Ask the Scholar
Document scope · 1 page
Scholar
Ask about this object, its catalog metadata, its source description, or the page inventory.
For page-specific OCR and visual context, open one of the page chats.
Scholar Source Context
Document identity
localId
323151968
label
Young President's Association 4/21/92 [OA 6100]
core
doc
dtoType
document
citationUrl
pageCount
1
Source metadata
id
323151968
contentType
document
title
Young President's Association 4/21/92 [OA 6100]
citationUrl
identifierLocal
13617-001
collections
Records of the White House Office of Speechwriting (George H. W. Bush Administration)
Speech Draft Files
imageCount
1
hasImages
yes
source
import
hasTranscription
no
Source extras
naId
323151968
levelOfDescription
fileUnit
recordType
description
ocrSource
nara-archive
Single page context
seq
1
pageIndex
0
type
document
mediaId
c5c13369d61dcf4d
ocrText
Originally Processed With FOLA(s):
FOIA Number:
S
S
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:
13617
Folder ID Number:
13617-001
Folder Title:
Young President's Association 4/21/92 [OA 6100]
Stack:
Row:
Section:
Shelf:
Position:
G
26
18
1
4
YOUNG PRESIDENTS ORGANIZATION \ ROOM 450
TUESDAY, APRIL 21, 1992 \ 2:00 PM
I'M PLEASED TO BE WITH YOU TODAY. IT'S GREAT TO
SEE DOUG GLANT (INTERNATIONAL PRESIDENT OF Y.P.O.)
THIS AFTERNOON I'D LIKE TO BRIEFLY ADDRESS A FEW ISSUES
OF CONCERN TO ALL AMERICANS, BUT PARTICULARLY TO THOSE
OF YOU IN THE BUSINESS WORLD. YOUR CREATIVITY AND
KNOW-HOW ARE THE FUEL THAT CREATES OUR COUNTRY'S WEALTH
AND PROVIDES REWARDING AND FULFILLING JOBS FOR OUR
COMMUNITIES.
- 2 -
THE ROLE OF GOVERNMENT IN FREE ENTERPRISE IS TO
ALLOW YOUR CREATIVITY TO FLOURISH. AND THAT TRANSLATES
INTO GROWTH. FOR THE PAST THREE YEARS, I HAVE PROMOTED
SENSIBLE POLICIES THAT WILL HELP YOU EXPAND YOUR
BUSINESSES AND CREATE JOBS. LET ME ASSURE YOU: WE WILL
CONTINUE TO FIGHT FOR OUR ECONOMIC GROWTH AGENDA.
As SOME OF YOU MAY KNOW, WE FACE A DECISION ON OUR
PARTICIPATION IN THE U.N. CONFERENCE ON THE ENVIRONMENT
AND DEVELOPMENT IN RIO.
- 3 -
THE ATTENDANCE OF THE U.S. PRESIDENT AT THE RIO
CONFERENCE WOULD ADD A MAJOR POLITICAL IMPETUS TO THE
UNDERTAKING. BUT IT COULD ALSO COMMIT THE UNITED
STATES TO A COURSE OF ACTION THAT COULD DRAMATICALLY
IMPEDE LONG-TERM ECONOMIC GROWTH IN THIS COUNTRY. I AM
COMMITTED TO INTERNATIONAL COOPERATION TO PRESERVE THE
WORLD'S ENVIRONMENT. THAT IS WHY I WOULD LIKE TO GO TO
THIS CONFERENCE. BUT I WILL NOT GO TO THE RIO
CONFERENCE AND MAKE A BAD DEAL.
- 4 -
I WILL NOT SIGN AN AGREEMENT THAT DOES NOT PROTECT THE
ENVIRONMENT AND THE ECONOMY OF OUR COUNTRY. THIS IS A
VERY IMPORTANT DECISION -- FOR OUR ENVIRONMENT AND OUR
ECONOMY. To PLAY POLITICS WITH THE RIO CONFERENCE
SEVERELY UNDERCUTS THE U.S. POSITION AS WE TRY TO
ASSURE A WORLD VIEW THAT WILL PROTECT THE ENVIRONMENT
AND THE ECONOMY. WE WILL INTENSELY CONSIDER THIS
MATTER IN THE DAYS AHEAD, AND I WILL LET YOU KNOW VERY
SOON OUR FINAL DECISION ON MY ATTENDANCE IN RIO.
- 5 -
HERE AT HOME LAST WEEK, WE HAD SOME MORE HEARTENING
NEWS ABOUT THE UNITED STATES ECONOMY. ALL AROUND THE
WORLD, CONSUMERS AND COMPANIES BUY AMERICAN GOODS AND
SERVICES IN EVER-GREATER AMOUNTS, DESPITE THE SLUGGISH
PERFORMANCE OF SOME OF THEIR OWN ECONOMIES. U.S.
EXPORTS ARE EXPERIENCING A SURGE, RISING SEVEN PERCENT
IN FEBRUARY TO A ONE-MONTH RECORD HIGH OF ALMOST $38
BILLION. ONCE AGAIN, MANUFACTURING EXPORTS ARE LEADING
THE WAY.
- 6 -
THIS GOOD NEWS UNDERSCORES A FUNDAMENTAL TRUTH
ABOUT AMERICAN COMPETITIVENESS: IF WE ARE TO SUCCEED
ECONOMICALLY AT HOME, WE MUST SUCCEED ECONOMICALLY
ABROAD. THE EVIDENCE IS INDISPUTABLE: OPEN MARKETS AND
FREE TRADE MEAN JOBS FOR AMERICAN WORKERS AND GROWTH
FOR AMERICAN COMPANIES. OVER THE PAST FOUR DECADES,
TRADE-RELATED JOBS IN OUR COUNTRY HAVE GROWN THREE
TIMES FASTER THAN OVERALL AMERICAN JOB CREATION.
- 7 -
WE MUST BUILD ON THIS ASTOUNDING SUCCESS. ALREADY,
OVER THE PAST FOUR YEARS, OUR EXPORTS TO MEXICO HAVE
MORE THAN DOUBLED, CREATING MORE THAN 300,000 EXPORT-
RELATED JOBS HERE AT HOME. WE WANT TO LOCK IN THOSE
GAINS WITH A NORTH AMERICAN FREE TRADE AGREEMENT --
NAFTA. WITH CANADA AND MEXICO, NAFTA WILL ESTABLISH
ONE OF THE WORLD'S LARGEST TRADING AREAS, A $6 TRILLION
MARKET FROM THE YUKON TO THE YUCATAN.
- 8 -
THAT WILL MEAN HUNDREDS OF THOUSANDS OF NEW JOBS FOR
U.S. WORKERS.
AND TOMORROW I WILL MEET WITH JACQUES DELORS,
PRESIDENT OF THE E.C. COMMISSION, AND PRIME MINISTER
CAVACO SILVA, PRESIDENT OF THE EUROPEAN COUNCIL, TO
DISCUSS THE URUGUAY ROUND OF GATT, THE WORLD TRADE
NEGOTIATIONS. OVER THE NEXT DECADE, A SUCCESSFUL
CONCLUSION OF THE URUGUAY ROUND COULD PUMP $5 TRILLION
INTO THE GLOBAL ECONOMY.
- 9 -
THE U.S. SHARE OF THIS GROWTH WOULD TOP $1 TRILLION.
No ONE SHOULD DOUBT MY RESOLVE TO PRESERVE AND EXPAND
THE WORLDWIDE REGIME OF OPEN TRADE. GATT MUST BE
PRESERVED, FOR THIS REASON: AMERICAN WORKERS AND
COMPANIES DESERVE THE JOBS AND OPPORTUNITIES THESE OPEN
MARKETS OFFER.
I KNOW THAT THERE'S STILL MUCH WE CAN DO TO MAKE
AMERICA EVEN MORE COMPETITIVE. ONE OF OUR SERIOUS
ECONOMIC PROBLEMS RIGHT NOW IS THE COST OF CAPITAL.
- 10 -
IT'S TOO HIGH. THAT'S WHY I WILL CONTINUE TO FIGHT FOR
A CUT IN THE TAX RATE ON CAPITAL GAINS. A HIGH CAP-
GAINS RATE MERELY DISCOURAGES INVESTMENT, AND THUS
BUSINESS EXPANSION AND JOB CREATION.
NONE OF OUR MAJOR INDUSTRIAL COMPETITORS TAXES
CAPITAL GAINS AT RATES COMPARABLE TO OURS. GERMANY
DOESN'T TAX LONG-TERM CAPITAL GAINS AT ALL. IN JAPAN,
AN ENTREPRENEUR WHO SELLS THE COMPANY HE'S BUILT FROM
SCRATCH PAYS A TAX OF ONE PERCENT.
. 11 -
YET THE VERY PEOPLE WHO COMPLAIN ABOUT AMERICA'S
ABILITY TO COMPETE BLOCK OUR EVERY EFFORT TO LOWER THE
CAPITAL GAINS TAX. A LOWER CAP-GAINS RATE WILL BENEFIT
VIRTUALLY EVERYONE IN AMERICA -- NOT ONLY THOSE WHO RUN
A BUSINESS BUT ANYONE WHO OWNS A HOUSE OR A SHARE OF
STOCK, OR ANYONE WHO SEEKS A BETTER JOB. IT's TIME TO
STOP PUNISHING THE PURSUIT OF EXCELLENCE. IT'S TIME TO
CUT THE TAX ON CAPITAL GAINS.
- 12 -
WE ARE ALSO WORKING TO LIGHTEN THE REGULATORY
BURDEN THAT WASHINGTON IMPOSES ON AMERICAN BUSINESS.
You MAY RECALL THAT LAST JANUARY I ANNOUNCED A 90-DAY
MORATORIUM ON FEDERAL REGULATIONS. WHEREVER POSSIBLE,
WE HAVE BLOCKED THOSE REGULATIONS THAT DISCOURAGE
GROWTH; AND WE ARE ACCELERATING THOSE THAT ENCOURAGE
GROWTH. So FAR, PRELIMINARY ESTIMATES SHOW THAT WE'VE
SAVED AMERICAN BUSINESS TEN-TO-TWENTY BILLION DOLLARS
IN REGULATORY COSTS.
- 13 -
I WILL SOON BE MAKING AN ANNOUNCEMENT ABOUT OUR
CONTINUING BATTLE AGAINST EXCESSIVE REGULATIONS, BUT
FOR NOW I CAN CONFIDENTLY TELL YOU: THE DAYS OF OVER-
REGULATION ARE JUST THAT -- OVER.
WE ARE PURSUING COMPREHENSIVE REFORMS IN OTHER
AREAS THAT DIRECTLY RELATE TO AMERICA'S LONG-TERM
COMPETITIVENESS. WE'VE PROPOSED MARKET-BASED HEALTH-
CARE REFORM, TO CONTROL SKYROCKETING COSTS AND BRING
COVERAGE TO THE UNINSURED.
- 14 -
THROUGH OUR AMERICA 2000 INITIATIVE, WE ARE
INTENSIFYING OUR EFFORTS TO REVOLUTIONIZE -- LITERALLY
REINVENT -- AMERICAN EDUCATION, TO CREATE THE MOST
HIGHLY SKILLED WORKFORCE IN THE WORLD. AND WE'VE
INTRODUCED IMPORTANT STEPS TO REFORM OUR LEGAL SYSTEM,
TO PUT AN END TO THE FRIVOLOUS LAWSUITS THAT MIRE so
MANY BUSINESSES AND INDIVIDUALS IN A BOTTOMLESS SWAMP
OF LITIGATION. WE MUST SUE EACH OTHER LESS AND START
HELPING EACH OTHER MORE.
- 15 -
AND THAT BRINGS ME TO A FINAL POINT. THE FACT IS,
NONE OF OUR PRESSING SOCIAL PROBLEMS WILL BE SOLVED
WITHOUT THE VOLUNTARY INVOLVEMENT OF INDIVIDUALS AND
COMMUNITIES. FROM THE FIRST DAY OF THIS
ADMINISTRATION, I HAVE CALLED ON EVERY AMERICAN TO
BECOME A POINT OF LIGHT -- TO BRING HOPE TO THE
HOPELESS, HELP TO THE HELPLESS, LOVE AND CARE TO THOSE
IN NEED.
- 16 -
RIGHT HERE IN YOUR ORGANIZATIONS, YOU'LL FIND
EXAMPLES OF WHAT I'M TALKING ABOUT. PEOPLE LIKE GAY
MAYER, WHO WORKS WITH A DRUG REHABILITATION PROGRAM IN
HIS AREA -- AND HAS HELPED MORE THAN 100 YOUNG ADULTS
RECOVER FROM THE RAVAGES OF DRUG ABUSE TO LEAD
PRODUCTIVE LIVES. OR JOSEPH Lobozzo, WHO SPENDS HIS
WEDNESDAY NIGHTS COUNSELING CHILDREN OF ALCOHOLICS.
I WOULD LIKE TODAY TO CHALLENGE YOU TO JOIN THESE
MEN IN A MOVEMENT THAT IS TRANSFORMING OUR COUNTRY.
- 17 -
FIRST, I ASK YOU TO MAKE YOUR COMPANY A POINT OF LIGHT,
BY PERSONALLY DEVOTING MUCH OF YOUR OWN TIME TO
COMMUNITY SERVICE AND ENCOURAGING YOUR EMPLOYEES TO DO
THE SAME. SECOND, YOU CAN ENCOURAGE OTHER LEADERS IN
YOUR COMMUNITY TO MAKE VOLUNTARY SERVICE PART OF THEIR
OWN MISSIONS AS WELL. AND FINALLY, YOU CAN WORK AMONG
YOUR VAST MEMBERSHIPS TO HELP AMERICA ITSELF BECOME A
NATION FILLED WITH COMMUNITIES OF LIGHT.
- 18 -
I SPOKE EARLIER WITH DOUG GLANT, MAC JASON, NEIL
BALTER, AND HARRY BROCK, AND THEY TELL ME THERE IS
SUPPORT AMONG YOUR MEMBERS TO ASSUME SUCH A LEADERSHIP
ROLE. AND I KNOW DOUG HAS ASKED DAVID WEAVER TO WORK
WITH EACH OF YOU TO DECIDE HOW YOU CAN BEST RESPOND TO
THIS CHALLENGE.
THE RESULTS WILL BE PROFOUND -- FOR YOURSELVES,
YOUR EMPLOYEES, FOR THE LEGACY WE LEAVE OUR CHILDREN.
- 19 -
WE ALL WANT A WORLD AT PEACE; STRONG, WHOLESOME
FAMILIES; AND REWARDING JOBS FOR ALL WHO SEEK THEM. WE
HAVE IT IN OUR POWER TO CREATE SUCH A LEGACY -- A
LEGACY WORTHY OF THIS GREAT COUNTRY. I THANK YOU FOR
HELPING MAKE THAT LEGACY A REALITY.
