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Public Safety Equipment, Inc. - St. Louis 8/27/92 [OA 5811]
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Public Safety Equipment, Inc. - St. Louis 8/27/92 [OA 5811]
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This is not a textual record. This is used as an
administrative marker by the George Bush Presidential
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Record Group/Collection:
George H.W. Bush Presidential Records
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Speechwriting, White House Office of
Series:
Speech File Draft Files
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OA/ID Number:
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13637-004
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Public Safety Equipment, Inc. - St. Louis 8/27/92 [OA 5811]
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26
18
4
3
PUBLIC SAFETY EQUIPMENT, INC.
ST. LOUIS, MISSOURI
AUGUST 27, 1992, 8:45 A.M.
THANK YOU AND GOOD MORNING. THANK YOU FOR THAT KIND
INTRODUCTION STEVEN (ROSE). AND LET ME THANK SOME
OTHER MEMBERS OF THE HOST COMMITTEE: MICHEAL LATTA,
EDWARD RYAN, AND ANDREW SMITH. I'M VERY PLEASED THAT
THE GOVERNOR OF MISSOURI COULD JOIN US THIS MORNING --
THANK YOU, JOHN (ASHCROFT).
((THIS IS GREAT. LOOK AT THE EQUIPMENT YOU HAVE
HERE -- LIGHT BARS, BEACONS -- YOU'VE GIVEN NEW MEANING
TO A THOUSAND POINTS OF LIGHT.))
OVER THE PAST THREE AND A HALF YEARS WE HAVE SEEN A
WORLD TRANSFORMED. THE COLD WAR IS OVER. AND NOW THE
DEFINING CHALLENGE OF THE '90'S IS TO WIN THE
COMPETITION OF THE NEW GLOBAL ECONOMY -- TO WIN THE
PEACE.
- 2 -
OUR GOAL IS SIMPLE AND PROFOUND: WE MUST BE A
MILITARY SUPERPOWER, AN ECONOMIC SUPERPOWER AND AN
EXPORT SUPERPOWER.
IN THIS ELECTION, YOU'LL HEAR TWO VERSIONS OF HOW
TO DO THIS. MY OPPONENTS' ANSWER IS TO LOOK INWARD,
AND PROTECT WHAT WE ALREADY HAVE FROM THE CHALLENGES OF
THIS NEW WORLD. MY APPROACH IS TO LOOK FORWARD -- TO
OPEN NEW MARKETS, PREPARE OUR PEOPLE TO COMPETE, TO
RESTORE OUR SOCIAL FABRIC -- TO SAVE AND INVEST, SO
THAT WE CAN WIN.
I'VE COME TO ST. LOUIS TODAY NOT LEAD A RALLY BUT
TO DELIVER A SERIOUS MESSAGE: I WANT TO POINT OUT THE
SHARP DIFFERENCE BETWEEN GOVERNOR CLINTON AND ME ON THE
CRUCIAL ISSUES OF INVESTMENT AND OPEN TRADE. MY
POLICIES ENCOURAGE BOTH -- BECAUSE MY EXPERIENCE IN
BUSINESS AND FOREIGN AFFAIRS HAS SHOWN ME THAT TRADE
AND INVESTMENT CREATE JOBS.
- 3 -
IN CONTRAST, MY OPPONENT AND THE DEMOCRATIC
CONGRESS WANT TO TAX BOTH TRADE AND INVESTMENT. BUT
COMMON SENSE TELLS US THAT IF YOU TAX SOMETHING, YOU
GET LESS OF IT. TAXES STIFLE GROWTH -- CHASE AWAY
BUSINESS AND DESTROY JOBS.
I KNOW MY OPPONENT HAS LOTS OF SLOGANS AND POLICY
BUZZWORDS THAT SOUND APPEALING WHEN YOU FIRST HEAR THEM
-- BUT AMERICA CAN'T AFFORD THEM.
THERE'S A
DIFFERENCE BETWEEN SOUND BITES AND SOUND POLICY. TALK
IS CHEAP - -- UNTIL YOU GET THE BILL.
P.S.E. IS AN EXAMPLE OF WHERE I THINK AMERICA
SHOULD GO -- AND HOW WE SHOULD GET THERE. NOT SO LONG
AGO COMPANIES LIKE P.S.E. COULD BE SATISFIED WITH A
NATIONAL MARKET - -- SELL YOUR GOODS IN THE FIFTY STATES
AND LEAVE IT AT THAT.
- 4 -
THAT'S NO LONGER GOOD ENOUGH. SO A FEW YEARS AGO,
YOU DECIDED TO TAKE ON THE WORLD. I'M TOLD THAT NOW 35
PERCENT OF WHAT YOU MAKE IS SOLD OUTSIDE OUR BORDERS,
IN 66 DIFFERENT COUNTRIES. TODAY YOUR LIGHT BARS AND
SIRENS HELP SAVE LIVES NOT ONLY ON THE STREETS OF
DETROIT AND PEORIA, BUT IN ISRAEL, HONG KONG AND SPAIN.
( (AS LONG AS YOU'RE SHIPPING SO MUCH STUFF ABROAD -
- YOU MIGHT AS WELL CHANGE YOUR NAME TO U - - P - - S -
E.))
YOUR STORY IS A PARABLE FOR OUR NATION'S ECONOMIC
FUTURE. YOU'VE TAKEN THE CHALLENGES OF FOREIGN
COMPETITION AND RESHAPED THEM AS OPPORTUNITIES -- MADE
YOUR NAME A STANDARD OF EXCELLENCE - -- AND YOU SHOULD BE
PROUD OF IT.
