATE A MORE COMPETITIVE
AMERICA.
As CALIFORNIANS, YOU KNOW WHAT I'M TALKING ABOUT.
AND YOU UNDERSTAND WHAT THE WRITER LINCOLN STEFFENS
MEANT WHEN HE SAID, "I HAVE SEEN THE FUTURE AND IT
WORKS."
- 24 -
FOR YOU BELIEVE IN DARING, ASPIRING, AND CHARTING
UNEXPLORED FRONTIERS. You LOOK AHEAD, NOT BACK. You
KNOW THAT NOTHING IS IMPOSSIBLE. AND BY GIVING OF
YOURSELVES, AND TO YOUR COUNTRY, YOU GIVE LIFT TO THE
AMERICAN DREAM.
THANK YOU FOR THAT, AND FOR YOUR KINDNESS AND
GENEROSITY. GOD BLESS YOU, AND GOD BLESS AMERICA.
# # # #
FINAL
(Smith/Martin)
April 24, 1989
Draft Six
PALO
PRESIDENTIAL REMARKS: FORD AEROSPACE
PALO ALTO, CALIFORNIA
APRIL 25, 1989/9:30 AM
Thank you for that introduction, and for your generous
welcome. It is a pleasure to be in the Bay Area, and among
friends.
You know, I realize I'm taking a chance by quoting him in
Northern California. But it was that noted gourmet, Dodgers
manager Tommy Lasorda, who conceded, "I'm on a sea-food diet. I
eat all the food I can see. "
Tommy's not like most of us: He never met a meal he didn't
like. And if you ask, he'll insist that food ranks among his
most precious investments. It uplifts his performance, mentally
and physically. It enhances his ability to compete and,
indirectly, to keep the Dodgers No. 1.
I'm sure you've all heard the old saying, "Never invest
your money in anything that eats or needs repainting."
Well, today, I want to talk about a different kind of
investment. Investments which prize the new horizons of
2
America's technological future. Investments which can create new
jobs, unlock new markets, and unleash new technologies.
Investments, in short, which will make us more competitive and
keep America No. 1.
In a sense, this attitude is typically American. For we
are, at heart, a competitive people. We measure life by today's
Dow Jones average [LOOK AT WATCH]
9:30 a.m., up
points.
Or by how our ball club did most recently
[[ A's
...
Dodgers 7, Giants 6.
Sorry, folks. ]]
As Americans, we expect short-term results. And,
historically, we get them. Government's role is to unleash
America's ambition -- to make us more competitive -- by pointing
toward the 21st Century, ensuring long-term results.
The best investment in the future is to slash the Federal
deficit. Every dollar the government does not borrow means more
capital available for investment.
Recently, I unveiled an important bipartisan budget
agreement with Congress to reduce the deficit. Our accord will
narrow it to $99.4 billion in the fiscal year that begins October
1. That's far below the $163 billion estimated for the current
fiscal year.
3
Now, this plan's an agreed outline -- tough talks still lie
ahead. And we will resume consultations soon on a plan aimed at
balancing the budget by 1993.
Think of deficit reduction as exercise, like walking the dog
every day
believe me, I know. Exercise keeps you at the
top of your game. And so will another investment to build a more
competitive America -- one of many I'll be asking the Congress to
make. I refer to restoring the capital gains differential -- a
step which, according to Treasury estimates, will raise $4.8
billion in new revenue.
My friends, I've heard, as you have, the criticism of people
who ridicule cutting the capital gains tax as somehow a "tax
break" for the rich. Well, they couldn't be more wrong. Lower
capital gains taxes will create jobs for those who don't have
jobs, and help build a better America.
Consider, on the one hand, those countries which cripple
opportunity. They know, first-hand, the damage caused by
excessive taxation on capital gains. Then consider that our
second-largest trading partner, Japan, has taxed them little, if
at all.
The lesson is self-evident: Restoring the capital gains
differential will make America more competitive. Our plan
4
supports reducing it to 15 per cent on long-held assets. So, let
us act to lift revenue, help savings, and free American
businesses, without distorting world markets.
You know, ordinarily I take statistics with a grain of salt.
I've seen too many political polls go up and down. Perhaps the
late, great Woody Hayes put it best: "Statistics," he said,
"always remind me of the fellow who drowned in a river whose
average depth was only three feet."