GOD BLESS YOU, AND GOD BLESS THE UNITED STATES OF
AMERICA.
# # # #
YOUNG PRESIDENTS ORGANIZATION \ ROOM 450
TUESDAY, APRIL 21, 1992 \ 2:00 PM
I'M PLEASED TO BE WITH YOU TODAY. IT'S GREAT TO
SEE DOUG GLANT (INTERNATIONAL PRESIDENT OF Y.P.O.)
THIS AFTERNOON I'D LIKE TO BRIEFLY ADDRESS A FEW ISSUES
OF CONCERN TO ALL AMERICANS, BUT PARTICULARLY TO THOSE
OF YOU IN THE BUSINESS WORLD. YOUR CREATIVITY AND
KNOW-HOW ARE THE FUEL THAT CREATES OUR COUNTRY'S WEALTH
AND PROVIDES REWARDING AND FULFILLING JOBS FOR OUR
COMMUNITIES.
- 2 -
THE ROLE OF GOVERNMENT IN FREE ENTERPRISE IS TO
ALLOW YOUR CREATIVITY TO FLOURISH. AND THAT TRANSLATES
INTO GROWTH. FOR THE PAST THREE YEARS, I HAVE PROMOTED
SENSIBLE POLICIES THAT WILL HELP YOU EXPAND YOUR
BUSINESSES AND CREATE JOBS. LET ME ASSURE YOU: WE WILL
CONTINUE TO FIGHT FOR OUR ECONOMIC GROWTH AGENDA.
As SOME OF YOU MAY KNOW, WE FACE A DECISION ON OUR
PARTICIPATION IN THE U.N. CONFERENCE ON THE ENVIRONMENT
AND DEVELOPMENT IN RIO.
- 3 -
THE ATTENDANCE OF THE U.S. PRESIDENT AT THE RIO
CONFERENCE WOULD ADD A MAJOR POLITICAL IMPETUS TO THE
UNDERTAKING. BUT IT COULD ALSO COMMIT THE UNITED
STATES TO A COURSE OF ACTION THAT COULD DRAMATICALLY
IMPEDE LONG-TERM ECONOMIC GROWTH IN THIS COUNTRY. I AM
COMMITTED TO INTERNATIONAL COOPERATION TO PRESERVE THE
WORLD'S ENVIRONMENT. THAT IS WHY I WOULD LIKE TO GO TO
THIS CONFERENCE. BUT I WILL NOT GO TO THE RIO
CONFERENCE AND MAKE A BAD DEAL.
- 4 -
I WILL NOT SIGN AN AGREEMENT THAT DOES NOT PROTECT THE
ENVIRONMENT AND THE ECONOMY OF OUR COUNTRY. THIS IS A
VERY IMPORTANT DECISION -- FOR OUR ENVIRONMENT AND OUR
ECONOMY. To PLAY POLITICS WITH THE RIO CONFERENCE
SEVERELY UNDERCUTS THE U.S. POSITION AS WE TRY To
ASSURE A WORLD VIEW THAT WILL PROTECT THE ENVIRONMENT
AND THE ECONOMY. WE WILL INTENSELY CONSIDER THIS
MATTER IN THE DAYS AHEAD, AND I WILL LET YOU KNOW VERY
SOON OUR FINAL DECISION ON MY ATTENDANCE IN RIO.
- 5 -
HERE AT HOME LAST WEEK, WE HAD SOME MORE HEARTENING
NEWS ABOUT THE UNITED STATES ECONOMY. ALL AROUND THE
WORLD, CONSUMERS AND COMPANIES BUY AMERICAN GOODS AND
SERVICES IN EVER-GREATER AMOUNTS, DESPITE THE SLUGGISH
PERFORMANCE OF SOME OF THEIR OWN ECONOMIES. U.S.
EXPORTS ARE EXPERIENCING A SURGE, RISING SEVEN PERCENT
IN FEBRUARY TO A ONE-MONTH RECORD HIGH OF ALMOST $38
BILLION. ONCE AGAIN, MANUFACTURING EXPORTS ARE LEADING
THE WAY.
- 6 -
THIS GOOD NEWS UNDERSCORES A FUNDAMENTAL TRUTH
ABOUT AMERICAN COMPETITIVENESS: IF WE ARE TO SUCCEED
ECONOMICALLY AT HOME, WE MUST SUCCEED ECONOMICALLY
ABROAD. THE EVIDENCE IS INDISPUTABLE: OPEN MARKETS AND
FREE TRADE MEAN JOBS FOR AMERICAN WORKERS AND GROWTH
FOR AMERICAN COMPANIES. OVER THE PAST FOUR DECADES,
TRADE-RELATED JOBS IN OUR COUNTRY HAVE GROWN THREE
TIMES FASTER THAN OVERALL AMERICAN JOB CREATION.
- 7 -
WE MUST BUILD ON THIS ASTOUNDING SUCCESS. ALREADY,
OVER THE PAST FOUR YEARS, OUR EXPORTS TO MEXICO HAVE
MORE THAN DOUBLED, CREATING MORE THAN 300,000 EXPORT-
RELATED JOBS HERE AT HOME. WE WANT TO LOCK IN THOSE
GAINS WITH A NORTH AMERICAN FREE TRADE AGREEMENT --
NAFTA. WITH CANADA AND MEXICO, NAFTA WILL ESTABLISH
ONE OF THE WORLD'S LARGEST TRADING AREAS, A $6 TRILLION
MARKET FROM THE YUKON TO THE YUCATAN.
- 8 -
THAT WILL MEAN HUNDREDS OF THOUSANDS OF NEW JOBS FOR
U.S. WORKERS.
AND TOMORROW I WILL MEET WITH JACQUES DELORS,
PRESIDENT OF THE E.C. COMMISSION, AND PRIME MINISTER
CAVACO SILVA, PRESIDENT OF THE EUROPEAN COUNCIL, TO
DISCUSS THE URUGUAY ROUND OF GATT, THE WORLD TRADE
NEGOTIATIONS. OVER THE NEXT DECADE, A SUCCESSFUL
CONCLUSION OF THE URUGUAY ROUND COULD PUMP $5 TRILLION
INTO THE GLOBAL ECONOMY.
- 9 -
THE U.S. SHARE OF THIS GROWTH WOULD TOP $1 TRILLION.
No ONE SHOULD DOUBT MY RESOLVE To PRESERVE AND EXPAND
THE WORLDWIDE REGIME OF OPEN TRADE. GATT MUST BE
PRESERVED, FOR THIS REASON: AMERICAN WORKERS AND
COMPANIES DESERVE THE JOBS AND OPPORTUNITIES THESE OPEN
MARKETS OFFER.
I KNOW THAT THERE'S STILL MUCH WE CAN DO TO MAKE
AMERICA EVEN MORE COMPETITIVE. ONE OF OUR SERIOUS
ECONOMIC PROBLEMS RIGHT NOW IS THE COST OF CAPITAL.
at
III
- 10 -
It's TOO HIGH. THAT'S WHY I WILL CONTINUE TO FIGHT FOR
A CUT IN THE TAX RATE ON CAPITAL GAINS. A HIGH CAP-
GAINS RATE MERELY DISCOURAGES INVESTMENT, AND THUS
BUSINESS EXPANSION AND JOB CREATION.
NONE OF OUR MAJOR INDUSTRIAL COMPETITORS TAXES
CAPITAL GAINS AT RATES COMPARABLE TO OURS. GERMANY
DOESN'T TAX LONG-TERM CAPITAL GAINS AT ALL. IN JAPAN,
AN ENTREPRENEUR WHO SELLS THE COMPANY HE'S BUILT FROM
SCRATCH PAYS A TAX OF ONE PERCENT.
- 11 -
YET THE VERY PEOPLE WHO COMPLAIN ABOUT AMERICA'S
ABILITY TO COMPETE BLOCK OUR EVERY EFFORT TO LOWER THE
CAPITAL GAINS TAX. A LOWER CAP-GAINS RATE WILL BENEFIT
VIRTUALLY EVERYONE IN AMERICA -- NOT ONLY THOSE WHO RUN
A BUSINESS BUT ANYONE WHO OWNS A HOUSE OR A SHARE OF
STOCK, OR ANYONE WHO SEEKS A BETTER JOB. It's TIME TO
STOP PUNISHING THE PURSUIT OF EXCELLENCE. IT'S TIME TO
CUT THE TAX ON CAPITAL GAINS.
- 12 -
WE ARE ALSO WORKING TO LIGHTEN THE REGULATORY
BURDEN THAT WASHINGTON IMPOSES ON AMERICAN BUSINESS.
You MAY RECALL THAT LAST JANUARY I ANNOUNCED A 90-DAY
MORATORIUM ON FEDERAL REGULATIONS. WHEREVER POSSIBLE,
WE HAVE BLOCKED THOSE REGULATIONS THAT DISCOURAGE
GROWTH; AND WE ARE ACCELERATING THOSE THAT ENCOURAGE
GROWTH. So FAR, PRELIMINARY ESTIMATES SHOW THAT WE'VE
SAVED AMERICAN BUSINESS TEN-TO-TWENTY BILLION DOLLARS
IN REGULATORY COSTS.
- 13 -
I WILL SOON BE MAKING AN ANNOUNCEMENT ABOUT OUR
CONTINUING BATTLE AGAINST EXCESSIVE REGULATIONS, BUT
FOR NOW I CAN CONFIDENTLY TELL YOU: THE DAYS OF OVER-
REGULATION ARE JUST THAT -- OVER.
WE ARE PURSUING COMPREHENSIVE REFORMS IN OTHER
AREAS THAT DIRECTLY RELATE TO AMERICA'S LONG-TERM
COMPETITIVENESS. WE'VE PROPOSED MARKET-BASED HEALTH-
CARE REFORM, TO CONTROL SKYROCKETING COSTS AND BRING
COVERAGE TO THE UNINSURED.
- 14 -
THROUGH OUR AMERICA 2000 INITIATIVE, WE ARE
INTENSIFYING OUR EFFORTS TO REVOLUTIONIZE -- LITERALLY
REINVENT -- AMERICAN EDUCATION, TO CREATE THE MOST
HIGHLY SKILLED WORKFORCE IN THE WORLD. AND WE'VE
INTRODUCED IMPORTANT STEPS TO REFORM OUR LEGAL SYSTEM,
TO PUT AN END TO THE FRIVOLOUS LAWSUITS THAT MIRE so
MANY BUSINESSES AND INDIVIDUALS IN A BOTTOMLESS SWAMP
OF LITIGATION. WE MUST SUE EACH OTHER LESS AND START
HELPING EACH OTHER MORE.
- 15 -
AND THAT BRINGS ME TO A FINAL POINT. THE FACT IS,
NONE OF OUR PRESSING SOCIAL PROBLEMS WILL BE SOLVED
WITHOUT THE VOLUNTARY INVOLVEMENT OF INDIVIDUALS AND
COMMUNITIES. FROM THE FIRST DAY OF THIS
ADMINISTRATION, I HAVE CALLED ON EVERY AMERICAN TO
BECOME A POINT OF LIGHT -- TO BRING HOPE TO THE
HOPELESS, HELP TO THE HELPLESS, LOVE AND CARE TO THOSE
IN NEED.
- 16 -
RIGHT HERE IN YOUR ORGANIZATIONS, YOU' LL FIND
EXAMPLES OF WHAT I'M TALKING ABOUT. PEOPLE LIKE GAY
MAYER, WHO WORKS WITH A DRUG REHABILITATION PROGRAM IN
HIS AREA -- AND HAS HELPED MORE THAN 100 YOUNG ADULTS
RECOVER FROM THE RAVAGES OF DRUG ABUSE TO LEAD
PRODUCTIVE LIVES. OR JOSEPH Lobozzo, WHO SPENDS HIS
WEDNESDAY NIGHTS COUNSELING CHILDREN OF ALCOHOLICS.
I WOULD LIKE TODAY TO CHALLENGE YOU TO JOIN THESE
MEN IN A MOVEMENT THAT IS TRANSFORMING OUR COUNTRY.
- 17 -
FIRST, I ASK YOU TO MAKE YOUR COMPANY A POINT OF LIGHT,
BY PERSONALLY DEVOTING MUCH OF YOUR OWN TIME TO
COMMUNITY SERVICE AND ENCOURAGING YOUR EMPLOYEES TO DO
THE SAME. SECOND, YOU CAN ENCOURAGE OTHER LEADERS IN
YOUR COMMUNITY TO MAKE VOLUNTARY SERVICE PART OF THEIR
OWN MISSIONS AS WELL. AND FINALLY, YOU CAN WORK AMONG
YOUR VAST MEMBERSHIPS To HELP AMERICA ITSELF BECOME A
NATION FILLED WITH COMMUNITIES OF LIGHT.
- 18 -
I SPOKE EARLIER WITH DOUG GLANT, MAC JASON, NEIL
BALTER, AND HARRY BROCK, AND THEY TELL ME THERE IS
SUPPORT AMONG YOUR MEMBERS TO ASSUME SUCH A LEADERSHIP
ROLE. AND I KNOW DOUG HAS ASKED DAVID WEAVER TO WORK
WITH EACH OF YOU TO DECIDE HOW YOU CAN BEST RESPOND TO
THIS CHALLENGE.
THE RESULTS WILL BE PROFOUND -- FOR YOURSELVES,
YOUR EMPLOYEES, FOR THE LEGACY WE LEAVE OUR CHILDREN.
- 19 -
WE ALL WANT A WORLD AT PEACE; STRONG, WHOLESOME
FAMILIES; AND REWARDING JOBS FOR ALL WHO SEEK THEM. WE
HAVE IT IN OUR POWER TO CREATE SUCH A LEGACY -- A
LEGACY WORTHY OF THIS GREAT COUNTRY. I THANK YOU FOR
HELPING MAKE THAT LEGACY A REALITY.
GOD BLESS YOU, AND GOD BLESS THE UNITED STATES OF
AMERICA.
# # # #
Ma
THE PRESIDENT HAS
SEEN
THE WHITE HOUSE
WASHINGTON
02 APR 20 P5: 45
April 20, 1992
MEMORANDUM FOR THE PRESIDENT
THROUGH:
DAVID DEMAREST
4
FROM:
ANDREW FERGUSON at
SUBJECT:
REMARKS TO THE YOUNG PRESIDENTS ORGANIZATION
On Tuesday, April 21 at 2:00 p.m. you will deliver remarks
(8 minutes, cards) to the Young Presidents Organization in Room
450 of the OEOB. Your remarks focus on your commitment to
economic growth, particularly free trade, and include a challenge
to your audience to deepen their commitment to voluntary
community service.