- 5 -
LET ME TELL YOU HOW I FIRST LEARNED ABOUT COMPETING
IN THE WORLD.
I LEARNED MY ECONOMICS ON THE OILFIELDS OF WEST
TEXAS. I PAINTED RIGS FOR A WHILE, THEN DROVE
THOUSANDS OF MILES THROUGH FIELDS IN TEXAS, NEW MEXICO,
AND CALIFORNIA. AND ALL AROUND ME IN THOSE DAYS I SAW
TOWNS AND BUSINESSES RISE UP FROM NOTHING, FOR A SIMPLE
REASON: THE WORLD WANTED WHAT TEXAS HAD TO OFFER --
COTTON AND CATTLE AND CRUDE.
LATER ON, WHEN I STARTED MY OWN BUSINESS, I SHOPPED
FOR INVESTORS ON THE WEST COAST, ON THE EAST COAST, BUT
I COULDN'T STOP THERE. I TRAVELED THE WORLD -- TO
EUROPE AND THE FAR EAST. EVERY DOLLAR WE COULD BRING
INTO THIS COUNTRY WAS A DOLLAR THAT WENT TO EXPAND OUR
COMPANY, CREATE JOBS IN OUR COMMUNITY.
- 6 -
I BUILT ON THAT BUSINESS EXPERIENCE WHEN I GOT
INVOLVED IN FOREIGN RELATIONS. I SAW AGAIN HOW
IMPORTANT AMERICA IS TO THE WORLD, AND HOW IMPORTANT
THE WORLD IS TO AMERICA -- NOT JUST FOR NATIONAL
SECURITY IN THE TRADITIONAL SENSE, BUT FOR OUR ECONOMIC
SECURITY, FOR CREATING JOBS, RIGHT HERE AT HOME.
WE'VE HELD STEADY TO THIS VISION FOR THREE YEARS
NOW, AND WE'VE MADE SOLID PROGRESS. AS WE KNOCK DOWN
TRADE BARRIERS, AMERICAN COMPANIES ARE RUSHING TO MEET
THE DEMAND. ALL AROUND THE WORLD -- MORE AND MORE
PEOPLE ARE BUYING AMERICAN.
SINCE I TOOK OFFICE, EXPORTS HAVE INCREASED BY ONE-
THIRD. AMERICA IS THE GREATEST EXPORTER THE WORLD HAS
EVER SEEN -- $422 BILLION DOLLARS OF EXPORTS LAST YEAR
ALONE.
- 7 -
LET ME BRING IT CLOSE TO HOME. IN MISSOURI,
EXPORTS ARE UP 37 PERCENT OVER THE LAST THREE YEARS --
$3.8 BILLION WORTH OF GOODS SHIPPED TO 151 COUNTRIES
AROUND THE WORLD.
IT LOOKS LIKE THE "SHOW ME" STATE IS SHOWING THE
WORLD.
THE NUMBERS ARE IMPRESSIVE, BUT WHEN YOU DIG BEHIND
THE MATH, YOU FIND THE REAL BENEFIT OF THE NEW WORLD
ECONOMY -- IN A WORD: IT'S JOBS. HERE IN MISSOURI,
150,000 JOBS ARE SUPPORTED BY FOREIGN TRADE. ACROSS
THE COUNTRY, MORE THAN 7 MILLION AMERICANS OWE THEIR
JOBS TO EXPORTS.
- 8 -
EVERYONE RECOGNIZES THAT THE WORLD IS MOVING AT A
FASTER CLIP, BUT I SEE SOMETHING MORE: IT'S MOVING OUR
WAY. RIGHT NOW WE'RE BUILDING ON THE EXPORT SUCCESS OF
THE LAST THREE YEARS. TWO WEEKS AGO WE ENTERED A NEW
ERA OF OPEN TRADE. ALONG WITH MEXICO AND CANADA, WE
CONCLUDED TALKS ON THE NORTH AMERICAN FREE TRADE
AGREEMENT -- NAFTA -- KNOCKING DOWN TARIFFS AND
CREATING ONE OF THE LARGEST FREE-TRADE AREAS IN THE
WORLD -- AN INTEGRATED ECONOMY WORTH MORE THAN $6
TRILLION DOLLARS.
HERE IN MISSOURI, YOU ALREADY EXPORT $2 BILLION
WORTH OF GOODS TO MEXICO AND CANADA. THAT'S A LOT OF
PAYCHECKS, BUT OUR NEW AGREEMENT WILL CREATE EVEN MORE
JOBS, AND MAKE US EVEN STRONGER IN THE RACE WITH OUR
EUROPEAN AND ASIAN COMPETITORS.
NAFTA IS A SOLID AGREEMENT. BUT RIGHT NOW, BEFORE
THE INK IS EVEN DRY, THE DEMOCRATIC LEADERSHIP IN
CONGRESS IS CALLING FOR US TO SLAP A TARIFF ON ANY NEW
TRADE THAT COMES FROM NAFTA.
- 9 -
THINK ABOUT THAT FOR A MINUTE. AFTER LONG AND
TOUGH NEGOTIATIONS WITH OUR TWO CLOSEST TRADING
PARTNERS, WE'VE AGREED TO END TARIFFS. THE
PROTECTIONIST DEMOCRATS SAY: "OKAY, FINE. BUT FIRST
YOU HAVE TO PUT ON A NEW TARIFF."
IN OTHER WORDS, THEY THINK THE WAY TO ELIMINATE
TRADE BARRIERS IS BUILD A NEW TRADE BARRIER.