But one statistic does bear reciting. Since November 1982,
nearly 20 million new jobs have been created in this country.
Many have been created right here in Silicon Valley. Well,
through investments to increase competitiveness, we can do still
better.
For instance, we've proposed a permanent extension of the
Research and Experimentation tax credit. America must remain in
the front lines of technological innovation. And we want to
actively increase domestic research by multinationals, and end
the uncertainty of expiring temporary rules.
These steps, and others, can help us walk the unexplored
frontiers of high-technology. For high-tech is potent, precise,
and in the end, unbeatable
(( Truth is, it sort of reminds
a lot of people of the way I pitch horseshoes [PAUSE]
Would
5
you believe some of the people? [PAUSE]
Would you believe
Millie and her pups? [PAUSE]
Just asking.) )
My friends, I want to give the high-five to high-tech. And
I want to do it by investing in competitiveness.
That is why I have asked Congress for an increase of $2.4
billion for NASA as it moves ahead with Space Station Freedom,
planned for operation by the mid-1990s. And, I want to elevate
the status of the President's Science Advisor. I have also just
reestablished the National Space Council headed by Vice-President
Quayle to coordinate our future space efforts.
But we can't stop there -- our future won't allow it. So,
let us also invest in the Superconducting Super Collider -- a
bold new experiment fusing science, technology, and education.
Because science is so critical, let us double the National
Science Foundation budget by 1993. And let us use America's
technological prowess to expand free and fair trade. I'm talking
about excellence in such fields as microcomputers,
superconductivity, and, yes, aerospace.
In aerospace, we can point with pride to satellites whose
technology is American. Satellites like the Superbird satellite
-- among the largest -- 5,500 pounds -- and most powerful
6
commercial communications satellites yet developed
5,500
pounds? That's even bigger than the 49ers' offensive line.
Today, American satellites are among the most competitive
spacecraft for customers who want affordable high-powered
communications satellites. And they are providing regular and
cable television access, telephone lines, newspaper transmission,
and other telecommunications services. Best of all, they are
just a preview of the next generation of satellites. In the 21st
Century, they will keep America No. 1.
You know, that-proclaimed philosopher, Satchel Paige, was
once asked the secret of his competitiveness. "Don't look back,"
he replied. "Somebody might be gaining on you. "
Satchel Paige, like high-technology, knew that as Americans
we look ahead, not back. Always have. And must, now, more than
ever. For the coming decade will see, and shape, a rapidly
changing workforce. To invest its talents will be our challenge
as a Nation.
According to the National Science Foundation, for instance,
by the year 2000 the college-age population will have shrunk
almost 20 per cent. Among college-age youth, minorities will
comprise 1/3. And women, minorities, and immigrants will total
almost 2/3 of new entrants to the labor force.
7
These facts demand a new investment to build a more
competitive America. It's an investment different from lower
capital gains taxes, more funds for space, and other high-
technology, but it is vital. I'm referring, of course, to child
care.
At Ford Aerospace, officials are responding to changing
demographics and the needs of its employees. By increasing
parental options, Ford's Employee Assistance Program is helping
to keep us competitive. And it is involving community agencies
as child-care resource referrals. Like the YMCA Child Care
Center in Palo Alto, approved and supported by the United Way.
I salute your example. And I applaud its emphasis on
choice. Now, there are some Congressional child care initiatives
-- well-meaning initiatives -- but which don't reflect this
emphasis. Our new child care initiative does. Our proposal
urges a new tax credit to make child care more affordable. And
it puts money in the hands of low-income parents, limits Federal
intervention, and increases options. A church can help, or
grandparents, or professional nursery. When it comes to child
care, we say: "Let the parents decide."
For in the end, my friends, it's decisions we come down to.
Decisions to say "Yes" to child care, more funds for space, and
8
other high-technology. Decisions which serve the entire
community: Workers, investors, students, parents. Decisions to
invest in America so that we can create a more competitive
America.
As Californians, you know what I'm talking about. You have
always believed in daring, aspiring, and charting unexplored
frontiers. You look ahead, not back. You know that nothing is
impossible. And by giving of yourselves, and to your country,
you give lift to the American Dream.
Thank you for that, and for your kindness and generosity.
God bless you, and God bless America.