(Ferguson/Aarhus)
April 20, 1992
Draft Four
YPO
PRESIDENT REMARKS: YOUNG PRESIDENTS ORGANIZATION
ROOM 450
TUESDAY, APRIL 21, 1992
2:00 PM
[Acknowledgments)]
I am pleased to be with you today. This afternoon I'd like
to briefly address a few issues of concern to all Americans, but
particularly to those of you in the business world. Your
creativity and know-how are the fuel that creates our country's
wealth and provides rewarding and fulfilling jobs for our
communities.
The role of government in free enterprise is to allow your
creativity to flourish. And that translates into growth. For
the past three years I have promoted sensible policies that will
help you expand your businesses and create jobs. Let me assure
you: we will continue to fight for our economic growth agenda.
Last week, as you know, we had some more heartening news
about the economy. All around the world, consumers and companies
buy American goods and services in ever greater amounts, despite
the sluggish performance of some of their own economies. U.S.
exports are experiencing a surge, rising 7 percent in February to
a record high of almost $38 billion. And once again,
manufacturing exports are leading the way.
This good news underscores a fundamental truth about
American competitiveness: If we are to succeed economically at
home, we must succeed economically abroad. The evidence is
2
indisputable: open markets and free trade mean jobs for American
workers and growth for American companies. Over the past four
decades, trade-related jobs in our country have grown three times
faster than overall American job creation.
We must build on this astounding success. Already, over the
past six years, our exports to Mexico have nearly tripled,
creating more than 300,000 jobs here at home. We want to lock in
those gains with a North American Free Trade Agreement -- NAFTA.
With Canada and Mexico, NAFTA will establish one of the world's
largest trading areas, a $6 trillion market from the Yukon to the
Yucatan. That will mean hundreds of thousands of new jobs for
U.S. workers.
And tomorrow I will meet with Jacques Delors, president of
the EC Commission, and Prime Minister Cavaco Silva, president of
the European Council, to discuss the Uruguay round of GATT, the
world trade negotiations. Over the next decade, a successful
conclusion of the Uruguay Round could pump $5 trillion into the
global economy. The U.S. share of this growth would top $1
trillion. No one should doubt my resolve to preserve and expand
the worldwide regime of open trade. GATT must be preserved, for
this reason: American workers and companies deserve the jobs and
opportunities these open markets offer.
I know that there's still much we can do to make America
even more competitive. One of our serious economic problems
right now is the cost of capital. It's too high. That's why I
will continue to fight for a cut in the tax rate on capital
3
gains. A high cap-gains rate merely discourages investment, and
thus business expansion and job creation.
None of our major industrial competitors taxes capital gains
at rates comparable to ours. Germany doesn't tax long-term
capital gains at all. In Japan, an entrepreneur who sells the
company he's built from scratch pays a tax of one percent.
Yet the very people who complain about America's ability to
compete block our every effort to lower the capital gains tax. A
lower cap-gains rate will benefit virtually everyone in America -
- not only those who run a business but anyone who owns a house
or a share of stock, or anyone who seeks a better job. It's time
to stop punishing the pursuit of excellence. It's time to cut
the tax on capital gains.
We are also working to lighten the regulatory burden that
Washington imposes on American business. You may recall that
last January I announced a 90-day moratorium on federal
regulations. Wherever possible, we have blocked those
regulations that discourage growth; and we are accelerating those
that encourage growth. So far, preliminary estimates show that
we've saved American business ten-to-twenty billion dollars in
regulatory costs. I will soon be making an announcement about
our continuing battle against excessive regulations, but for now
I can confidently tell you: The days of over-regulation are just
that -- over.
We are pursuing comprehensive reforms in other areas that
directly relate to America's long-term competitiveness. We've
4
proposed a market-based health-care reform, to control
skyrocketing costs and bring coverage to the uninsured. Through
our America 2000 initiative, we are intensifying our efforts to
revolutionize -- literally reinvent -- American education, to
create the most highly skilled workforce in the world. And we've
introduced important steps to reform our legal system, to put an
end to the frivolous lawsuits that mire so many businesses and
individuals in a bottomless swamp of litigation. We must sue
each other less and start helping each other more.
And that brings me to a final point. The fact is, none of
our pressing social problems will be solved without the voluntary
involvement of individuals and communities. From the first day
of this administration, I have called on every American to become
a Point of Light -- to bring hope to the hopeless, help to the
helpless, love and care to those in need.
Right here in your organizations, you'll find examples of
what I'm talking about. People like Gay Mayer, who works with a
drug rehabilitation program in his area -- and has helped more
than 100 young adults recover from the ravages of drug abuse to
lead productive lives. Or Joseph Lobozzo, who spends his
Wednesday nights counseling children of alcoholics.
I would like today to challenge you to join these men in a
movement that is transforming our country. First, I ask you to
make your company a Point of Light, by personally devoting much
of your own time to community service and encouraging your
employees to do the same. Second, you can encourage other
5
leaders in your community to make voluntary service part of their
own missions as well. And finally, you can work among your vast
memberships to help America itself become a nation filled with
Communities of Light.
Doug Glant tells me there is support among your members to
Doug
assume such a leadership role. And I know he has asked David
Weaver to work with each of you to decide how you can best
respond to this challenge.
The results will be profound -- for yourselves, your
employees, for the legacy we leave our children. We all want a
world at peace; strong, wholesome families; and rewarding jobs
for all who seek them. We have it in our power to create such a
legacy -- a legacy worthy of this great country. I thank you for
helping make that legacy a reality.
God bless you, and God bless the United States of America.
# # # #
earlier
I spoke with Doug Glant, Mac Jason
and Harry Brock, and they tellme
THE WHITE HOUSE
WASHINGTON
April 20, 1992
MEMORANDUM FOR THE PRESIDENT
THROUGH:
DAVID DEMAREST
4
FROM:
ANDREW FERGUSON at
SUBJECT:
REMARKS TO THE YOUNG PRESIDENTS ORGANIZATION
On Tuesday, April 21 at 2:00 p.m. you will deliver remarks
(8 minutes, cards) to the Young Presidents Organization in Room
450 of the OEOB. Your remarks focus on your commitment to
economic growth, particularly free trade, and include a challenge
to your audience to deepen their commitment to voluntary
community service.
(Ferguson/Aarhus)
April 20, 1992
Draft Four
YPO
PRESIDENT REMARKS: YOUNG PRESIDENTS ORGANIZATION
ROOM 450
TUESDAY, APRIL 21, 1992
2:00 PM
[Acknowledgments]
I am pleased to be with you today. This afternoon I'd like
to briefly address a few issues of concern to all Americans, but
particularly to those of you in the business world. Your
creativity and know-how are the fuel that creates our country's
wealth and provides rewarding and fulfilling jobs for our
communities.
The role of government in free enterprise is to allow your
creativity to flourish. And that translates into growth. For
the past three years I have promoted sensible policies that will
help you expand your businesses and create jobs. Let me assure
you: we will continue to fight for our economic growth agenda.
As Some
And Here at home,
of you
Last week, as you know, we had some more heartening news
maykow
know
United States
about the A economy. All around the world, consumers and companies
a
on
buy American goods and services in ever greater amounts, despite
partice
an
an
of
the sluggish performance of some of their own economies. U.S.
exports are experiencing a surge, rising 7 percent in February to
one month
a a record high of almost $38 billion. And once again,
I X my month
manufacturing exports are leading the way.
This good news underscores a fundamental truth about
American competitiveness: If we are to succeed economically at
home, we must succeed economically abroad. The evidence is
2
indisputable: open markets and free trade mean jobs for American
workers and growth for American companies. Over the past four
decades, trade-related jobs in our country have grown three times
faster than overall American job creation.
We must build on this astounding success. Already, over the
past six years, our exports to Mexico have nearly tripled,
creating more than 300,000 jobs here at home. We want to lock in
those gains with a North American Free Trade Agreement -- NAFTA.
With Canada and Mexico, NAFTA will establish one of the world's
largest trading areas, a $6 trillion market from the Yukon to the
Yucatan. That will mean hundreds of thousands of new jobs for
U.S. workers.
And tomorrow I will meet with Jacques Delors, president of
the EC Commission, and Prime Minister Cavaco Silva, president of
the European Council, to discuss the Uruguay round of GATT, the
world trade negotiations. Over the next decade, a successful
conclusion of the Uruguay Round could pump $5 trillion into the
global economy. The U.S. share of this growth would top $1
trillion. No one should doubt my resolve to preserve and expand
the worldwide regime of open trade. GATT must be preserved, for
this reason: American workers and companies deserve the jobs and
opportunities these open markets offer.
I know that there's still much we can do to make America
even more competitive. One of our serious economic problems
right now is the cost of capital. It's too high. That's why I
will continue to fight for a cut in the tax rate on capital
3
gains. A high cap-gains rate merely discourages investment, and
thus business expansion and job creation.
None of our major industrial competitors taxes capital gains
at rates comparable to ours. Germany doesn't tax long-term
capital gains at all. In Japan, an entrepreneur who sells the
company he's built from scratch pays a tax of one percent.
Yet the very people who complain about America's ability to
compete block our every effort to lower the capital gains tax. A
lower cap-gains rate will benefit virtually everyone in America -
- not only those who run a business but anyone who owns a house
or a share of stock, or anyone who seeks a better job. It's time
to stop punishing the pursuit of excellence. It's time to cut
the tax on capital gains.
We are also working to lighten the regulatory burden that
Washington imposes on American business. You may recall that
last January I announced a 90-day moratorium on federal
regulations. Wherever possible, we have blocked those
regulations that discourage growth; and we are accelerating those
that encourage growth. So far, preliminary estimates show that
we've saved American business ten-to-twenty billion dollars in
regulatory costs. I will soon be making an announcement about
our continuing battle against excessive regulations, but for now
I can confidently tell you: The days of over-regulation are just
that -- over.
We are pursuing comprehensive reforms in other areas that
directly relate to America's long-term competitiveness. We've
4
proposed a market-based health-care reform, to control
skyrocketing costs and bring coverage to the uninsured. Through
our America 2000 initiative, we are intensifying our efforts to
revolutionize -- literally reinvent -- American education, to
create the most highly skilled workforce in the world. And we've
introduced important steps to reform our legal system, to put an
end to the frivolous lawsuits that mire so many businesses and
individuals in a bottomless swamp of litigation. We must sue
each other less and start helping each other more.
And that brings me to a final point. The fact is, none of
our pressing social problems will be solved without the voluntary
involvement of individuals and communities. From the first day
of this administration, I have called on every American to become
a Point of Light -- to bring hope to the hopeless, help to the
helpless, love and care to those in need.
Right here in your organizations, you'll find examples of
what I'm talking about. People like Gay Mayer, who works with a
drug rehabilitation program in his area -- and has helped more
than 100 young adults recover from the ravages of drug abuse to
lead productive lives. or Joseph Lobozzo, who spends his
Wednesday nights counseling children of alcoholics.
I would like today to challenge you to join these men in a
movement that is transforming our country. First, I ask you to
make your company a Point of Light, by personally devoting much
of your own time to community service and encouraging your
employees to do the same. Second, you can encourage other
5
leaders in your community to make voluntary service part of their
own missions as well. And finally, you can work among your vast
memberships to help America itself become a nation filled with
Communities of Light.
Doug Glant tells me there is support among your members to
assume such a leadership role. And I know he has asked David
Weaver to work with each of you to decide how you can best
respond to this challenge.
The results will be profound -- for yourselves, your
employees, for the legacy we leave our children. We all want a
world at peace; strong, wholesome families; and rewarding jobs
for all who seek them. We have it in our power to create such a
legacy --- a legacy worthy of this great country. I thank you for
helping make that legacy a reality.
God bless you, and God bless the United States of America.
#
#
#
#
Document No. 322700ss
WHITE HOUSE STAFFING MEMORANDUM
DATE:
4/20/92
ACTION/CONCURRENCE/COMMENT DUE BY:
PRESIDENTIAL REMARKS: YOUNG PRESIDENTS' ORGANIZATION
SUBJECT:
TUESDAY, APRIL 21
ACTION FYI
ACTION FYI
VICE PRESIDENT
HORNER
SKINNER
MCBRIDE
SCOWCROFT
MOORE
DARMAN
PETERSMEYER
BRADY
PORTER
BROMLEY
ROGICH
CALIO
ROLLINS
DEMAREST
SMITH
YEUTTER
FITZWATER
GRAY
FINDLAY
HOLIDAY
KAUFMAN
BOSKIN
MCGROARTY
REMARKS:
The attached has been forwarded to the President.
RESPONSE:
PHILLIP D. BRADY
Assistant to the President
and Staff Secretary
Ext. 2702
THE WHITE HOUSE
WASHINGTON
2 APR 20 P5: 45
April 20, 1992
MEMORANDUM FOR THE PRESIDENT
THROUGH:
4
DAVID DEMAREST
FROM:
ANDREW FERGUSON
SUBJECT:
REMARKS TO THE YOUNG PRESIDENTS ORGANIZATION
On Tuesday, April 21 at 2:00 p.m. you will deliver remarks
(8 minutes, cards) to the Young Presidents Organization in Room
450 of the OEOB. Your remarks focus on your commitment to
economic growth, particularly free trade, and include a challenge
to your audience to deepen their commitment to voluntary
community service.
(Ferguson/Aarhus)
April 20, 1992
Draft Four
YPO
PRESIDENT REMARKS: YOUNG PRESIDENTS ORGANIZATION
ROOM 450
TUESDAY, APRIL 21, 1992
2:00 PM
[Acknowledgments)]
I am pleased to be with you today. This afternoon I'd like
to briefly address a few issues of concern to all Americans, but
particularly to those of you in the business world. Your
creativity and know-how are the fuel that creates our country's
wealth and provides rewarding and fulfilling jobs for our
communities.
The role of government in free enterprise is to allow your
creativity to flourish. And that translates into growth. For
the past three years I have promoted sensible policies that will
help you expand your businesses and create jobs. Let me assure
you: we will continue to fight for our economic growth agenda.
Last week, as you know, we had some more heartening news
about the economy. All around the world, consumers and companies
buy American goods and services in ever greater amounts, despite
the sluggish performance of some of their own economies. U.S.
exports are experiencing a surge, rising 7 percent in February to
a record high of almost $38 billion. And once again,
manufacturing exports are leading the way.
This good news underscores a fundamental truth about
American competitiveness: If we are to succeed economically at
home, we must succeed economically abroad. The evidence is
2
indisputable: open markets and free trade mean jobs for American
workers and growth for American companies. Over the past four
decades, trade-related jobs in our country have grown three times
faster than overall American job creation.