THIS NEW TARIFF -- THIS "TRANSACTION TAX," AS THEY
CALL IT -- WILL MAKE IT MORE EXPENSIVE FOR OUR
BUSINESSES TO COMPETE IN THE WORLD ECONOMY -- AND IT
WILL DISCOURAGE THE CREATION OF NEW JOBS FOR YOU AND
YOUR NEIGHBORS. IT TURNS THE AGREEMENT ON ITS HEAD.
THEY MAY THINK THAT'S GOOD POLITICS, BUT IT'S LOUSY
POLICY.
WHAT ABOUT GOVERNOR CLINTON? WHERE DOES HE STAND?
WELL, JUST LAST WEEK, HE WAS ASKED ABOUT OUR NEW TRADE
AGREEMENT. HE HEMMED AND HAWED, AND AT LAST HE SAID:
"WHEN I HAVE A DEFINITIVE OPINION, I'LL SAY SO."
- 10 -
((I HOPE NOBODY'S PLANNING ON HOLDING THEIR
BREATH. ))
GOVERNOR CLINTON CAN FUDGE ALL HE WANTS, BUT THE
DIFFERENCE COULDN'T BE CLEARER -- AND THE DIFFERENCE IS
BASED ON TWO VERY DIFFERENT VIEWS OF AMERICA'S FUTURE.
MY OPPONENTS SEE US KNOCK DOWN TRADE BARRIERS AND THEY
SAY: HOLD EVERYTHING. THEY SEE US OPEN NEW MARKETS FOR
AMERICAN GOODS AND THEY SAY: WAIT A MINUTE. MAYBE WE
CAN'T COMPETE. MAYBE THE AMERICAN WORKER CAN'T CUT IT.
SO LET'S PULL DOWN THE BLINDS, LOCK THE DOORS AND HOPE
THE WORLD GOES AWAY.
WELL, LET ME TELL THEM SOMETHING YOU ALREADY KNOW.
THE AMERICAN WORKER DOESN'T HAVE TO HIDE FROM ANYBODY.
AMERICANS CAN OUTWORK, OUT-THINK, OUT-COMPETE ANYBODY,
ANYWHERE, ANYTIME.
- 11 -
THAT'S SOMETHING EVERYONE IN THE WORLD SEEMS TO
UNDERSTAND -- EVERYONE BUT THE PROTECTIONIST DEMOCRATS.
OVER THE LAST DECADE, WE'VE SEEN A BOOM IN FOREIGN
INVESTMENT IN THE UNITED STATES -- BUSINESSES FROM ALL
OVER THE WORLD SETTING UP SHOP FROM PORTLAND, OREGON TO
PORTLAND, MAINE. THESE INVESTORS FOLLOW A SIMPLE
LOGIC: IF YOU WANT THE BEST SCIENCE AND UNIVERSITIES IN
THE WORLD, IF YOU WANT THE BEST WORKERS IN THE WORLD,
YOU HAVE TO COME TO THE U.S.A. ///
THE RESULT HAS BEEN JOBS: ONE OUT OF EVERY TEN
MANUFACTURING WORKERS IN THE UNITED STATES WORKS FOR A
COMPANY SUPPORTED BY FOREIGN INVESTMENT. AND THAT'S
THE BOTTOM LINE: JOBS FOR AMERICANS, A GROWING ECONOMIC
PIE FOR EVERYONE.
NOW, HERE'S ONE ISSUE GOVERNOR CLINTON DOESN'T
FUDGE. HE'S PROPOSED TO INCREASE TAXES ON FOREIGN
INVESTMENT IN THE UNITED STATES, EVEN THOUGH THOSE
COMPANIES EMPLOY A TOTAL OF 4 AND ONE-HALF MILLION
AMERICANS.
- 12 -
GOVERNOR CLINTON SAYS HIS TAX INCREASE WILL "CRACK
DOWN" ON FOREIGN COMPANIES, BUT HIS CRACK-DOWN IS MORE
LIKE AN EVICTION NOTICE. AND WHEN THOSE COMPANIES PACK
THEIR BAGS, THEY'LL TAKE THOSE JOBS WITH THEM. //
I'M NOT GOING TO LET THAT HAPPEN. ///
TRAVEL AROUND THIS STATE. GO TO NEW MADRID (MAD-
RID), TALK TO THE 1200 EMPLOYEES AT NORANDA ALUMINUM -
- OR TO JOPLIN, TALK TO THE 425 EMPLOYEES OF ATLAS
POWDER. GO TO ANY OF THE 244 FOREIGN-OWNED COMPANIES
THAT EMPLOY 60,000 WORKERS RIGHT HERE IN MISSOURI. I
DON'T THINK YOU'RE GOING TO FIND ANY OF THOSE
MISSOURIANS WHINING ABOUT FOREIGN INVESTMENT.
IF GOVERNOR CLINTON'S TAX HIKE HAD BEEN IN EFFECT
THESE PAST FEW YEARS, THOSE COMPANIES WOULDN'T BE HERE
-- AND THOSE JOBS WOULDN'T HAVE BEEN CREATED FOR
MISSOURIANS.
- 13 -
AND IT'S NOT JUST MISSOURI. WHETHER IT'S THE
NISSAN PLANT IN SMYRNA, TENNESSEE -- OR THE HONDA PLANT
IN MARYSVILLE, OHIO -- GOVERNOR CLINTON'S TAX INCREASE
WOULD BE FELT IN EVERY REGION OF EVERY STATE IN THIS
COUNTRY.