# # # #
long MR to
REMARKS: FORD AEROSPACE
PALO ALTO, CALIFORNIA
APRIL 25, 1989/9:30 AM
THANK YOU FOR THAT INTRODUCTION, AND FOR YOUR
GENEROUS WELCOME. IT IS A PLEASURE TO BE IN THE BAY
AREA, AND AMONG FRIENDS.
You KNOW, I REALIZE I'M TAKING A CHANCE BY QUOTING
HIM IN NORTHERN CALIFORNIA.
- 2 -
BUT IT WAS THAT NOTED GOURMET, DODGERS MANAGER TOMMY
LASORDA, WHO CONCEDED, "I'm ON A SEA-FOOD DIET. I EAT
ALL THE FOOD I CAN SEE."
TOMMY'S NOT LIKE MOST OF US: HE NEVER MET A MEAL
HE DIDN'T LIKE. AND IF YOU ASK, HE'LL INSIST THAT FOOD
RANKS AMONG HIS MOST PRECIOUS INVESTMENTS. IT UPLIFTS
HIS PERFORMANCE, MENTALLY AND PHYSICALLY. IT ENHANCES
HIS ABILITY TO COMPETE AND, INDIRECTLY, TO KEEP THE
DODGERS No. 1.
- 3 -
I'M SURE YOU'VE ALL HEARD THE OLD SAYING, "NEVER
INVEST YOUR MONEY IN ANYTHING THAT EATS OR NEEDS
REPAINTING."
WELL, TODAY, I WANT TO TALK ABOUT A DIFFERENT KIND
OF INVESTMENT. INVESTMENTS WHICH PRIZE THE NEW
HORIZONS OF AMERICA'S TECHNOLOGICAL FUTURE.
INVESTMENTS WHICH CAN CREATE NEW JOBS, UNLOCK NEW
MARKETS, AND UNLEASH NEW TECHNOLOGIES.
- 4 -
INVESTMENTS, IN SHORT, WHICH WILL MAKE US MORE
COMPETITIVE AND KEEP AMERICA No. 1.
IN A SENSE, THIS ATTITUDE IS TYPICALLY AMERICAN.
FOR WE ARE, AT HEART, A COMPETITIVE PEOPLE. WE MEASURE
LIFE BY TODAY'S Dow JONES AVERAGE [LOOK AT WATCH]
9:30 A.M., UP
POINTS. OR BY HOW OUR BALL CLUB DID
MOST RECENTLY
[[A's
ANGELS
I
,
GIANTS
, DODGERS
SORRY, TOMMY.]]
- 5 -
As AMERICANS, WE EXPECT SHORT-TERM RESULTS. AND,
HISTORICALLY, WE GET THEM. GOVERNMENT'S ROLE IS TO
UNLEASH AMERICA'S AMBITION -- TO MAKE US MORE
COMPETITIVE -- BY POINTING TOWARD THE 21st CENTURY,
ENSURING LONG-TERM RESULTS.
THE BEST INVESTMENT IN THE FUTURE IS TO SLASH THE
FEDERAL DEFICIT. EVERY DOLLAR THE GOVERNMENT DOES NOT
BORROW MEANS MORE CAPITAL AVAILABLE FOR INVESTMENT.
- 6 -
RECENTLY, I UNVEILED AN IMPORTANT BIPARTISAN BUDGET
AGREEMENT WITH CONGRESS TO REDUCE THE DEFICIT. OUR
ACCORD WILL NARROW IT TO $99.4 BILLION IN THE FISCAL
YEAR THAT BEGINS OCTOBER 1. THAT'S FAR BELOW THE $163
BILLION ESTIMATED FOR THE CURRENT FISCAL YEAR.
Now, THIS PLAN'S AN AGREED OUTLINE -- TOUGH TALKS
STILL LIE AHEAD. AND WE WILL RESUME CONSULTATIONS SOON
ON A PLAN AIMED AT BALANCING THE BUDGET BY 1993.
- 7 -
THINK OF DEFICIT REDUCTION AS EXERCISE, LIKE
WALKING THE DOG EVERY DAY . BELIEVE ME, I KNOW.
EXERCISE KEEPS YOU AT THE TOP OF YOUR GAME. AND so
WILL ANOTHER INVESTMENT TO BUILD A MORE COMPETITIVE
AMERICA -- ONE OF MANY I'LL BE ASKING THE CONGRESS TO
MAKE. I REFER TO RESTORING THE CAPITAL GAINS
DIFFERENTIAL -- A STEP WHICH, ACCORDING TO TREASURY
ESTIMATES, WILL RAISE $4.8 BILLION IN NEW REVENUE.