We must build on this astounding success. Already, over the
past six years, our exports to Mexico have nearly tripled,
creating more than 300,000 jobs here at home. We want to lock in
those gains with a North American Free Trade Agreement -- NAFTA.
With Canada and Mexico, NAFTA will establish one of the world's
largest trading areas, a $6 trillion market from the Yukon to the
Yucatan. That will mean hundreds of thousands of new jobs for
U.S. workers.
And tomorrow I will meet with Jacques Delors, president of
the EC Commission, and Prime Minister Cavaco Silva, president of
the European Council, to discuss the Uruguay round of GATT, the
world trade negotiations. Over the next decade, a successful
conclusion of the Uruguay Round could pump $5 trillion into the
global economy. The U.S. share of this growth would top $1
trillion. No one should doubt my resolve to preserve and expand
the worldwide regime of open trade. GATT must be preserved, for
this reason: American workers and companies deserve the jobs and
opportunities these open markets offer.
I know that there's still much we can do to make America
even more competitive. One of our serious economic problems
right now is the cost of capital. It's too high. That's why I
will continue to fight for a cut in the tax rate on capital
3
gains. A high cap-gains rate merely discourages investment, and
thus business expansion and job creation.
None of our major industrial competitors taxes capital gains
at rates comparable to ours. Germany doesn't tax long-term
capital gains at all. In Japan, an entrepreneur who sells the
company he's built from scratch pays a tax of one percent.
Yet the very people who complain about America's ability to
compete block our every effort to lower the capital gains tax. A
lower cap-gains rate will benefit virtually everyone in America -
- not only those who run a business but anyone who owns a house
or a share of stock, or anyone who seeks a better job. It's time
to stop punishing the pursuit of excellence. It's time to cut
the tax on capital gains.
We are also working to lighten the regulatory burden that
Washington imposes on American business. You may recall that
last January I announced a 90-day moratorium on federal
regulations. Wherever possible, we have blocked those
regulations that discourage growth; and we are accelerating those
that encourage growth. So far, preliminary estimates show that
we've saved American business ten-to-twenty billion dollars in
regulatory costs. I will soon be making an announcement about
our continuing battle against excessive regulations, but for now
I can confidently tell you: The days of over-regulation are just
that -- over.
We are pursuing comprehensive reforms in other areas that
directly relate to America's long-term competitiveness. We've
4
proposed a market-based health-care reform, to control
skyrocketing costs and bring coverage to the uninsured. Through
our America 2000 initiative, we are intensifying our efforts to
revolutionize -- literally reinvent -- American education, to
create the most highly skilled workforce in the world. And we've
introduced important steps to reform our legal system, to put an
end to the frivolous lawsuits that mire so many businesses and
individuals in a bottomless swamp of litigation. We must sue
each other less and start helping each other more.
And that brings me to a final point. The fact is, none of
our pressing social problems will be solved without the voluntary
involvement of individuals and communities. From the first day
of this administration, I have called on every American to become
a Point of Light -- to bring hope to the hopeless, help to the
helpless, love and care to those in need.
Right here in your organizations, you'll find examples of
what I'm talking about. People like Gay Mayer, who works with a
drug rehabilitation program in his area -- and has helped more
than 100 young adults recover from the ravages of drug abuse to
lead productive lives. or Joseph Lobozzo, who spends his
Wednesday nights counseling children of alcoholics.
I would like today to challenge you to join these men in a
movement that is transforming our country. First, I ask you to
make your company a Point of Light, by personally devoting much
of your own time to community service and encouraging your
employees to do the same. Second, you can encourage other
5
leaders in your community to make voluntary service part of their
own missions as well. And finally, you can work among your vast
memberships to help America itself become a nation filled with
Communities of Light.
Doug Glant tells me there is support among your members to
assume such a leadership role. And I know he has asked David
Weaver to work with each of you to decide how you can best
respond to this challenge.
The results will be profound -- for yourselves, your
employees, for the legacy we leave our children. We all want a
world at peace; strong, wholesome families; and rewarding jobs
for all who seek them. We have it in our power to create such a
legacy -- a legacy worthy of this great country. I thank you for
helping make that legacy a reality.
God bless you, and God bless the United States of America.
#
#
#
#
DRAFT 4/21/92
RIO CONFERENCE
The attendance of the U.S. President at the Rio Conference would
could
add a major political impetus to the undertaking. But it would
also commit the United States to a course of action that could
dramatically impede long-term economic growth in this country. I amcometed to
The
of international cooperation to preserve the world's environment. is obscour.
Therefore, I can tell you that I would like to go to this
That is why
the Conference
conference, But I will not go to Rio ^ and make a bad deal. I will
not sign an agreement that does not protect the environment and
the economy of our country. But I cannot make the final decision
until we have negotiated for every advantage that America can
take to these deliberations. [For anyone to play politics with
the Rio Conference at this point would severely undercut the U.S.
position as we try to assure a world view that will protect the
This juy in for
Tis delicate Time this is the true for
environment and the economy ]
To play politics with the Rio
Conference severely undercuts the U.S. position as we try to
woun
assure a world view that will protect the environment and the
economy We will intensely consider this matter in the days
ahead, and I will let you know very soon our final decision on my
attendance in Rio.
THE WHITE HOUSE
WASHINGTON
April 20, 1992
MEMORANDUM FOR THE PRESIDENT
THROUGH:
4
DAVID DEMAREST
FROM:
ANDREW FERGUSON at
SUBJECT:
REMARKS TO THE YOUNG PRESIDENTS ORGANIZATION
On Tuesday, April 21 at 2:00 p.m. you will deliver remarks
(8 minutes, cards) to the Young Presidents Organization in Room
450 of the OEOB. Your remarks focus on your commitment to
economic growth, particularly free trade, and include a challenge
to your audience to deepen their commitment to voluntary
community service.
(Ferguson/Aarhus)
April 20, 1992
Draft Four
YPO
PRESIDENT REMARKS: YOUNG PRESIDENTS ORGANIZATION
ROOM 450
TUESDAY, APRIL 21, 1992
2:00 PM
[Acknowledgments]
I am pleased to be with you today. This afternoon I'd like
to briefly address a few issues of concern to all Americans, but
particularly to those of you in the business world. Your
creativity and know-how are the fuel that creates our country's
wealth and provides rewarding and fulfilling jobs for our
communities.
The role of government in free enterprise is to allow your
creativity to flourish. And that translates into growth. For
the past three years I have promoted sensible policies that will
help you expand your businesses and create jobs. Let me assure
you: we will continue to fight for our economic growth agenda.
Last week, as you know, we had some more heartening news
about the economy. All around the world, consumers and companies
buy American goods and services in ever greater amounts, despite
the sluggish performance of some of their own economies. U.S.
exports are experiencing a surge, rising 7 percent in February to
a record high of almost $38 billion. And once again,
manufacturing exports are leading the way.
This good news underscores a fundamental truth about
American competitiveness: If we are to succeed economically at
home, we must succeed economically abroad. The evidence is
2
indisputable: open markets and free trade mean jobs for American
workers and growth for American companies. Over the past four
decades, trade-related jobs in our country have grown three times
faster than overall American job creation.
We must build on this astounding success. Already, over the
past six years, our exports to Mexico have nearly tripled,
creating more than 300,000 jobs here at home. We want to lock in
those gains with a North American Free Trade Agreement -- NAFTA.
With Canada and Mexico, NAFTA will establish one of the world's
largest trading areas, a $6 trillion market from the Yukon to the
Yucatan. That will mean hundreds of thousands of new jobs for
U.S. workers.
And tomorrow I will meet with Jacques Delors, president of
the EC Commission, and Prime Minister Cavaco Silva, president of
the European Council, to discuss the Uruguay round of GATT, the
world trade negotiations. Over the next decade, a successful
conclusion of the Uruguay Round could pump $5 trillion into the
global economy. The U.S. share of this growth would top $1
trillion. No one should doubt my resolve to preserve and expand
the worldwide regime of open trade. GATT must be preserved, for
this reason: American workers and companies deserve the jobs and
opportunities these open markets offer.
I know that there's still much we can do to make America
even more competitive. One of our serious economic problems
right now is the cost of capital. It's too high. That's why I
will continue to fight for a cut in the tax rate on capital
3
gains. A high cap-gains rate merely discourages investment, and
thus business expansion and job creation.
None of our major industrial competitors taxes capital gains
at rates comparable to ours. Germany doesn't tax long-term
capital gains at all. In Japan, an entrepreneur who sells the
company he's built from scratch pays a tax of one percent.
Yet the very people who complain about America's ability to
compete block our every effort to lower the capital gains tax. A
lower cap-gains rate will benefit virtually everyone in America -
- not only those who run a business but anyone who owns a house
or a share of stock, or anyone who seeks a better job. It's time
to stop punishing the pursuit of excellence. It's time to cut
the tax on capital gains.
We are also working to lighten the regulatory burden that
Washington imposes on American business. You may recall that
last January I announced a 90-day moratorium on federal
regulations. Wherever possible, we have blocked those
regulations that discourage growth; and we are accelerating those
that encourage growth. So far, preliminary estimates show that
we've saved American business ten-to-twenty billion dollars in
regulatory costs. I will soon be making an announcement about
our continuing battle against excessive regulations, but for now
I can confidently tell you: The days of over-regulation are just
that -- over.
We are pursuing comprehensive reforms in other areas that
directly relate to America's long-term competitiveness. We've
4
proposed a market-based health-care reform, to control
skyrocketing costs and bring coverage to the uninsured. Through
our America 2000 initiative, we are intensifying our efforts to
revolutionize -- literally reinvent -- American education, to
create the most highly skilled workforce in the world. And we've
introduced important steps to reform our legal system, to put an
end to the frivolous lawsuits that mire so many businesses and
individuals in a bottomless swamp of litigation. We must sue
each other less and start helping each other more.
And that brings me to a final point. The fact is, none of
our pressing social problems will be solved without the voluntary
involvement of individuals and communities. From the first day
of this administration, I have called on every American to become
a Point of Light -- to bring hope to the hopeless, help to the
helpless, love and care to those in need.
Right here in your organizations, you'll find examples of
what I'm talking about. People like Gay Mayer, who works with a
drug rehabilitation program in his area -- and has helped more
than 100 young adults recover from the ravages of drug abuse to
lead productive lives. or Joseph Lobozzo, who spends his
Wednesday nights counseling children of alcoholics.
I would like today to challenge you to join these men in a
movement that is transforming our country. First, I ask you to
make your company a Point of Light, by personally devoting much
of your own time to community service and encouraging your
employees to do the same. Second, you can encourage other
5
leaders in your community to make voluntary service part of their
own missions as well. And finally, you can work among your vast
memberships to help America itself become a nation filled with
Communities of Light.
Doug Glant tells me there is support among your members to
assume such a leadership role. And I know he has asked David
Weaver to work with each of you to decide how you can best
respond to this challenge.
The results will be profound -- for yourselves, your
employees, for the legacy we leave our children. We all want a
world at peace; strong, wholesome families; and rewarding jobs
for all who seek them. We have it in our power to create such a
legacy -- a legacy worthy of this great country. I thank you for
helping make that legacy a reality.
God bless you, and God bless the United States of America.
#
#
#
#
Dan -
Gray's office said there were
no kgal complications except that
we should check the referree on
page 2 to "blocking" regulation. He
just wanted to clear the lingo or
the regulatory moretorium.
Portur's office is checking around
for the Specibes.
Document No. 322700SS
WHITE HOUSE STAFFING MEMORANDUM
4/17/92
ACTION/CONCURRENCE/COMMENT DUE BY: 11:00AM, MON., APR. 20
DATE:
PRESIDENTIAL REMARKS: YOUNG PRESIDENTS ORGANIZATION
ROOM 450
SUBJECT:
TUESDAY, APRIL 21, 1992
2:00PM
ACTION FYI
ACTION FYI
VICE PRESIDENT
Macin,
HORNER
SKINNER
MCBRIDE
sent to
SCOWCROFT
MOORE
Andy dreatly
on
on
way
DARMAN
PETERSMEYER
wey
BRADY
PORTER
not
BROMLEY
here
ROGICH
No
comment
CALIO
w/c
coment No ROLLINS N/C
x
DEMAREST
SMITH
YEUTTER
FITZWATER
GRAY stafted out
FINDLAY
KAUFMAN
HOLIDAY sent
MCGROARTY
REMARKS:
BOSKIN N/C
Please provide comments on the attached directly to
Dan McGroarty, Rm. 122, x2930, with a copy to this
office NO LATER THAN 11:00AM, MONDAY, APRIL 20.
Thank you.
RESPONSE:
PHILLIP D. BRADY
Assistant to the President
and Staff Secretary
Ext. 2702
(Ferguson/Aarhus)
April 16, 1992
Draft One
32 APR P12 : 53
YPO
PRESIDENT REMARKS: YOUNG PRESIDENTS ORGANIZATION
ROOM 450
TUESDAY, APRIL 21, 1992
2:00 PM
[Acknowledgments]
I am pleased to be with you today. This afternoon I'd like
briefly to address a few issues of concern to all Americans, but
particularly to those of you in the business world. Your
creativity and know-how are the fuel that creates our country's
wealth and provides rewarding and fulfilling jobs for our
communities.
The role of government in free enterprise is to allow your
creativity to flourish. And that translates into growth. I have
tried, as you know, to promote sensible policies conducive to
economic growth. Earlier this year, I proposed to the Congress a
seven-point plan to jumpstart our economy.
Unfortunately, the Democrats in Congress had other ideas.
Instead of offering a serious, growth-oriented package of their
own, they sent me a grabbag of tax-and-spend proposals.
I drew the line against those new taxes, and I've made it
clear that I will not allow them to abandon the budget discipline
that is our best hope of controlling government spending.
But I want to assure you today: our agenda for economic
growth is very much alive.
One of our serious economic problems right now is the cost
of capital. It's too high. That's why I will continue to fight
for a cut in the tax rate on capital gains. A high cap gains
2
rate merely discourages investment, and thus business expansion
and job creation.
None of our major industrial competitors taxes capital gains
at rates comparable to ours Germany doesn't tax long-term cap
gains at all; Japan taxes them at a rate of one percent.
Yet the very people who complain about America's ability to
compete vehemently oppose giving business this essential
competitive tool. A lower cap-gains rate will benefit virtually
everyone in America -- not only those who run a business but
anyone who owns a house or a share of stock, or anyone who seeks
a better job. It's time to stop punishing the pursuit of
excellence. It's time to cut the tax on capital gains.
We are also working to lighten the regulatory burden that
Washington imposes on American business. You may recall that
last January I announced a 90-day moratorium on federal
regulations. Wherever possible, we have blocked those
regulations that discourage growth; and we are accelerating those
that encourage growth. I will soon be reporting on the results
of our moratorium, and I think that you -- and anyone who cares
about our economic recovery -- will be pleased with the results.