GOVERNOR CLINTON COULD USE A LESSON IN
INTERNATIONAL RELATIONS. IF HE RAISES THIS TAX, OUR
FOREIGN COMPETITORS ARE GOING TO SAY: "WHAT'S GOOD FOR
THE GOOSE IS GOOD FOR THE GANDER." HIS TAX IS LIKE A
GILDED INVITATION SENT TO FOREIGN GOVERNMENTS WHERE
U.S. COMPANIES DO BUSINESS. AND THE INVITATION READS:
"PLEASE RETALIATE."
HIS TAX WOULD NOT ONLY DESTROY JOBS AND REDUCE
INVESTMENT HERE; IT WOULD DO THE SAME THROUGHOUT THE
GLOBAL ECONOMY -- CAUSING A WORLDWIDE CONTRACTION.
THERE WAS ANOTHER OCCASION WHEN THAT HAPPENED -- RIGHT
BEFORE THE GREAT DEPRESSION.
- 14 -
SO THOSE ARE THE FACTS ABOUT GOVERNOR CLINTON'S
TAX: IT WILL DESTROY JOBS. IT WILL DISCOURAGE
INVESTMENT. AND IT THREATENS TO START AN ECONOMIC WAR
JUST AS MARKETS THE WORLD OVER ARE OPENING UP TO
AMERICAN PRODUCTS.
WE SHOULD ASK WHY, GIVEN ALL THIS, GOVERNOR CLINTON
WOULD EVER PROPOSE SUCH A TAX IN THE FIRST PLACE. I
HAVE A HUNCH. TODAY CHANGE IS ACCELERATING, AND CHANGE
BREEDS UNEASINESS, SKEPTICISM, EVEN FEAR. AND BY
ATTACKING THE BOGEYMEN OF FOREIGN INVESTORS, GOVERNOR
CLINTON HOPES TO EXPLOIT THE DARKER IMPULSES OF THIS
UNCERTAIN AGE -- FEAR OF THE FUTURE, FEAR OF THE
UNKNOWN, FEAR OF FOREIGNERS.
- 15 -
NOW I KNOW GOVERNOR CLINTON'S REPUTATION FOR
OPPORTUNISM -- AS THE KIND OF GUY WHO'LL SAY ANYTHING,
DO ANYTHING, FOR POLITICAL GAIN. BUT HE SHOULD
UNDERSTAND WHAT'S AT STAKE HERE, AND IF HE DOESN'T
KNOW, LET ME TELL HIM: THOSE ARE AMERICAN JOBS HE'S
PLAYING POLITICS WITH. THOSE ARE AMERICAN WORKERS HE'S
PUTTING AT RISK.
THE AMERICAN PEOPLE WON'T BUY IT. THE PROUDEST
PEOPLE ON EARTH HAVE NEVER STOOPED TO FEARMONGERS
BEFORE, AND WE'RE NOT GOING TO START NOW.
IN TALKING ABOUT AMERICA'S FUTURE IN THE GLOBAL
ECONOMY, I MENTIONED MY OWN EXPERIENCE, BECAUSE I WANT
YOU TO UNDERSTAND WHY I BELIEVE WHAT I DO ABOUT
AMERICA'S ABILITY TO COMPETE. I'VE BUILT A BUSINESS;
I'VE DEALT WITH FOREIGN NATIONS; AND I KNOW HOW TO
BRING IT TOGETHER -- I KNOW WHAT IT TAKES TO MAKE
AMERICA SECURE AND STRONG AT HOME AND ABROAD.
- 16 -
SO YOU SEE, YOUR VOTE WILL MAKE A DIFFERENCE THIS
YEAR -- AND NOT ONLY IN THE PRESIDENTIAL ELECTION.
WHEN YOU LOOK AT YOUR CANDIDATES FOR CONGRESS, I'D LIKE
YOU TO ASK THEM SOMETHING. ASK THEM WHERE THEY STAND
ON KEEPING AMERICA AN EXPORT SUPERPOWER -- ON OUR NEW
TRADE AGREEMENT -- AND ON GOVERNOR CLINTON'S NEW TAXES
ON INVESTMENT AND JOBS.
- 17 -
PLEASE LISTEN TO THEIR ANSWERS CAREFULLY. AND THIS
IS IMPORTANT -- PLEASE FOLLOW UP. SOME OF THEM WILL DO
MORE FLIP-FLOPS THAN OZZIE SMITH. I'LL GIVE YOU AN
EXAMPLE. EARLIER THIS SUMMER, WE LOST A CLOSE BATTLE
IN CONGRESS FOR A CONSTITUTIONAL AMENDMENT TO BALANCE
THE FEDERAL BUDGET. ONE OF ST. LOUIS'S REPRESENTATIVES
-- JOAN HORN -- SIGNED UP AS A CO-SPONSOR OF THE
AMENDMENT IN APRIL. THEN, WHEN IT CAME TIME TO VOTE,
SHE DID AN OZZIE SMITH. SHE VOTED AGAINST THE
AMENDMENT SHE HAD CO-SPONSORED. SO THIS FALL, WHEN YOU
ASK REPRESENTATIVE HORN ABOUT THE ISSUES, ASK HER ABOUT
THE BALANCED BUDGET AMENDMENT. LET HER KNOW BEFORE SHE
LISTENS TO THE DEMOCRATIC LEADERSHIP IN CONGRESS, SHE
SHOULD LISTEN TO HER HEART. SHE SHOULD LISTEN TO
MISSOURI.
- 18 -
THOSE ARE THE KIND OF CHOICES WE FACE THIS YEAR --
A CHOICE BETWEEN THE PATRONS OF THE PAST AND THE
ARCHITECTS OF THE FUTURE. I BELIEVE WE CAN SHAPE OUR
FUTURE -- NOT BY TAXING TRADE BUT BY OPENING MARKETS;
NOT BY SCARING OFF INVESTMENT BUT BY USING IT TO CREATE
JOBS FOR OURSELVES AND OUR KIDS.