- 8 -
MY FRIENDS, I'VE HEARD, AS YOU HAVE, THE CRITICISM
OF PEOPLE WHO RIDICULE CUTTING THE CAPITAL GAINS TAX AS
SOMEHOW A "TAX BREAK" FOR THE RICH. WELL, THEY
COULDN'T BE MORE WRONG. LOWER CAPITAL GAINS TAXES WILL
CREATE JOBS FOR THOSE WHO DON'T HAVE JOBS, AND HELP
BUILD A BETTER AMERICA.
CONSIDER, ON THE ONE HAND, THOSE COUNTRIES WHICH
CRIPPLE OPPORTUNITY. THEY KNOW, FIRST-HAND, THE DAMAGE
CAUSED BY EXCESSIVE TAXATION ON CAPITAL GAINS.
- 9 -
THEN CONSIDER THAT OUR SECOND-LARGEST TRADING PARTNER,
JAPAN, HAS TAXED THEM LITTLE, IF AT ALL.
THE LESSON IS SELF-EVIDENT: RESTORING THE CAPITAL
GAINS DIFFERENTIAL WILL MAKE AMERICA MORE COMPETITIVE.
OUR PLAN SUPPORTS REDUCING IT TO 15 PER CENT ON LONG-
HELD ASSETS. So, LET US ACT TO LIFT REVENUE, HELP
SAVINGS, AND FREE AMERICAN BUSINESSES, WITHOUT
DISTORTING WORLD MARKETS.
- 10 -
You KNOW, ORDINARILY I TAKE STATISTICS WITH A GRAIN
OF SALT. I'VE SEEN TOO MANY POLITICAL POLLS GO UP AND
DOWN. PERHAPS THE LATE, GREAT WOODY HAYES PUT IT BEST:
"STATISTICS," HE SAID, "ALWAYS REMIND ME OF THE FELLOW
WHO DROWNED IN A RIVER WHOSE AVERAGE DEPTH WAS ONLY
THREE FEET."
BUT ONE STATISTIC DOES BEAR RECITING. SINCE
NOVEMBER 1982, NEARLY 20 MILLION NEW JOBS HAVE BEEN
CREATED IN THIS COUNTRY.
- 11 -
MANY HAVE BEEN CREATED RIGHT HERE IN SILICON VALLEY.
WELL, THROUGH INVESTMENTS TO INCREASE COMPETITIVENESS,
WE CAN DO STILL BETTER.
FOR INSTANCE, WE'VE PROPOSED A PERMANENT EXTENSION
OF THE RESEARCH AND EXPERIMENTATION TAX CREDIT.
AMERICA MUST REMAIN IN THE FRONT LINES OF TECHNOLOGICAL
INNOVATION. AND WE WANT To ACTIVELY INCREASE DOMESTIC
RESEARCH BY MULTINATIONALS, AND END THE UNCERTAINTY OF
EXPIRING TEMPORARY RULES.
- 12 -
THESE STEPS, AND OTHERS, CAN HELP US WALK THE
UNEXPLORED FRONTIERS OF HIGH-TECHNOLOGY. FOR HIGH-TECH
IS POTENT, PRECISE, AND IN THE END, UNBEATABLE
"
TRUTH IS, IT SORT OF REMINDS A LOT OF PEOPLE OF THE WAY
I PITCH HORSESHOES [PAUSE]
WOULD YOU BELIEVE SOME
OF THE PEOPLE? [PAUSE]
WOULD YOU BELIEVE MILLIE
AND HER PUPS? [PAUSE]
JUST ASKING.))
- 13 -
MY FRIENDS, I WANT TO GIVE THE HIGH-FIVE To HIGH-
TECH. AND I WANT TO DO IT BY INVESTING IN
COMPETITIVENESS.
THAT IS WHY I HAVE ASKED CONGRESS FOR AN INCREASE
OF $2.4 BILLION FOR NASA AS IT MOVES AHEAD WITH SPACE
STATION FREEDOM, PLANNED FOR OPERATION BY THE MID-
1990s. AND, I WANT TO ELEVATE THE STATUS OF THE
PRESIDENT'S SCIENCE ADVISOR.