But I can confidently tell you now: The day of over-regulation is
just that -- over.
We are pursuing comprehensive reforms in other areas that
directly relate to America's long-term competitiveness. We've
proposed a market-based health-care reform, to control
skyrocketing costs and bring coverage to the uninsured. Through
3
our America 2000 initiative, we are continuing our efforts to
revolutionize -- literally reinvent -- American education, to
create the most highly skilled workforce in the world. And we've
introduced important steps to reform our legal system, to put an
end to the frivolous lawsuits that mire so many businesses and
individuals in a bottomless swamp of litigation. We must start
suing each other less and helping each other more.
And that brings me to a final point. The fact is, none of
our pressing social problems will be solved without the voluntary
involvement of individuals and communities. From the first day
of this administration, I have called on every American to become
a Point of Light -- to bring hope to the hopeless, help to the
helpless, love and care to those in need.
Right here in your organizations, you'll find perfect
examples of what I'm talking about. People like
[placeholder
for YPO examples of community service.]
There is in America a vast reservoir of problem-solving
energy waiting to be tapped. Each of you, I know, is a leader in
your community. I would like today to challenge you to join
people like [...] in a movement that is transforming our country.
I ask you to make your company a Point of Light, by personally
devoting much of your own time to community service and
encouraging your employees to do the same. You can encourage
other community leaders to join in your efforts, to make yours a
Community of Light.
0
4
The results will be profound -- for yourselves, your
employees, for the legacy we leave our children. We all want a
world at peace; strong, wholesome families; and rewarding jobs
for all who seek them. We have it in our power to create such a
legacy -- a legacy worthy of this great country. I thank you for
helping make that legacy a reality.
God bless you, and God bless the United States of America.
#
#
#
#
THE WHITE HOUSE
WASHINGTON
April 20, 1992
MEMORANDUM FOR DAN McGROARTY
FROM:
ROGER B. PORTER RBP
SUBJECT:
Presidential Remarks: Young Presidents
Organization
We have reviewed the attached remarks and have noted a few
suggested changes on the draft.
Please let us know if you have any questions or if we may
help in any other way.
CC: Phillip D. Brady
92 APR 20 P4: 38
Document No.
322700SS
WHITE HOUSE STAFFING MEMORANDUM
mH
RN
-EW
4/17/92
11:00AM, MON., APR. 20
DATE:
ACTION/CONCURRENCE/COMMENT DUE BY:
PRESIDENTIAL REMARKS: YOUNG PRESIDENTS ORGANIZATION
ROOM 450
SUBJECT:
TUESDAY, APRIL 21, 1992
2:00PM
ACTION FYI
ACTION FYI
VICE PRESIDENT
HORNER
SKINNER
MCBRIDE
SCOWCROFT
MOORE
DARMAN
PETERSMEYER
BRADY
PORTER
BROMLEY
ROGICH
CALIO
ROLLINS
DEMAREST
SMITH
YEUTTER
FITZWATER
GRAY
FINDLAY
KAUFMAN
HOLIDAY
MCGROARTY
REMARKS:
BOSKIN
Please provide comments on the attached directly to
Dan McGroarty, Rm. 122, x2930, with a copy to this
office NO LATER THAN 11:00AM, MONDAY, APRIL 20.
Thank you.
RESPONSE:
PHILLIP D. BRADY
Assistant to the President
and Staff Secretary
Ext. 2702
(Ferguson/Aarhus)
April 16, 1992
Draft One
2 APR 17 P12 : 53
YPO
PRESIDENT REMARKS: YOUNG PRESIDENTS ORGANIZATION
ROOM 450
TUESDAY, APRIL 21, 1992
2:00 PM
[Acknowledgments]
I am pleased to be with you today. This afternoon I'd like
briefly to address a few issues of concern to all Americans, but
particularly to those of you in the business world. Your
creativity and know-how are the fuel that creates our country's
wealth and provides rewarding and fulfilling jobs for our
communities.
The role of government in free enterprise is to allow your
creativity to flourish. And that translates into growth. I have
tried, as you know, I promoteV sensible policies conducive to
D
TRANSMITTED
economic growth. Earlier this year, I proposed to the Congress a
seven-point plan to jumpstart our economy.
Unfortunately, the Democrats in Congress had other ideas.
RESPONSIBLE
Instead of offering a serious, growth-oriented package of their
own, they sent me a grabbag of tax-and-spend proposals.
I drew the line against those new taxes, and I've made it
clear that I will not allow them to abandon the budget discipline
that is our best hope of controlling government spending.
But I want to assure you today: our agenda for economic
growth is very much alive
One of our serious economic problems right now is the cost
of capital. It's too high. That's why I will continue to fight
ITAL
for a cut in the tax rate on capital gains. A high cap gains
2
rate merely discourages investment, and thus business expansion
and job creation.
None of our major industrial competitors taxes capital gains
at rates comparable to ours. Germany doesn't tax long-term cap
ITAL
gains at all; Japan taxes them at a rate of one percent.
Yet the very people who complain about America's ability to
compete vehemently oppose giving business this essential
ITAL
competitive tool. A lower cap gains rate will benefit virtually
everyone in America -- not only those who run a business but
anyone who owns a house or a share of stock, or anyone who seeks
a better job. It's time to stop punishing the pursuit of
excellence. It's time to cut the tax on capital gains.
REDUCE
We are also working to lighten the regulatory burden that
Washington imposes on American business. You may recall that
last January I announced a 90-day moratorium on federal
regulations. Wherever possible, we have blocked those
regulations that discourage growth; and we are accelerating those
that encourage growth. I will soon be reporting on the results
of our moratorium, and I think that you -- and anyone who cares
about our economic recovery -- will be pleased with the results.
But I can confidently tell you now: The day of over-regulation is
just that -- over.
We are pursuing comprehensive reforms in other areas that
directly relate to America's long-term competitiveness. We've
proposed a market-based health-care reform, to control
skyrocketing costs and bring coverage to the uninsured. Through
3
our America 2000 initiative, we are continuing our efforts to
revolutionize -- literally reinvent -- American education, to
create the most highly skilled workforce in the world. And we've
introduced important steps to reform our legal system, to put an
end to the frivolous lawsuits that mire so many businesses and
individuals in a bottomless swamp of litigation. We must start
suing each other less and helping each other more.
And that brings me to a final point. The fact is, none of
our pressing social problems will be solved without the voluntary
involvement of individuals and communities. From the first day
of this administration, I have called on every American to become
a Point of Light -- to bring hope to the hopeless, help to the
helpless, love and care to those in need.
Right here in your organizations, you'll find perfect
examples of what I'm talking about. People like
[placeholder
for YPO examples of community service.]
There is in America a vast reservoir of problem-solving
energy waiting to be tapped. Each of you, I know, is a leader in
your community. I would like today to challenge you to join
people like [...] in a movement that is transforming our country.
I ask you to make your company a Point of Light, by personally
devoting much of your own time to community service and
encouraging your employees to do the same. You can encourage
other community leaders to join in your efforts, to make yours a
Community of Light.
4
The results will be profound -- for yourselves, your
employees, for the legacy we leave our children. We all want a
world at peace; strong, wholesome families; and rewarding jobs
for all who seek them. We have it in our power to create such a
legacy -- a legacy worthy of this great country. I thank you for
helping make that legacy a reality.
God bless you, and God bless the United States of America.
# # # #
Document No. 322700SS
WHITE HOUSE STAFFING MEMORANDUM
92 APR 20. P3: 52
4/17/92
ACTION/CONCURRENCE/COMMENT DUE BY: 11:00AM, MON., APR. 20
DATE:
PRESIDENTIAL REMARKS: YOUNG PRESIDENTS ORGANIZATION
ROOM 450
SUBJECT:
TUESDAY, APRIL 21, 1992
2:00PM
ACTION FYI
ACTION FYI
VICE PRESIDENT
HORNER
SKINNER
MCBRIDE
SCOWCROFT
MOORE
DARMAN
PETERSMEYER
BRADY
PORTER
BROMLEY
ROGICH
CALIO
ROLLINS
DEMAREST
SMITH
YEUTTER
FITZWATER
FINDLAY
GRAY
KAUFMAN
HOLIDAY
MCGROARTY
BOSKIN
REMARKS:
Please provide comments on the attached directly to
Dan McGroarty, Rm. 122, x2930, with a copy to this
office NO LATER THAN 11:00AM, MONDAY, APRIL 20.
Thank you.
RESPONSE:
Please Community
part
Thank gun
PHILLIP D. BRADY
Assistant to the President
and Staff Secretary
Ext. 2702
(Ferguson/Aarhus)
April 16, 1992
Draft One
02 APR 17 P|2 : 53
YPO
PRESIDENT REMARKS: YOUNG PRESIDENTS ORGANIZATION
ROOM 450
TUESDAY, APRIL 21, 1992
2:00 PM
[Acknowledgments]
I am pleased to be with you today. This afternoon I'd like
briefly to address a few issues of concern to all Americans, but
particularly to those of you in the business world. Your
creativity and know-how are the fuel that creates our country's
wealth and provides rewarding and fulfilling jobs for our
communities.
The role of government in free enterprise is to allow your
creativity to flourish. And that translates into growth. I have
tried, as you know, to promote sensible policies conducive to
economic growth. Earlier this year, I proposed to the Congress a
seven-point plan to jumpstart our economy.
Unfortunately, the Democrats in Congress had other ideas.
Instead of offering a serious, growth-oriented package of their
own, they sent me a grabbag of tax-and-spend proposals.
I drew the line against those new taxes, and I've made it
clear that I will not allow them to abandon the budget discipline
that is our best hope of controlling government spending.
But I want to assure you today: our agenda for economic
growth is very much alive.
One of our serious economic problems right now is the cost
of capital. It's too high. That's why I will continue to fight
for a cut in the tax rate on capital gains. A high cap gains
2
rate merely discourages investment, and thus business expansion
and job creation.
None of our major industrial competitors taxes capital gains
at rates comparable to ours. Germany doesn't tax long-term cap
gains at all; Japan taxes them at a rate of one percent.
Yet the very people who complain about America's ability to
compete vehemently oppose giving business this essential
competitive tool. A lower cap-gains rate will benefit virtually
everyone in America -- not only those who run a business but
anyone who owns a house or a share of stock, or anyone who seeks
a better job. It's time to stop punishing the pursuit of
excellence. It's time to cut the tax on capital gains.
We are also working to lighten the regulatory burden that
Washington imposes on American business. You may recall that
last January I announced a 90-day moratorium on federal
regulations. Wherever possible, we have blocked those
regulations that discourage growth; and we are accelerating those
that encourage growth. I will soon be reporting on the results
of our moratorium, and I think that you -- and anyone who cares
about our economic recovery -- will be pleased with the results.
But I can confidently tell you now: The day of over-regulation is
just that -- over.
We are pursuing comprehensive reforms in other areas that
directly relate to America's long-term competitiveness. We've
proposed a market-based health-care reform, to control
skyrocketing costs and bring coverage to the uninsured. Through
3
our America 2000 initiative, we are continuing our efforts to
revolutionize -- literally reinvent -- American education, to
create the most highly skilled workforce in the world. And we've
introduced important steps to reform our legal system, to put an
end to the frivolous lawsuits that mire so many businesses and
individuals in a bottomless swamp of litigation. We must start
suing each other less and helping each other more.
And that brings me to a final point. The fact is, none of
our pressing social problems will be solved without the voluntary
involvement of individuals and communities. From the first day
of this administration, I have called on every American to become
a Point of Light -- to bring hope to the hopeless, help to the
helpless, love and care to those in need.
Right here in your organizations, you'll find perfect
examples of what I'm talking about. People like
[placeholder
for YPO examples of community service.]
There is in America a vast reservoir of problem-solving
energy waiting to be tapped. Each of you, I know, is a leader in
your community. I would like today to challenge you to join
people like
[...] in a movement that is transforming our country.
FiRST, I ask you to make your company a Point of Light, by personally
direct and consequential
devoting much of your own time to a community service and
encouraging your employees to do the same. INSERTA You can encourage-
other community leaders to join in your efforts, to make yours a
Community of Light.
4
The results will be profound -- for yourselves, your
employees, for the legacy we leave our children. We all want a
world at peace; strong, wholesome families; and rewarding jobs
for all who seek them. We have it in our power to create such a
legacy -- a legacy worthy of this great country. I thank you for
helping make that legacy a reality.
God bless you, and God bless the United States of America.
# # # #
INSERT A
Second, become a leader of leaders by encouraging the heads of
of other companies and groups in your community to include
voluntary service as part of the mission of their own
organizations. Finally, work among your vast memberships to help
America itself become a nation filled with Communities of Light.
I know from Doug Glant, Mac Jason and Harry Brock that there is
support from among your membership to assume a leadership role in
creating Communities of Light. And I know that Doug has asked
David Weaver to assume a role of working with each of you to
decide how you can best respond to this challenge.
Document No. 322700SS
WHITE HOUSE STAFFING MEMORANDUM
92 APR 20 P2:16
4/17/92
ACTION/CONCURRENCE/COMMENT DUE BY: 11:00AM, MON., APR. 20
DATE:
PRESIDENTIAL REMARKS: YOUNG PRESIDENTS ORGANIZATION
ROOM 450
SUBJECT:
TUESDAY, APRIL 21, 1992
2:00PM
ACTION FYI
ACTION FYI
VICE PRESIDENT
HORNER
SKINNER
MCBRIDE
SCOWCROFT
MOORE
DARMAN
PETERSMEYER
P
BRADY
PORTER
BROMLEY
ROGICH
CALIO
ROLLINS
>
DEMAREST
SMITH
YEUTTER
FITZWATER
FINDLAY
GRAY
KAUFMAN
HOLIDAY
MCGROARTY
BOSKIN
REMARKS:
Please provide comments on the attached directly to
Dan McGroarty, Rm. 122, x2930, with a copy to this
office NO LATER THAN 11:00AM, MONDAY, APRIL 20.
Thank you.
RESPONSE:
what about trade, i.e. YPO = exports
d trade good speech- NOT! (campaign)
PHILLIP D. BRADY
Assistant to the President
and Staff Secretary
Ext. 2702
(Ferguson/Aarhus)
April 16, 1992
Draft One
02 APR 17 P12 : 53
YPO
PRESIDENT REMARKS: YOUNG PRESIDENTS ORGANIZATION
ROOM 450
TUESDAY, APRIL 21, 1992
2:00 PM
[Acknowledgments]
I am pleased to be with you today. This afternoon I'd like
briefly to address a few issues of concern to all Americans, but
particularly to those of you in the business world. Your
creativity and know-how are the fuel that creates our country's
wealth and provides rewarding and fulfilling jobs for our
communities.