I HAVE FAITH IN AMERICA'S FUTURE -- BECAUSE I HAVE
FAITH IN THE AMERICAN PEOPLE. IT'S THE SAME FAITH THAT
BROUGHT ME OUT TO TEXAS MORE THAN 40 YEARS AGO -- THE
SAME FAITH THAT BROUGHT ME INTO PUBLIC LIFE -- THE SAME
FAITH THAT HAS LED ME TO FIGHT FOR OPEN MARKETS --
BECAUSE I KNOW THAT NO CHALLENGE IS TOO GREAT FOR THE
HEARTS AND HANDS AND MINDS OF AMERICA.
THANK YOU AND GOD BLESS YOU.
# # #
PUBLIC SAFETY EQUIPMENT, INC.
ST. LOUIS, MISSOURI
AUGUST 27, 1992, 8:45 A.M.
THANK YOU AND GOOD MORNING. THANK YOU FOR THAT KIND
INTRODUCTION STEVEN (ROSE). AND LET ME THANK SOME
OTHER MEMBERS OF THE HOST COMMITTEE: MICHEAL LATTA,
EDWARD RYAN, AND ANDREW SMITH. I'M VERY PLEASED THAT
THE GOVERNOR OF MISSOURI COULD JOIN US THIS MORNING --
THANK YOU, JOHN (ASHCROFT).
((THIS IS GREAT. LOOK AT THE EQUIPMENT YOU HAVE
HERE -- LIGHT BARS, BEACONS -- YOU'VE GIVEN NEW MEANING
TO A THOUSAND POINTS OF LIGHT.))
OVER THE PAST THREE AND A HALF YEARS WE HAVE SEEN A
WORLD TRANSFORMED. THE COLD WAR IS OVER. AND NOW THE
DEFINING CHALLENGE OF THE '90'S IS TO WIN THE
COMPETITION OF THE NEW GLOBAL ECONOMY -- TO WIN THE
PEACE.
- 2 -
OUR GOAL IS SIMPLE AND PROFOUND: WE MUST BE A
MILITARY SUPERPOWER, AN ECONOMIC SUPERPOWER AND AN
EXPORT SUPERPOWER.
IN THIS ELECTION, YOU'LL HEAR TWO VERSIONS OF HOW
TO DO THIS. MY OPPONENTS' ANSWER IS TO LOOK INWARD,
AND PROTECT WHAT WE ALREADY HAVE FROM THE CHALLENGES OF
THIS NEW WORLD. MY APPROACH IS TO LOOK FORWARD -- TO
OPEN NEW MARKETS, PREPARE OUR PEOPLE TO COMPETE, TO
RESTORE OUR SOCIAL FABRIC -- TO SAVE AND INVEST, SO
THAT WE CAN WIN.
I'VE COME TO ST. LOUIS TODAY NOT LEAD A RALLY BUT
TO DELIVER A SERIOUS MESSAGE: I WANT TO POINT OUT THE
SHARP DIFFERENCE BETWEEN GOVERNOR CLINTON AND ME ON THE
CRUCIAL ISSUES OF INVESTMENT AND OPEN TRADE. MY
POLICIES ENCOURAGE BOTH -- BECAUSE MY EXPERIENCE IN
BUSINESS AND FOREIGN AFFAIRS HAS SHOWN ME THAT TRADE
AND INVESTMENT CREATE JOBS.
- 3 -
IN CONTRAST, MY OPPONENT AND THE DEMOCRATIC
CONGRESS WANT TO TAX BOTH TRADE AND INVESTMENT. BUT
COMMON SENSE TELLS US THAT IF YOU TAX SOMETHING, YOU
GET LESS OF IT. TAXES STIFLE GROWTH -- CHASE AWAY
BUSINESS AND DESTROY JOBS.
I KNOW MY OPPONENT HAS LOTS OF SLOGANS AND POLICY
BUZZWORDS THAT SOUND APPEALING WHEN YOU FIRST HEAR THEM
-- BUT AMERICA CAN'T AFFORD THEM.
THERE'S A
DIFFERENCE BETWEEN SOUND BITES AND SOUND POLICY. TALK
IS CHEAP -- UNTIL YOU GET THE BILL.
P.S.E. IS AN EXAMPLE OF WHERE I THINK AMERICA
SHOULD GO -- AND HOW WE SHOULD GET THERE. NOT SO LONG
AGO COMPANIES LIKE P.S.E. COULD BE SATISFIED WITH A
NATIONAL MARKET -- SELL YOUR GOODS IN THE FIFTY STATES
AND LEAVE IT AT THAT.
- 4 -
THAT'S NO LONGER GOOD ENOUGH. SO A FEW YEARS AGO,
YOU DECIDED TO TAKE ON THE WORLD. I'M TOLD THAT NOW 35
PERCENT OF WHAT YOU MAKE IS SOLD OUTSIDE OUR BORDERS,
IN 4860 66 DIFFERENT COUNTRIES. TODAY YOUR LIGHT BARS AND
SIRENS HELP SAVE LIVES NOT ONLY ON THE STREETS OF
DETROIT AND PEORIA, BUT IN ISRAEL, HONG KONG AND SPAIN.
( (AS LONG AS YOU'RE SHIPPING SO MUCH STUFF ABROAD - -
- YOU MIGHT AS WELL CHANGE YOUR NAME TO U - - P - - S -
E.))