- 14 -
I HAVE ALSO JUST REESTABLISHED THE NATIONAL SPACE
COUNCIL HEADED BY VICE-PRESIDENT QUAYLE TO COORDINATE
OUR FUTURE SPACE EFFORTS.
BUT WE CAN'T STOP THERE -- OUR FUTURE WON'T ALLOW
IT. So, LET US ALSO INVEST IN THE SUPERCONDUCTING
SUPER COLLIDER -- A BOLD NEW EXPERIMENT FUSING SCIENCE,
TECHNOLOGY, AND EDUCATION. BECAUSE SCIENCE IS so
CRITICAL, LET US DOUBLE THE NATIONAL SCIENCE FOUNDATION
BUDGET BY 1993.
- 15 -
AND LET US USE AMERICA'S TECHNOLOGICAL PROWESS TO
EXPAND FREE AND FAIR TRADE. I'M TALKING ABOUT
EXCELLENCE IN SUCH FIELDS AS MICROCOMPUTERS,
SUPERCONDUCTIVITY, AND, YES, AEROSPACE.
- 16 -
IN AEROSPACE, WE CAN POINT WITH PRIDE To SATELLITES
WHOSE TECHNOLOGY IS AMERICAN. SATELLITES LIKE THE
SUPERBIRD SATELLITE -- AMONG THE LARGEST -- 5,500
POUNDS -- AND MOST POWERFUL COMMERCIAL COMMUNICATIONS
SATELLITES YET DEVELOPED
5,500 POUNDS? THAT'S
EVEN BIGGER THAN THE 49ERS' OFFENSIVE LINE.
TODAY, AMERICAN SATELLITES ARE AMONG THE MOST
COMPETITIVE SPACECRAFT FOR CUSTOMERS WHO WANT
AFFORDABLE HIGH-POWERED COMMUNICATIONS SATELLITES.
- 17 -
AND THEY ARE PROVIDING REGULAR AND CABLE TELEVISION
ACCESS, TELEPHONE LINES, NEWSPAPER TRANSMISSION, AND
OTHER TELECOMMUNICATIONS SERVICES. BEST OF ALL, THEY
ARE JUST A PREVIEW OF THE NEXT GENERATION OF
SATELLITES. IN THE 21st CENTURY, THEY WILL KEEP
AMERICA No. 1.
- 18 -
You KNOW, THAT-PROCLAIMED PHILOSOPHER, SATCHEL
PAIGE, WAS ONCE ASKED THE SECRET OF HIS
COMPETITIVENESS. "DON'T LOOK BACK, HE REPLIED.
"SOMEBODY MIGHT BE GAINING ON YOU."
SATCHEL PAIGE, LIKE HIGH-TECHNOLOGY, KNEW THAT AS
AMERICANS WE LOOK AHEAD, NOT BACK. ALWAYS HAVE. AND
MUST, NOW, MORE THAN EVER. FOR THE COMING DECADE WILL
SEE, AND SHAPE, A RAPIDLY CHANGING WORKFORCE. To INVEST
ITS TALENTS WILL BE OUR CHALLENGE AS A NATION.
- 19 -
ACCORDING TO THE NATIONAL SCIENCE FOUNDATION, FOR
INSTANCE, BY THE YEAR 2000 THE COLLEGE-AGE POPULATION
WILL HAVE SHRUNK ALMOST 20 PER CENT. AMONG COLLEGE-AGE
YOUTH, MINORITIES WILL COMPRISE 1/3. AND WOMEN,
MINORITIES, AND IMMIGRANTS WILL TOTAL ALMOST 2/3 OF NEW
ENTRANTS TO THE LABOR FORCE.
THESE FACTS DEMAND A NEW INVESTMENT TO BUILD A MORE
COMPETITIVE AMERICA.
- 20 -
It's AN INVESTMENT DIFFERENT FROM LOWER CAPITAL GAINS
TAXES, MORE FUNDS FOR SPACE, AND OTHER HIGH-TECHNOLOGY,
BUT IT IS VITAL. I'M REFERRING, OF COURSE, TO CHILD
CARE.
AT FORD AEROSPACE, OFFICIALS ARE RESPONDING TO
CHANGING DEMOGRAPHICS AND THE NEEDS OF ITS EMPLOYEES.