The role of government in free enterprise is to allow your
creativity to flourish. And that translates into growth. I have
tried, as you know, to promote sensible policies conducive to
economic growth. Earlier this year, I proposed to the Congress a
seven-point plan to jumpstart our economy.
Unfortunately, the Democrats in Congress had other ideas.
Instead of offering a serious, growth-oriented package of their
own, they sent me a grabbag of tax-and-spend proposals.
I drew the line against those new taxes, and I've made it
clear that I will not allow them to abandon the budget discipline
that is our best hope of controlling government spending.
But I want to assure you today: our agenda for economic
growth is very much alive.
One of our serious economic problems right now is the cost
of capital. It's too high. That's why I will continue to fight
for a cut in the tax rate on capital gains. A high cap gains
2
rate merely discourages investment, and thus business expansion
and job creation.
None of our major industrial competitors taxes capital gains
at rates comparable to ours. Germany doesn't tax long-term cap
gains at all; Japan taxes them at a rate of one percent.
Yet the very people who complain about America's ability to
compete vehemently oppose giving business this essential
competitive tool. A lower cap-gains rate will benefit virtually
everyone in America -- not only those who run a business but
anyone who owns a house or a share of stock, or anyone who seeks
a better job. It's time to stop punishing the pursuit of
excellence. It's time to cut the tax on capital gains.
We are also working to lighten the regulatory burden that
Washington imposes on American business. You may recall that
last January I announced a 90-day moratorium on federal
regulations. Wherever possible, we have blocked those
regulations that discourage growth; and we are accelerating those
that encourage growth. I will soon be reporting on the results
of our moratorium, and I think that you -- and anyone who cares
about our economic recovery -- will be pleased with the results.
But I can confidently tell you now: The day of over-regulation is
just that -- over.
We are pursuing comprehensive reforms in other areas that
directly relate to America's long-term competitiveness. We've
proposed a market-based health-care reform, to control
skyrocketing costs and bring coverage to the uninsured. Through
3
our America 2000 initiative, we are continuing our efforts to
revolutionize -- literally reinvent -- American education, to
create the most highly skilled workforce in the world. And we've
introduced important steps to reform our legal system, to put an
end to the frivolous lawsuits that mire so many businesses and
individuals in a bottomless swamp of litigation. We must start
suing each other less and helping each other more.
And that brings me to a final point. The fact is, none of
our pressing social problems will be solved without the voluntary
involvement of individuals and communities. From the first day
of this administration, I have called on every American to become
a Point of Light -- to bring hope to the hopeless, help to the
helpless, love and care to those in need.
Right here in your organizations, you'll find perfect
examples of what I'm talking about. People like
[placeholder
for YPO examples of community service.]
There is in America a vast reservoir of problem-solving
energy waiting to be tapped. Each of you, I know, is a leader in
your community. I would like today to challenge you to join
people like
[...]
in a movement that is transforming our country.
I ask you to make your company a Point of Light, by personally
devoting much of your own time to community service and
encouraging your employees to do the same. You can encourage
other community leaders to join in your efforts, to make yours a
Community of Light.
4
The results will be profound -- for yourselves, your
employees, for the legacy we leave our children. We all want a
world at peace; strong, wholesome families; and rewarding jobs
for all who seek them. We have it in our power to create such a
legacy -- a legacy worthy of this great country. I thank you for
helping make that legacy a reality.
God bless you, and God bless the United States of America.
# # # #
SENT BY:Xerox Telecopier 7020 ; 4-20-92 ; 6:26AM ;
The White House-
OPD;# 7
Document No. 322700SS
WHITE HOUSE STAFFING MEMORANDUM
4/17/92
DATE:
ACTION/CONCURRENCE/COMMENT DUE BY: 11:00AM, MON., APR. 20
PRESIDENTIAL REMARKS: YOUNG PRESIDENTS ORGANIZATION
ROOM 450
SUBJECT:
TUECDAY, APRIL 21, 1992
2:00PM
ACTION FYI
ACTION FYI
VICE PRESIDENT
HORNER
SKINNER
MCBRIDE
SCOWCROFT
MOORE
DARMAN
PETERSMEYER
BRADY
PORTER
BROMLEY
ROGICH
CALIO
ROLLINS
DEMAREST
SMITH
YEUTTER
FITZWATER
FINDLAY
GRAY
KAUFMAN
HOLIDA
MCGROARTY
BOSKIN
REMARKS:
Please provide comments on the attached directly to
Dan McGroarty, Rm. 122, x2930, with a copy to this
office NO LATER THAN 11:00AM, MONDAY, APRIL 20.
Thank you.
RESPONSE:
See comments. Thanks.
Paul 04/20 PK Karfonta
PHILLIP D. BRADY
Assistant to the President
and Staff Secretary
Ext. 2702
SENT BY:Xerox Telecopier 7020 ; 4-20-92 ; 6:27AM ;
The White House-
OPD:# 8
(Ferguson/Aarhus)
April 16, 1992
Draft One
02 APR P12 : 53
YPO
PRESIDENT REMARKS: YOUNG PRESIDENTS ORGANIZATION
ROOM 450
TUESDAY, APRIL 21, 1992
2:00 PM
[Acknowledgments]
I am pleased to be with you today. This afternoon I'd like
briefly to address a few issues of concern to all Americans, but
particularly to those of you in the business world. Your
creativity and know-how are the fuel that creates our country's
wealth and provides rewarding and fulfilling jobs for our
communities.
The role of government in free enterprise is to allow your
creativity to flourish. And that translates into growth. I have
tried, as you know, to promote sensible policies conducive to
economic growth. Earlier this year, I proposed to the Congress a
seven-point plan to jumpstart our economy.
Unfortunately, the Democrats in Congress had other ideas.
Instead of offering a serious, growth-oriented package of their
own, they sent me a grabbag of tax-and-spend proposals.
I drew the line against those new taxes, and I've made it
clear that I will not allow them to abandon the budget discipline
that is our best hope of controlling government spending.
But I want to assure you today: our agenda for economic
growth is very much alive.
One of our serious economic problems right now is the cost
of capital. It's too high. That's why I will continue to fight
for a cut in the tax rate on capital gains. A high cap gains
SENT BY:Xerox Telecopier 7020 ; 4-20-92 ; 6:27AM ;
The White House-
OPD;# 9
2
rate merely discourages investment, and thus business expansion
and job creation.
(Trasury)
effective
None of our major industrial competitors taxes capital gains
at rates comparable to ours. Germany doesn't tax long-term cap
gains at all; Japan taxes them at a rate of one percent of sales.
(Treas.)
Yet the very people who complain about America's ability to
compete vehemently oppose giving business this essential
competitive tool. A lower cap-gains rate will benefit virtually
everyone in America -- not only those who run a business but
anyone who owns a house or a share of stock, or anyone who seeks
a better job. It's time to stop punishing the pursuit of
excellence. It's time to cut the tax on capital gains.
We are also working to lighten the regulatory burden that
Washington imposes on American business. You may recall that
review (Treasury)
last January I announced a 90-day noratorium on federal
regulations. Wherever possible, we have blocked those
regulations that discourage growth; and we are accelerating those
that encourage growth. I will soon be reporting on the results
of our moratorium, and I think that you -- and anyone who cares
about our economic recovery -- will be pleased with the results.
But I can confidently tell you now: The day of over-regulation is
just that -- over.
(Treas.)
We are pursuing comprehensive reforms in other areas that
Haven't
directly relate to America's long-term competitiveness. We've
In
proposed a market-based health-care reform, to control
language
skyrocketing costs and bring coverage to the uninsured. Through
SENT BY:Xerox Telecopier 7020 ; 4-20-92 ; 6:28AM ;
The White House-
OPD;#10
3
our America 2000 initiative, we are continuing our efforts to
revolutionize -- literally reinvent -- American education, to
create the most highly skilled workforce in the world. And we've
introduced important steps to reform our legal system, to put an
end to the frivolous lawsuits that mire so many businesses and
individuals in a bottomless swamp of litigation. We must start
suing each other less and helping each other more.
And that brings me to a final point. The fact is, none of
our pressing social problems will be solved without the voluntary
involvement of individuals and communities. From the first day
of this administration, I have called on every American to become
a Point of Light -- to bring hope to the hopeless, help to the
helpless, love and care to those in need.
Right here in your organizations, you'll find perfect
examples of what I'm talking about. People like
[placeholder
for YPO examples of community service.]
There is in America a vast reservoir of problem-solving
energy waiting to be tapped. Each of you, I know, is a leader in
your community. I would like today to challenge you to join
people like [...] in a movement that is transforming our country.
I ask you to make your company a Point of Light, by personally
devoting much of your own time to community service and
encouraging your employees to do the same. You can encourage
other community leaders to join in your efforts, to make yours a
Community of Light.
DENT DIABROX relecopier 7020 ; 4-20-92 ; 6:29AM ;
The White House-
OPD;#11
4
The results will be profound -- for yourselves, your
employees, for the legacy we leave our children. We all want a
world at peace; strong, wholesome families; and rewarding jobs
for all who seek them. We have it in our power to create such a
legacy -- a legacy worthy of this great country. I thank you for
helping make that legacy a reality.
God bless you, and God bless the United States of America.
# # # #
Document No. 322700SS
WHITE HOUSE STAFFING MEMORANDUM
4/17/92
ACTION/CONCURRENCE/COMMENT DUE BY: 11:00AM, MON., APR. 20
DATE:
PRESIDENTIAL REMARKS: YOUNG PRESIDENTS ORGANIZATION
ROOM 450
SUBJECT:
TUESDAY, APRIL 21, 1992
2:00PM
ACTION FYI
ACTION FYI
VICE PRESIDENT
HORNER
SKINNER
MCBRIDE
SCOWCROFT
MOORE
DARMAN
PETERSMEYER
P
BRADY
PORTER
BROMLEY
ROGICH
CALIO
ROLLINS
DEMAREST
SMITH
YEUTTER
n
FITZWATER
FINDLAY
P
GRAY
KAUFMAN
HOLIDAY
MCGROARTY
BOSKIN
REMARKS:
Please provide comments on the attached directly to
Dan McGroarty, Rm. 122, x2930, with a copy to this
office NO LATER THAN 11:00AM, MONDAY, APRIL 20.
Thank you.
RESPONSE:
See comments
PHILLIP D. BRADY
Assistant to the President
and Staff Secretary
Ext. 2702
(Ferguson/Aarhus)
April 16, 1992
Draft One
02 APR P12 : 53
YPO
PRESIDENT REMARKS: YOUNG PRESIDENTS ORGANIZATION
ROOM 450
TUESDAY, APRIL 21, 1992
2:00 PM
[Acknowledgments]
I am pleased to be with you today. This afternoon I'd like
briefly to address a few issues of concern to all Americans, but
particularly to those of you in the business world. Your
creativity and know-how are the fuel that creates our country's
wealth and provides rewarding and fulfilling jobs for our
communities.
The role of government in free enterprise is to allow your
creativity to flourish. And that translates into growth. I have
tried, as you know, to promote sensible policies conducive to
economic growth. Earlier this year, I proposed to the Congress a
seven-point plan to jumpstart our economy.
Unfortunately, the Democrats in Congress had other ideas.
Instead of offering a serious, growth-oriented package of their
own, they sent me a grabbag of tax-and-spend proposals.
I drew the line against those new taxes, and I've made it
clear that I will not allow them to abandon the budget discipline
that is our best hope of controlling government spending.
But I want to assure you today: our agenda for economic
growth is very much alive.
One of our serious economic problems right now is the cost
of capital. It's too high. That's why I will continue to fight
for a cut in the tax rate on capital gains. A high cap gains
2
rate merely discourages investment, and thus business expansion
and job creation.
None of our major industrial competitors taxes capital gains
at rates comparable to ours. Germany doesn't tax long-term cap
gains at all; Japan taxes them at a rate of one percent.
Yet the very people who complain about America's ability to
compete vehemently oppose giving business this essential
competitive tool. A lower cap-gains rate will benefit virtually
everyone in America -- not only those who run a business but
anyone who owns a house or a share of stock, or anyone who seeks
a better job. It's time to stop punishing the pursuit of
excellence. It's time to cut the tax on capital gains.
We are also working to lighten the regulatory burden that
Washington imposes on American business. You may recall that
last January I announced a 90-day moratorium on federal
regulations. Wherever possible, we have blocked those
regulations that discourage growth; and we are accelerating those
that encourage growth. I will soon be reporting on the results
of our moratorium, and I think that you -- and anyone who cares
about our economic recovery -- will be pleased with the results.
But I can confidently tell you now: The day of over-regulation is
just that -- over.
We are pursuing comprehensive reforms in other areas that
directly relate to America's long-term competitiveness. We've
proposed a market-based health-care reform, to control
skyrocketing costs and bring coverage to the uninsured. Through
NOTE: Japan taxes capital gains at 1% of sales
of assets
value same
or 20% of actual gain
X5873
3
our America 2000 initiative, we are continuing our efforts to
revolutionize -- literally reinvent -- American education, to
create the most highly skilled workforce in the world. And we've
introduced important steps to reform our legal system, to put an
end to the frivolous lawsuits that mire so many businesses and
individuals in a bottomless swamp of litigation. We must start
suing each other less and helping each other more.
And that brings me to a final point. The fact is, none of
our pressing social problems will be solved without the voluntary
involvement of individuals and communities. From the first day
of this administration, I have called on every American to become
a Point of Light -- to bring hope to the hopeless, help to the
helpless, love and care to those in need.
Right here in your organizations, you'll find perfect
examples of what I'm talking about. People like
[placeholder
for YPO examples of community service.]
There is in America a vast reservoir of problem-solving
energy waiting to be tapped. Each of you, I know, is a leader in
your community. I would like today to challenge you to join
people like [...] in a movement that is transforming our country.
I ask you to make your company a Point of Light, by personally
devoting much of your own time to community service and
encouraging your employees to do the same. You can encourage
other community leaders to join in your efforts, to make yours a
Community of Light.
4
The results will be profound -- for yourselves, your
employees, for the legacy we leave our children. We all want a
world at peace; strong, wholesome families; and rewarding jobs
for all who seek them. We have it in our power to create such a
legacy -- a legacy worthy of this great country. I thank you for
helping make that legacy a reality.
God bless you, and God bless the United States of America.