YOUR STORY IS A PARABLE FOR OUR NATION'S ECONOMIC
FUTURE. YOU'VE TAKEN THE CHALLENGES OF FOREIGN
COMPETITION AND RESHAPED THEM AS OPPORTUNITIES -- MADE
YOUR NAME A STANDARD OF EXCELLENCE - -- AND YOU SHOULD BE
PROUD OF IT.
- 5 -
LET ME TELL YOU HOW I FIRST LEARNED ABOUT COMPETING
IN THE WORLD.
I LEARNED MY ECONOMICS ON THE OILFIELDS OF WEST
TEXAS. I PAINTED RIGS FOR A WHILE, THEN DROVE
THOUSANDS OF MILES THROUGH FIELDS IN TEXAS, NEW MEXICO,
AND CALIFORNIA. AND ALL AROUND ME IN THOSE DAYS I SAW
TOWNS AND BUSINESSES RISE UP FROM NOTHING, FOR A SIMPLE
REASON: THE WORLD WANTED WHAT TEXAS HAD TO OFFER --
COTTON AND CATTLE AND CRUDE.
LATER ON, WHEN I STARTED MY OWN BUSINESS, I SHOPPED
FOR INVESTORS ON THE WEST COAST, ON THE EAST COAST, BUT
I COULDN'T STOP THERE. I TRAVELED THE WORLD - -- TO
EUROPE AND THE FAR EAST. EVERY DOLLAR WE COULD BRING
INTO THIS COUNTRY WAS A DOLLAR THAT WENT TO EXPAND OUR
COMPANY, CREATE JOBS IN OUR COMMUNITY.
- 6 -
I BUILT ON THAT BUSINESS EXPERIENCE WHEN I GOT
INVOLVED IN FOREIGN RELATIONS. I SAW AGAIN HOW
IMPORTANT AMERICA IS TO THE WORLD, AND HOW IMPORTANT
THE WORLD IS TO AMERICA -- NOT JUST FOR NATIONAL
SECURITY IN THE TRADITIONAL SENSE, BUT FOR OUR ECONOMIC
SECURITY, FOR CREATING JOBS, RIGHT HERE AT HOME.
WE'VE HELD STEADY TO THIS VISION FOR THREE YEARS
NOW, AND WE'VE MADE SOLID PROGRESS. AS WE KNOCK DOWN
TRADE BARRIERS, AMERICAN COMPANIES ARE RUSHING TO MEET
THE DEMAND. ALL AROUND THE WORLD -- MORE AND MORE
PEOPLE ARE BUYING AMERICAN.
SINCE I TOOK OFFICE, EXPORTS HAVE INCREASED BY ONE-
THIRD. AMERICA IS THE GREATEST EXPORTER THE WORLD HAS
EVER SEEN -- $422 BILLION DOLLARS OF EXPORTS LAST YEAR
ALONE.
- 7 -
LET ME BRING IT CLOSE TO HOME. IN MISSOURI,
EXPORTS ARE UP 37 PERCENT OVER THE LAST THREE YEARS --
$3.8 BILLION WORTH OF GOODS SHIPPED TO 151 COUNTRIES
AROUND THE WORLD.
IT LOOKS LIKE THE "SHOW ME" STATE IS SHOWING THE
WORLD.
THE NUMBERS ARE IMPRESSIVE, BUT WHEN YOU DIG BEHIND
THE MATH, YOU FIND THE REAL BENEFIT OF THE NEW WORLD
ECONOMY - -- IN A WORD: IT'S JOBS. HERE IN MISSOURI,
150,000 JOBS ARE SUPPORTED BY FOREIGN TRADE. ACROSS
THE COUNTRY, MORE THAN 7 MILLION AMERICANS OWE THEIR
JOBS TO EXPORTS.
- 8 -
EVERYONE RECOGNIZES THAT THE WORLD IS MOVING AT A
FASTER CLIP, BUT I SEE SOMETHING MORE: IT'S MOVING OUR
WAY. RIGHT NOW WE'RE BUILDING ON THE EXPORT SUCCESS OF
THE LAST THREE YEARS. TWO WEEKS AGO WE ENTERED A NEW
ERA OF OPEN TRADE. ALONG WITH MEXICO AND CANADA, WE
CONCLUDED TALKS ON THE NORTH AMERICAN FREE TRADE
AGREEMENT -- NAFTA -- KNOCKING DOWN TARIFFS AND
CREATING ONE OF THE LARGEST FREE-TRADE AREAS IN THE
WORLD -- AN INTEGRATED ECONOMY WORTH MORE THAN $6
TRILLION DOLLARS.
HERE IN MISSOURI, YOU ALREADY EXPORT $2 BILLION
WORTH OF GOODS TO MEXICO AND CANADA. THAT'S A LOT OF
PAYCHECKS, BUT OUR NEW AGREEMENT WILL CREATE EVEN MORE
JOBS, AND MAKE US EVEN STRONGER IN THE RACE WITH OUR
EUROPEAN AND ASIAN COMPETITORS.
NAFTA IS A SOLID AGREEMENT. BUT RIGHT NOW, BEFORE
THE INK IS EVEN DRY, THE DEMOCRATIC LEADERSHIP IN
CONGRESS IS CALLING FOR US TO SLAP A TARIFF ON ANY NEW
TRADE THAT COMES FROM NAFTA.
- 9 -
THINK ABOUT THAT FOR A MINUTE. AFTER LONG AND
TOUGH NEGOTIATIONS WITH OUR TWO CLOSEST TRADING
PARTNERS, WE'VE AGREED TO END TARIFFS. THE
PROTECTIONIST DEMOCRATS SAY: "OKAY, FINE. BUT FIRST
YOU HAVE TO PUT ON A NEW TARIFF."