BY INCREASING PARENTAL OPTIONS, FORD'S EMPLOYEE
ASSISTANCE PROGRAM IS HELPING TO KEEP US COMPETITIVE.
- 21 -
AND IT IS INVOLVING COMMUNITY AGENCIES AS CHILD-CARE
RESOURCE REFERRALS. LIKE THE YMCA CHILD CARE CENTER IN
PALO ALTO, APPROVED AND SUPPORTED BY THE UNITED WAY.
I SALUTE YOUR EXAMPLE. AND I APPLAUD ITS EMPHASIS
ON CHOICE. Now, THERE ARE SOME CONGRESSIONAL CHILD
CARE INITIATIVES -- WELL-MEANING INITIATIVES -- BUT
WHICH DON'T REFLECT THIS EMPHASIS. OUR NEW CHILD CARE
INITIATIVE DOES. OUR PROPOSAL URGES A NEW TAX CREDIT
TO MAKE CHILD CARE MORE AFFORDABLE.
- 22 -
AND IT PUTS MONEY IN THE HANDS OF LOW-INCOME PARENTS,
LIMITS FEDERAL INTERVENTION, AND INCREASES OPTIONS. A
CHURCH CAN HELP, OR GRANDPARENTS, OR PROFESSIONAL
NURSERY. WHEN IT COMES TO CHILD CARE, WE SAY: "LET
THE PARENTS DECIDE."
FOR IN THE END, MY FRIENDS, IT'S DECISIONS WE COME
DOWN TO © DECISIONS TO SAY "Yes" TO CHILD CARE, MORE
FUNDS FOR SPACE, AND OTHER HIGH-TECHNOLOGY.
- 23 -
DECISIONS WHICH SERVE THE ENTIRE COMMUNITY: WORKERS,
INVESTORS, STUDENTS, PARENTS. DECISIONS TO INVEST IN
AMERICA SO THAT WE CAN CREATE A MORE COMPETITIVE
AMERICA.
As CALIFORNIANS, YOU KNOW WHAT I'M TALKING ABOUT.
AND YOU UNDERSTAND WHAT THE WRITER LINCOLN STEFFENS
MEANT WHEN HE SAID, "I HAVE SEEN THE FUTURE AND IT
WORKS."
- 24 -
FOR YOU BELIEVE IN DARING, ASPIRING, AND CHARTING
UNEXPLORED FRONTIERS. You LOOK AHEAD, NOT BACK. You
KNOW THAT NOTHING IS IMPOSSIBLE. AND BY GIVING OF
YOURSELVES, AND TO YOUR COUNTRY, YOU GIVE LIFT To THE
AMERICAN DREAM.
THANK YOU FOR THAT, AND FOR YOUR KINDNESS AND
GENEROSITY. GOD BLESS YOU, AND GOD BLESS AMERICA.
# # # #
- 4 -
INVESTMENTS, IN SHORT, WHICH WILL MAKE US MORE COMPETITIVE AND
KEEP AMERICA No. 1.
IN A SENSE, THIS ATTITUDE IS TYPICALLY AMERICAN. FOR WE ARE,
AT HEART, A COMPETITIVE PEOPLE, WE MEASURE LIFE BY TODAY'S Dow
JONES AVERAGE, OR BY HOW OUR BALL CLUB DID MOST RECENTLY
((A's
-
DODGERS 7, GIANTS 6. I SORRY, FOLKS, ))
- 23 -
DECISIONS WHICH SERVE THE ENTIRE COMMUNITY: WORKERS, INVESTORS,
STUDENTS, PARENTS, DECISIONS TO INVEST IN AMERICA SO THAT WE CAN
CREATE A MORE COMPETITIVE AMERICA.
As CALIFORNIANS, YOU KNOW WHAT I'M TALKING ABOUT. You HAVE
ALWAYS BELIEVED IN DARING, ASPIRING, AND CHARTING UNEXPLORED
FRONTIERS, You LOOK AHEAD, NOT BACK, You KNOW THAT NOTHING IS
IMPOSSIBLE, AND BY GIVING OF YOURSELVES, AND TO YOUR COUNTRY,
YOU GIVE LIFT TO THE AMERICAN DREAM.
- 25 -
THANK YOU FOR THAT, AND FOR YOUR KINDNESS AND GENEROSITY.
GOD BLESS YOU, AND GOD BLESS AMERICA.
###