# # # #
Document No. 322700SS
WHITE HOUSE STAFFING MEMORANDUM
92 APR 20 A7: 38
4/17/92
ACTION/CONCURRENCE/COMMENT DUE BY: 11:00AM, MON., APR. 20
DATE:
PRESIDENTIAL REMARKS: YOUNG PRESIDENTS ORGANIZATION
ROOM 450
SUBJECT:
TUESDAY, APRIL 21, 1992
2:00PM
ACTION FYI
ACTION FYI
VICE PRESIDENT
HORNER
SKINNER
MCBRIDE
SCOWCROFT
MOORE
DARMAN
PETERSMEYER
BRADY
PORTER
BROMLEY
ROGICH
CALIO
ROLLINS
DEMAREST
SMITH
YEUTTER
FITZWATER
FINDLAY
GRAY
KAUFMAN
HOLIDAY
MCGROARTY
BOSKIN
REMARKS:
Please provide comments on the attached directly to
Dan McGroarty, Rm. 122, x2930, with a copy to this
office NO LATER THAN 11:00AM, MONDAY, APRIL 20.
Thank you.
RESPONSE:
1
Note: My understanding from long Rayers (Henson) that this is supposed to be
a trade message otherwise looks great to me. PHILLIP D. BRADY
Assistant to the President
and Staff Secretary
Ext. 2702
(Ferguson/Aarhus)
April 16, 1992
Draft One
32 APR 17 P|2 : 53
YPO
PRESIDENT REMARKS: YOUNG PRESIDENTS ORGANIZATION
ROOM 450
TUESDAY, APRIL 21, 1992
2:00 PM
[Acknowledgments]
I am pleased to be with you today. This afternoon I'd like
briefly to address a few issues of concern to all Americans, but
particularly to those of you in the business world. Your
creativity and know-how are the fuel that creates our country's
wealth and provides rewarding and fulfilling jobs for our
communities.
The role of government in free enterprise is to allow your
creativity to flourish. And that translates into growth. I have
tried, as you know, to promote sensible policies conducive to
economic growth. Earlier this year, I proposed to the Congress a
seven-point plan to jumpstart our economy.
Unfortunately, the Democrats in Congress had other ideas.
Instead of offering a serious, growth-oriented package of their
own, they sent me a grabbag of tax-and-spend proposals.
I drew the line against those new taxes, and I've made it
clear that I will not allow them to abandon the budget discipline
that is our best hope of controlling government spending.
But I want to assure you today: our agenda for economic
growth is very much alive.
One of our serious economic problems right now is the cost
of capital. It's too high. That's why I will continue to fight
for a cut in the tax rate on capital gains. A high cap gains
2
rate merely discourages investment, and thus business expansion
and job creation.
None of our major industrial competitors taxes capital gains
at rates comparable to ours. Germany doesn't tax long-term cap
gains at all; Japan taxes them at a rate of one percent.
Yet the very people who complain about America's ability to
compete vehemently oppose giving business this essential
competitive tool. A lower cap-gains rate will benefit virtually
everyone in America -- not only those who run a business but
anyone who owns a house or a share of stock, or anyone who seeks
a better job. It's time to stop punishing the pursuit of
excellence. It's time to cut the tax on capital gains.
We are also working to lighten the regulatory burden that
Washington imposes on American business. You may recall that
last January I announced a 90-day moratorium on federal
regulations. Wherever possible, we have blocked those
regulations that discourage growth; and we are accelerating those
that encourage growth. I will soon be reporting on the results
of our moratorium, and I think that you -- and anyone who cares
(Exande?
about our economic recovery -- will be pleased with the results.
But I can confidently tell you now: The day of over-regulation is
small
just that -- over.
business
We are pursuing comprehensive reforms in other areas that
Saved directly relate to America's long-term competitiveness. We've
became
proposed a market-based health-care reform, to control
of
D
skyrocketing costs and bring coverage to the uninsured. Through
In
e galations.
3
our America 2000 initiative, we are continuing our efforts to
revolutionize -- literally reinvent -- American education, to
create the most highly skilled workforce in the world. And we've
introduced important steps to reform our legal system, to put an
basefall
end to the frivolous lawsuits that mire so many businesses and
example
individuals in a bottomless swamp of litigation. We must start
suing each other less and helping each other more.
And that brings me to a final point. The fact is, none of
our pressing social problems will be solved without the voluntary
involvement of individuals and communities. From the first day
of this administration, I have called on every American to become
a Point of Light -- to bring hope to the hopeless, help to the
helpless, love and care to those in need.
Right here in your organizations, you'll find perfect
examples of what I'm talking about. People like
[placeholder
all
for YPO examples of community service.]
MUCHITS
There is in America a vast reservoir of problem-solving
energy waiting to be tapped. Each of you, I know, is a leader in
on LIGHT.
your community. I would like today to challenge you to join
people like
[...] in a movement that is transforming our country.
I ask you to make your company a Point of Light, by personally
devoting much of your own time to community service and
encouraging your employees to do the same. You can encourage
other community leaders to join in your efforts, to make yours a
Community of Light.
4
The results will be profound -- for yourselves, your
employees, for the legacy we leave our children. We all want a
world at peace; strong, wholesome families; and rewarding jobs
for all who seek them. We have it in our power to create such a
legacy -- a legacy worthy of this great country. I thank you for
helping make that legacy a reality.
God bless you, and God bless the United States of America.
# # # #
Document No. 322700SS
WHITE HOUSE STAFFING MEMORANDUM
4/17/92
ACTION/CONCURRENCE/COMMENT DUE BY: 11:00AM, MON., APR. 20
DATE:
PRESIDENTIAL REMARKS: YOUNG PRESIDENTS ORGANIZATION
ROOM 450
SUBJECT:
TUESDAY, APRIL 21, 1992
2:00PM
ACTION FYI
ACTION FYI
VICE PRESIDENT
HORNER
SKINNER
MCBRIDE
SCOWCROFT
MOORE
DARMAN
PETERSMEYER
P
BRADY
PORTER
BROMLEY
ROGICH
CALIO
ROLLINS
DEMAREST
SMITH
YEUTTER
FITZWATER
FINDLAY
GRAY
KAUFMAN
HOLIDAY
MCGROARTY
BOSKIN
REMARKS:
Please provide comments on the attached directly to
Day/
Dan McGroarty, Rm. 122, x2930, with a copy to this
office NO LATER THAN 11:00AM, MONDAY, APRIL 20.
Thank you.
where's RESPONSE: the trade? ?
GATT
EC future?
Exports Up this PHILLIP wic. D.
Global Competition?
BRADY
Assistant to the President
Mali
and Staff Secretary
NAFTA?
Ext. 2702
8:10am.
4/20
Document No. 322700SS
WHITE HOUSE STAFFING MEMORANDUM
4/17/92
ACTION/CONCURRENCE/COMMENT DUE BY: 11:00AM, MON., APR. 20
DATE:
PRESIDENTIAL REMARKS: YOUNG PRESIDENTS ORGANIZATION
ROOM 450
SUBJECT:
TUESDAY, APRIL 21, 1992
2:00PM
ACTION FYI
ACTION FYI
VICE PRESIDENT
HORNER
SKINNER
MCBRIDE
SCOWCROFT
MOORE
DARMAN
PETERSMEYER
BRADY
PORTER
BROMLEY
ROGICH
CALIO
ROLLINS
DEMAREST
SMITH
YEUTTER
FITZWATER
FINDLAY
GRAY
KAUFMAN
HOLIDAY
MCGROARTY
BOSKIN
REMARKS:
Please provide comments on the attached directly to
Dan McGroarty, Rm. 122, x2930, with a copy to this
office NO LATER THAN 11:00AM, MONDAY, APRIL 20.
Thank you.
RESPONSE:
as SP
PHILLIP D. BRADY
Assistant to the President
and Staff Secretary
Ext. 2702
(Ferguson/Aarhus)
April 16, 1992
Draft One
02 APR 17 P|2 : 53
YPO
PRESIDENT REMARKS: YOUNG PRESIDENTS ORGANIZATION
ROOM 450
TUESDAY, APRIL 21, 1992
2:00 PM
[Acknowledgments]
I am pleased to be with you today. This afternoon I'd like
briefly to address a few issues of concern to all Americans, but
particularly to those of you in the business world. Your
creativity and know-how are the fuel that creates our country's
wealth and provides rewarding and fulfilling jobs for our
communities.
The role of government in free enterprise is to allow your
creativity to flourish. And that translates into growth. I have
tried, as you know, to promote sensible policies conducive to
economic growth. Earlier this year, I proposed to the Congress a
seven-point plan to jumpstart our economy.
Unfortunately, the Democrats in Congress had other ideas.
Instead of offering a serious, growth-oriented package of their
own, they sent me a grabbag of tax-and-spend proposals.
I drew the line against those new taxes, and I've made it
clear that I will not allow them to abandon the budget discipline
that is our best hope of controlling government spending.
But I want to assure you today: our agenda for economic
growth is very much alive.
One of our serious economic problems right now is the cost
of capital. It's too high. That's why I will continue to fight
for a cut in the tax rate on capital gains. A high cap gains
2
rate merely discourages investment, and thus business expansion
and job creation.
None of our major industrial competitors taxes capital gains
at rates comparable to ours. Germany doesn't tax long-term cap
gains at all; Japan taxes them at a rate of one percent.
Yet the very people who complain about America's ability to
compete vehemently oppose giving business this essential
competitive tool. A lower cap-gains rate will benefit virtually
everyone in America -- not only those who run a business but
anyone who owns a house or a share of stock, or anyone who seeks
a better job. It's time to stop punishing the pursuit of
excellence. It's time to cut the tax on capital gains.
We are also working to lighten the regulatory burden that
Washington imposes on American business. You may recall that
last January I announced a 90-day moratorium on federal
regulations. Wherever possible, we have blocked those
regulations that discourage growth; and we are accelerating those
that encourage growth. I will soon be reporting on the results
of our moratorium, and I think that you -- and anyone who cares
about our economic recovery -- will be pleased with the results.
But I can confidently tell you now: The day of over-regulation is
just that -- over.
We are pursuing comprehensive reforms in other areas that
directly relate to America's long-term competitiveness. We've
proposed a market-based health-care reform, to control
skyrocketing costs and bring coverage to the uninsured. Through
3
our America 2000 initiative, we are continuing our efforts to
revolutionize -- literally reinvent -- American education, to
create the most highly skilled workforce in the world. And we've
introduced important steps to reform our legal system, to put an
end to the frivolous lawsuits that mire so many businesses and
individuals in a bottomless swamp of litigation. We must start
suing each other less and helping each other more.
And that brings me to a final point. The fact is, none of
our pressing social problems will be solved without the voluntary
involvement of individuals and communities. From the first day
of this administration, I have called on every American to become
a Point of Light -- to bring hope to the hopeless, help to the
helpless, love and care to those in need.
Right here in your organizations, you'll find perfect
examples of what I'm talking about. People like
[placeholder
for YPO examples of community service.]
There is in America a vast reservoir of problem-solving
energy waiting to be tapped. Each of you, I know, is a leader in
your community. I would like today to challenge you to join
people like
[...] in a movement that is transforming our country.
I ask you to make your company a Point of Light, by personally
devoting much of your own time to community service and
encouraging your employees to do the same. You can encourage
other community leaders to join in your efforts, to make yours a
Community of Light.
4
The results will be profound -- for yourselves, your
employees, for the legacy we leave our children. We all want a
world at peace; strong, wholesome families; and rewarding jobs
for all who seek them. We have it in our power to create such a
legacy -- a legacy worthy of this great country. I thank you for
helping make that legacy a reality.
God bless you, and God bless the United States of America.
# # # #
(Ferguson/Aarhus)
April 16, 1992
Draft One
YPO
PRESIDENT REMARKS: YOUNG PRESIDENTS ORGANIZATION
ROOM 450
TUESDAY, APRIL 21, 1992
2:00 PM
[Acknowledgments]
I am pleased to be with you today. This afternoon I'd like
briefly to address a few issues of concern to all Americans, but
particularly to those of you in the business world. Your
creativity and know-how are the fuel that creates our country's
wealth and provides rewarding and fulfilling jobs for our
communities.
The role of government in free enterprise is to allow your
creativity to flourish. And that translates into growth. I have
tried, as you know, to promote sensible policies conducive to
economic growth. Earlier this year, I proposed to the Congress a
seven-point plan to jumpstart our economy.
Unfortunately, the Democrats in Congress had other ideas.
Instead of offering a serious, growth-oriented package of their
own, they sent me a grabbag of tax-and-spend proposals.
I drew the line against those new taxes, and I've made it
clear that I will not allow them to abandon the budget discipline
that is our best hope of controlling government spending.
But I want to assure you today: our agenda for economic
growth is very much alive.
One of our serious economic problems right now is the cost
of capital. It's too high. That's why I will continue to fight
for a cut in the tax rate on capital gains. A high cap gains
2
rate merely discourages investment, and thus business expansion
and job creation.
None of our major industrial competitors taxes capital gains
at rates comparable to ours. Germany doesn't tax long-term cap
gains at all; Japan taxes them at a rate of one percent.
Yet the very people who complain about America's ability to
compete vehemently oppose giving business this essential
competitive tool. A lower cap-gains rate will benefit virtually
everyone in America -- not only those who run a business but
anyone who owns a house or a share of stock, or anyone who seeks
a better job. It's time to stop punishing the pursuit of
excellence. It's time to cut the tax on capital gains.
We are also working to lighten the regulatory burden that
Washington imposes on American business. You may recall that
last January I announced a 90-day moratorium on federal
regulations. Wherever possible, we have blocked those
regulations that discourage growth; and we are accelerating those
that encourage growth. I will soon be reporting on the results
of our moratorium, and I think that you -- and anyone who cares
about our economic recovery -- will be pleased with the results.
But I can confidently tell you now: The day of over-regulation is
just that -- over.
We are pursuing comprehensive reforms in other areas that
directly relate to America's long-term competitiveness. We've
proposed a market-based health-care reform, to control
skyrocketing costs and bring coverage to the uninsured. Through
3
our America 2000 initiative, we are continuing our efforts to
revolutionize -- literally reinvent -- American education, to
create the most highly skilled workforce in the world. And we've
introduced important steps to reform our legal system, to put an
end to the frivolous lawsuits that mire so many businesses and
individuals in a bottomless swamp of litigation. We must start
suing each other less and helping each other more.
And that brings me to a final point. The fact is, none of
our pressing social problems will be solved without the voluntary
involvement of individuals and communities. From the first day
of this administration, I have called on every American to become
a Point of Light -- to bring hope to the hopeless, help to the
helpless, love and care to those in need.
Right here in your organizations, you'll find perfect
examples of what I'm talking about. People like
[placeholder
for YPO examples of community service.]
There is in America a vast reservoir of problem-solving
energy waiting to be tapped. Each of you, I know, is a leader in
your community. I would like today to challenge you to join
people like
[...]
in a movement that is transforming our country.