IN OTHER WORDS, THEY THINK THE WAY TO ELIMINATE
TRADE BARRIERS IS BUILD A NEW TRADE BARRIER.
THIS NEW TARIFF -- THIS "TRANSACTION TAX," AS THEY
CALL IT -- WILL MAKE IT MORE EXPENSIVE FOR OUR
BUSINESSES TO COMPETE IN THE WORLD ECONOMY - -- AND IT
WILL DISCOURAGE THE CREATION OF NEW JOBS FOR YOU AND
YOUR NEIGHBORS. IT TURNS THE AGREEMENT ON ITS HEAD.
THEY MAY THINK THAT'S GOOD POLITICS, BUT IT'S LOUSY
POLICY.
WHAT ABOUT GOVERNOR CLINTON? WHERE DOES HE STAND?
WELL, JUST LAST WEEK, HE WAS ASKED ABOUT OUR NEW TRADE
AGREEMENT. HE HEMMED AND HAWED, AND AT LAST HE SAID:
"WHEN I HAVE A DEFINITIVE OPINION, I'LL SAY SO."
- 10 -
((I HOPE NOBODY'S PLANNING ON HOLDING THEIR
BREATH. ))
GOVERNOR CLINTON CAN FUDGE ALL HE WANTS, BUT THE
DIFFERENCE COULDN'T BE CLEARER -- AND THE DIFFERENCE IS
BASED ON TWO VERY DIFFERENT VIEWS OF AMERICA'S FUTURE.
MY OPPONENTS SEE US KNOCK DOWN TRADE BARRIERS AND THEY
SAY: HOLD EVERYTHING. THEY SEE US OPEN NEW MARKETS FOR
AMERICAN GOODS AND THEY SAY: WAIT A MINUTE. MAYBE WE
CAN'T COMPETE. MAYBE THE AMERICAN WORKER CAN'T CUT IT.
SO LET'S PULL DOWN THE BLINDS, LOCK THE DOORS AND HOPE
THE WORLD GOES AWAY.
WELL, LET ME TELL THEM SOMETHING YOU ALREADY KNOW.
THE AMERICAN WORKER DOESN'T HAVE TO HIDE FROM ANYBODY.
AMERICANS CAN OUTWORK, OUT-THINK, OUT-COMPETE ANYBODY,
ANYWHERE, ANYTIME.
- 11 -
THAT'S SOMETHING EVERYONE IN THE WORLD SEEMS TO
UNDERSTAND -- EVERYONE BUT THE PROTECTIONIST DEMOCRATS.
OVER THE LAST DECADE, WE'VE SEEN A BOOM IN FOREIGN
INVESTMENT IN THE UNITED STATES -- BUSINESSES FROM ALL
OVER THE WORLD SETTING UP SHOP FROM PORTLAND, OREGON TO
PORTLAND, MAINE. THESE INVESTORS FOLLOW A SIMPLE
LOGIC: IF YOU WANT THE BEST SCIENCE AND UNIVERSITIES IN
THE WORLD, IF YOU WANT THE BEST WORKERS IN THE WORLD,
YOU HAVE TO COME TO THE U.S.A. ///
THE RESULT HAS BEEN JOBS: ONE OUT OF EVERY TEN
MANUFACTURING WORKERS IN THE UNITED STATES WORKS FOR A
COMPANY SUPPORTED BY FOREIGN INVESTMENT. AND THAT'S
THE BOTTOM LINE: JOBS FOR AMERICANS, A GROWING ECONOMIC
PIE FOR EVERYONE.
NOW, HERE'S ONE ISSUE GOVERNOR CLINTON DOESN'T
FUDGE. HE'S PROPOSED TO INCREASE TAXES ON FOREIGN
INVESTMENT IN THE UNITED STATES, EVEN THOUGH THOSE
COMPANIES EMPLOY A TOTAL OF 4 AND ONE-HALF MILLION
AMERICANS.
- 12 -
GOVERNOR CLINTON SAYS HIS TAX INCREASE WILL "CRACK
DOWN" ON FOREIGN COMPANIES, BUT HIS CRACK-DOWN IS MORE
LIKE AN EVICTION NOTICE. AND WHEN THOSE COMPANIES PACK
THEIR BAGS, THEY'LL TAKE THOSE JOBS WITH THEM. //
I'M NOT GOING TO LET THAT HAPPEN. ///
TRAVEL AROUND THIS STATE. GO TO NEW MADRID (MAD-
RID), TALK TO THE 1200 EMPLOYEES AT NORANDA ALUMINUM -
- OR TO JOPLIN, TALK TO THE 425 EMPLOYEES OF ATLAS
POWDER. GO TO ANY OF THE 244 FOREIGN-OWNED COMPANIES
THAT EMPLOY 60,000 WORKERS RIGHT HERE IN MISSOURI. I
DON'T THINK YOU'RE GOING TO FIND ANY OF THOSE
MISSOURIANS WHINING ABOUT FOREIGN INVESTMENT.
IF GOVERNOR CLINTON'S TAX HIKE HAD BEEN IN EFFECT
THESE PAST FEW YEARS, THOSE COMPANIES WOULDN'T BE HERE
-- AND THOSE JOBS WOULDN'T HAVE BEEN CREATED FOR
MISSOURIANS.
- 13 -
AND IT'S NOT JUST MISSOURI. WHETHER IT'S THE
NISSAN PLANT IN SMYRNA, TENNESSEE -- OR THE HONDA PLANT
IN MARYSVILLE, OHIO -- GOVERNOR CLINTON'S TAX INCREASE
WOULD BE FELT IN EVERY REGION OF EVERY STATE IN THIS
COUNTRY.