I ask you to make your company a Point of Light, by personally
devoting much of your own time to community service and
encouraging your employees to do the same. You can encourage
other community leaders to join in your efforts, to make yours a
Community of Light.
4
The results will be profound -- for yourselves, your
employees, for the legacy we leave our children. We all want a
world at peace; strong, wholesome families; and rewarding jobs
for all who seek them. We have it in our power to create such a
legacy -- a legacy worthy of this great country. I thank you for
helping make that legacy a reality.
God bless you, and God bless the United States of America.
# # # #
THE WHITE HOUSE
Office of the Press Secretary
For Immediate Release
April 21, 1992
REMARKS BY THE PRESIDENT
TO THE YOUNG PRESIDENTS ORGANIZATION
Room 450
Old Executive Office Building
2:04 P.M. EDT
THE PRESIDENT: Thank you all. Please be seated. I am
delighted to be here and it's delightful to have this distinguished
group of executives here. I want to single out Doug Glant, the
International President of YPO, and thank him for "honchoing" this
outfit and getting everybody together. Some of you look a little old
to be YPOs, but nevertheless -- (laughter) -- far be it from me to be
throwing darts in this way. (Laughter.)
But I'd like to briefly talk about some of the issues of
concern -- certainly of concern to this group, but I think of concern
to all Americans, but with particular emphasis for the business
community. Your creativity and the know-how that I think of when I
think of YPO really are the fuel that creates our country's wealth
and provides rewarding and fulfilling jobs for our communities. And
the role of government in free enterprise is to allow this creativity
to flourish. And that means growth.
I know we've had a very difficult time here, a far
longer slowdown -- indeed recession in some corners -- than we would
have liked. But for the past three years, we have been trying to
promote sensible policies that will help you expand businesses and
help create jobs. And we're going to continue to fight for a growth
agenda. I had to veto some tax legislation recently, but we were
pressing at the same time for seven bullet-point pieces of
legislation that would have stimulated the economy. I am still
hopeful that we can get some of them through this Congress, and I'll
mention a couple of them in a minute.
We face a decision here in the White House now on
another subject, and that's the participation in the U.N. Conference
on the Environment and Development in Rio. The attendance of the
U.S. President at the Rio Conference would add a major political
impetus to that undertaking; there's no question about that at all.
The world looks to us for leadership in this field. But it could
also commit the United States to a course of action that could
dramatically impede long-term economic growth in this country. And I
am committed to international cooperation to preserve the world's
environment. I want to be very clear on that. And that's why I
would like to go to this conference. But I am not going to go to the
Rio Conference and make a bad deal or be a party to a bad deal. I am
not going to sign an agreement that does not protect the environment
and the economy of this country.
And this is a very important decision. It's an
important decision for our environment and it's a very important
decision for our economy. And to play politics with the Rio
Conference severely undercuts the U.S. position as we try now to
assure a world view that will protect the environment and the
economy. Negotiations are going on right now to try to accomplish
both before I make a decision as to whether or not I will go to Rio.
MORE
- 2 -
We are going to consider intensely this matter in the days ahead.
And I'm going to let you know soon -- let the country know soon of
our final decision on my attendance in Rio.
Here at home last week, we had some more heartening news
about the United States economy. All around the world, consumers and
companies buy American goods and services in ever-greater amounts,
despite the sluggish performance of some of their own economies.
U.S. exports -- I look around this room and I see many who are
participating in this -- U.S. exports are experiencing a surge,
rising seven percent in February to a one-month record high of almost
$38 billion. And once again, I think in a good sense, American
exports, manufacturing exports, are leading the way.
This good news underscores a fundamental truth about our
own competitiveness: If we're to succeed economically at home, we
must succeed economically abroad. And the evidence is indisputable:
Open markets and free trade mean new jobs for American workers and
certainly growth for American companies. Over the past four decades,
trade-related jobs in our country have grown three times faster than
overall American job creation.
We must build on this astounding success. And already
over the past four years, our exports to Mexico have more than
doubled, creating more than 300,000 export-related jobs here at home.
And I remember attending a YPO meeting in Mexico about 12 years ago,
maybe 14 I think it was, when we were really way behind the power
curve in terms of doing business with that country. And they were
way behind the power curve in terms of a political situation that
would permit the kind of vigorous business that I've just talked
about here.
But what we're trying to do now is take that improvement
and lock in the gains with what is known as the NAFTA, the North
American Free Trade Agreement. With Canada and Mexico, the North
American Free Trade Agreement will establish one of the world's
largest trading areas, a $6-trillion market from the Yukon to
Yucatan. And that's going to mean hundreds of thousands of new jobs
for U.S. workers. Those that are fighting me or fighting us on this
concept are saying it will cost jobs. We are absolutely convinced
that a successful conclusion to that trade agreement will create
jobs, and I mean good jobs.
Tomorrow, on another field, I'm going to be meeting with
Jacques Delors, the President of the EC Commission. And with him
will be President Cavaco Silva, an old friend, President of the
European Council. He is the Prime Minister of Portugal as you know.
And we're going to be discussing the Uruguay Round of the GATT, the
world trade negotiations that are so essential to expanding trade for
everybody.
Over the next decade, a successful conclusion of that
Uruguay Round could pump $5 trillion into the global economy. And
the U.S. share of this growth would top $1 trillion. And no one
should doubt our resolve to preserve and expand the worldwide regime
of open trade. GATT must be preserved for this reason: American
workers and American companies deserve the jobs and opportunities
that those open markets offer.
I think these negotiations are going to be tough. They
are going to be difficult. But we're approaching them, as we have
earlier negotiations, with a positive spirit. We will do our part,
but the United States must not be asked to bear the entire burden of
compromise when it comes to hammering out a successful conclusion to
this GATT Round.
There's still much we can do to make America more
competitive. And one of our serious economic problems right now --
MORE
- 3 -
and I won't tell you too much about this, lest you tell me about it
-- that is the cost of capital. And it's too high. We know that.
And that's why we're going to continue to fight for a cut in the
capital gains rate -- capital gains tax rate. A high cap-gains rate
discourages investment and, thus, business expansion and, thus, job
creation. And it is very clear to most business people that this
would be a helpful thing.
Ironically, two years ago, in both Houses we had a
majority for reducing the capital gains tax. And it was beaten down
purely by the political leadership in the United States Senate,
keeping us from giving this incentive to American businesses, large
and small. I am continuing to fight for this. Some call it a tax
break for the rich, and I never believed that in the first place and
I don't believe it now. And we're going to keep fighting to get that
stimulative cut in capital gains.
None of our industrial competitors -- major industrial
competitors -- tax capital gains at rates comparable to ours.
Germany, as some of you know, Germany doesn't tax them
at all. And in Japan, an entrepreneur who sells the company that
he's built from scratch pays a tax of one percent. And we are
supposed to compete with those vigorous economies with a much higher
capital gains rate.
And yet, the very people who complain about America's
ability to compete block our effort -- every effort to lower the
capital gains tax. A lower rate will benefit virtually everyone in
America, not only those who run a business, but anyone who owns a
house, or share of stock, seeks a better job. It will help a lot in
the agricultural area of this great country of ours, too. So it's
time to stop punishing the pursuit of excellence. And it's time, I
think, to cut the tax on capital gains.
We're also working to lighten up the regulatory burden
that Washington imposes on every American business. Last January we
announced a 90-day moratorium on federal regulations. Wherever
possible, we blocked those regulations that discourage growth and
we're accelerating those that encourage growth.
So far, the preliminary estimates show that we've saved
American business $10 billion to $20 billion in regulatory costs.
When new legislation is passed, clearly new regulations are required.
I'm thinking of the civil rights legislation that I'm very proud of:
the Americans With Disabilities Act. And, yes, it imposed a burden
on some, but it was overdue. It's sound legislation. It encourages
people to get into the mainstream. And yet, there's been some cost
with that one.
We renegotiated the Clean Air Act, and that was long
overdue. And I think it's good. We tried to use market forces,
incidentally, in letting people meet the clean air standards, but
nevertheless, that imposed a regulatory burden. So now we're trying
to move forward and fulfill our responsibilities for safety and all
of that, but eliminate this movement towards overregulation. And as
I say, these preliminary estimates have been pretty encouraging in
terms of the savings in regulatory costs.
I'm going to soon be making an announcement about our
battle against these excessive regulations, but for now I simply want
to say the days of overregulation are just that -- they are over.
And we are going to stay in there to be sure that independent
agencies, whatever they are -- people -- whoever come in with these
excessive regulations are going to have them blocked, if at all
possible.
MORE
Y
- 4 -
We're pursuing comprehensive reforms in other areas that
directly relate to America's long-term competitiveness. We've
proposed, for example, market-based health care reform to control the
skyrocketing costs and to bring coverage to the uninsured. I do not
want to see us lose the quality of health care that we have in this
country by going to the pay-or-play plan that's going to break a lot
of small businesses; or even worse, to the so-called nationalized
plans that have many of our neighbors sending their people over here
for care. We are not going to go to that centralized or socialized
approach to medicine. And the proposals that we have made that give
people access to insurance and show much greater flexibility in the
insurance pool I believe is the answer to this health care problem.
In another way, another field, through our America 2000
initiative, we are intensifying our efforts to literally
revolutionize reinvent American education. It isn't good
enough anymore to simply throw more money at the mandated programs
that have failed the young people of this country. And we're not
going to do that. And we've gone together, gotten the governors
together, set six national education goals -- very sensible goals --
no partisanship involved in that coming together of the governors,
and now we're moving forward trying to get this program underway.
Some legislation is required. Fortunately, a lot of legislation is
not required, and we can go right to the communities to reinvent the
American school. And it is a good program, and I urge you to take a
hard look at it because I know that you know that we are going to
have to do a better job of education, particularly in math and
science, if we're going to be competitive in the year 2000.
So American education I think we've got a good
program and I strongly urge you to give it your support.
Another area that I know is of concern to people here,
it is to me, and that is the area of legal reform. We have
introduced important steps to reform our legal system, to put an end
to the frivolous lawsuits that mire so many businesses and
individuals and community activities in a bottomless swamp of
litigation. We've got to sue each other less, start helping each
other more.
And I will continue to fight to get this Congress,
hostile Congress in this area, I might say, to at least give an up or
down vote on reform of the liability system. We haven't even been
able to get that; we haven't even been able to get it out of
committee; blocked by powerful lobbies up there. So here's an area
where I know your interests are at stake and an area where I would
earnestly solicit your support. Because we must start capping some
of these outrageous settlements that run the cost of business right
off the chart, run doctors out of business, and say to Little League
coaches, hey, you better not take a chance by coaching the Little
League or this guy over on third base is going to sue you.
And so we're going to fight this one. But again, it's
an area where we need your help.
And the last point is this: The fact is that none of
these pressing social problems are going to be solved without the
voluntary involvement of individuals and communities. And when I
think of YPO and the success that this epitomizes, this organization
epitomizes, I think of a thousand points of light and I think of
people who, in spite of spending an awful lot of time building and
creating jobs for people, they find time to do something in the
communities. From the first day of this administration, we have
called on every American to be a point of light -- to bring hope to
the helpless, and to help the homeless, and to love and care for
those who are in need.
MORE
- 5 -
And it is working. And it isn't a government program;
it is simply encouraging the sense of volunteerism that is in
everybody. Right here in your organizations, you're going to --
plenty of examples of what I'm talking about. Gay Mayer, who works
with a drug rehabilitation program in his area, has helped more than
100 young adults recover from the ravages of drug abuse to lead
productive lives. What one individual has been able to do just by
giving of himself. Joe Lobozzo, who spends his Wednesday nights
counseling children of alcoholics.
I would like today to challenge all of you to join these
men in a movement that is literally transforming our country. It is
much more effective than having a mandated specialized program coming
out of some subcommittee in the United States House of
Representatives. And it is working. It is the best in ourselves.
And I urge you to really, really pitch in.
First, I ask you to make your company a point of light,
by personally devoting as much time as you possibly can to community
service, encouraging the employees to do the same. This whole
concept of mentoring, where businesses reach out and help in this
Education 2000 program, is really working around the country.
Secondly, you can encourage other leaders to make
voluntary service part of their own missions as well. And finally,
you can work among your vast memberships to help America itself
become a nation with communities of light -- a concept where an
entire community comes together figuring how to solve its own
enormous social problems.
I spoke earlier with some of your leaders -- Doug and
others -- and I know that there is support among your members to
assume this leadership role. And I know Doug has asked David Weaver,
an old friend, to work with each of you to decide how you can all
best respond to this challenge.
I am convinced the results will be profound, and urging
this -- we're not trying to escape the responsibility of the federal
government. It's something entirely different. It's the concept
that Thoreau noticed years ago about the propensity of one American
to help another. And we're simply trying to revitalize this,
especially in these days of scarce resources and failed centralized
mandates.
So we've got a lot at stake here, including the legacy
that we leave our children. We all want a world at peace; strong,
wholesome families; rewarding jobs for all who seek them.
You know, in these days, you hear and I hear mostly
about the problems. We've got a lot to be grateful for in this
country. Our kids -- grandkids in some cases -- go to bed at night
with far less fear of nuclear war. The war has changed dramatically
in the last three years -- unprecedented changes that nobody would
have believed possible.
In the Middle East, ancient enemies are at least talking
about peace. South of our border you see the emergence of
democracies that none of us would have predicted just three or four
years ago. The solidifying of the democratic way. And you see
countries coming to grips with their economic problems. Argentina
comes to mind; Mexico, a sterling example of this dramatic change
that is taking place around the world.
I spent this morning talking to a group of business
people on working with them on what we can do to help democracy along
in the CIS, the Commonwealth of Independent States over there, led by
Russia. And then the Ukraine, with Kravchuk coming here next month
and Yeltsin the next. And so there's an awful lot of change in this
world that is good and strong and positive.
- 6 -
And now what we've got to do is take these ideas, and
maybe some that you have that I haven't mentioned, bring them to bear
on the economic problems so we can regain the growth that is
absolutely essential if the United States is going to continue to be
the leader in these very important areas.
But you've caught me on an upbeat day, a day that I am
confident about the United States' leadership. It is only -- I might
tell you this, and some of you can confirm this from your trips
abroad -- it is only our country that the others look to now as the
undisputed leader of the entire world. So we've got to fulfill those
responsibilities while still trying to do what we can to assist those
that are hurting right here at home.
And I am confident, with your help, with your continued
imaginative leadership, that we can do just exactly that. So thank
you very, very much for coming to the White House. I didn't intend
to give you this much of a lecture, but I'm just -- I don't normally
have such a high-talented, captive audience. Thank you all very,
very much. (Applause.)
END
2:25 P.M. EDT
MORE