GOVERNOR CLINTON COULD USE A LESSON IN
INTERNATIONAL RELATIONS. IF HE RAISES THIS TAX, OUR
FOREIGN COMPETITORS ARE GOING TO SAY: "WHAT'S GOOD FOR
THE GOOSE IS GOOD FOR THE GANDER." HIS TAX IS LIKE A
GILDED INVITATION SENT TO FOREIGN GOVERNMENTS WHERE
U.S. COMPANIES DO BUSINESS. AND THE INVITATION READS:
"PLEASE RETALIATE."
HIS TAX WOULD NOT ONLY DESTROY JOBS AND REDUCE
INVESTMENT HERE; IT WOULD DO THE SAME THROUGHOUT THE
GLOBAL ECONOMY -- CAUSING A WORLDWIDE CONTRACTION.
THERE WAS ANOTHER OCCASION WHEN THAT HAPPENED -- RIGHT
BEFORE THE GREAT DEPRESSION.
- 14 -
SO THOSE ARE THE FACTS ABOUT GOVERNOR CLINTON'S
TAX: IT WILL DESTROY JOBS. IT WILL DISCOURAGE
INVESTMENT. AND IT THREATENS TO START AN ECONOMIC WAR
JUST AS MARKETS THE WORLD OVER ARE OPENING UP TO
AMERICAN PRODUCTS.
WE SHOULD ASK WHY, GIVEN ALL THIS, GOVERNOR CLINTON
WOULD EVER PROPOSE SUCH A TAX IN THE FIRST PLACE. I
HAVE A HUNCH. TODAY CHANGE IS ACCELERATING, AND CHANGE
BREEDS UNEASINESS, SKEPTICISM, EVEN FEAR. AND BY
ATTACKING THE BOGEYMEN OF FOREIGN INVESTORS, GOVERNOR
CLINTON HOPES TO EXPLOIT THE DARKER IMPULSES OF THIS
UNCERTAIN AGE -- FEAR OF THE FUTURE, FEAR OF THE
UNKNOWN, FEAR OF FOREIGNERS.
- 15 -
NOW I KNOW GOVERNOR CLINTON'S REPUTATION FOR
OPPORTUNISM -- AS THE KIND OF GUY WHO'LL SAY ANYTHING,
DO ANYTHING, FOR POLITICAL GAIN. BUT HE SHOULD
UNDERSTAND WHAT'S AT STAKE HERE, AND IF HE DOESN'T
KNOW, LET ME TELL HIM: THOSE ARE AMERICAN JOBS HE'S
PLAYING POLITICS WITH. THOSE ARE AMERICAN WORKERS HE'S
PUTTING AT RISK.
THE AMERICAN PEOPLE WON'T BUY IT. THE PROUDEST
PEOPLE ON EARTH HAVE NEVER STOOPED TO FEARMONGERS
BEFORE, AND WE'RE NOT GOING TO START NOW.
IN TALKING ABOUT AMERICA'S FUTURE IN THE GLOBAL
ECONOMY, I MENTIONED MY OWN EXPERIENCE, BECAUSE I WANT
YOU TO UNDERSTAND WHY I BELIEVE WHAT I DO ABOUT
AMERICA'S ABILITY TO COMPETE. I'VE BUILT A BUSINESS;
I'VE DEALT WITH FOREIGN NATIONS; AND I KNOW HOW TO
BRING IT TOGETHER -- I KNOW WHAT IT TAKES TO MAKE
AMERICA SECURE AND STRONG AT HOME AND ABROAD.
- 16 -
SO YOU SEE, YOUR VOTE WILL MAKE A DIFFERENCE THIS
YEAR -- AND NOT ONLY IN THE PRESIDENTIAL ELECTION.
WHEN YOU LOOK AT YOUR CANDIDATES FOR CONGRESS, I'D LIKE
YOU TO ASK THEM SOMETHING. ASK THEM WHERE THEY STAND
ON KEEPING AMERICA AN EXPORT SUPERPOWER -- ON OUR NEW
TRADE AGREEMENT -- AND ON GOVERNOR CLINTON'S NEW TAXES
ON INVESTMENT AND JOBS.
- 17 -
PLEASE LISTEN TO THEIR ANSWERS CAREFULLY. AND THIS
IS IMPORTANT -- PLEASE FOLLOW UP. SOME OF THEM WILL DO
MORE FLIP-FLOPS THAN OZZIE SMITH. I'LL GIVE YOU AN
EXAMPLE. EARLIER THIS SUMMER, WE LOST A CLOSE BATTLE
IN CONGRESS FOR A CONSTITUTIONAL AMENDMENT TO BALANCE
THE FEDERAL BUDGET. ONE OF ST. LOUIS'S REPRESENTATIVES
-- JOAN HORN -- SIGNED UP AS A CO-SPONSOR OF THE
AMENDMENT IN APRIL. THEN, WHEN IT CAME TIME TO VOTE,
SHE DID AN OZZIE SMITH. SHE VOTED AGAINST THE
AMENDMENT SHE HAD CO-SPONSORED. SO THIS FALL, WHEN YOU
ASK REPRESENTATIVE HORN ABOUT THE ISSUES, ASK HER ABOUT
THE BALANCED BUDGET AMENDMENT. LET HER KNOW BEFORE SHE
LISTENS TO THE DEMOCRATIC LEADERSHIP IN CONGRESS, SHE
SHOULD LISTEN TO HER HEART. SHE SHOULD LISTEN TO
MISSOURI.
- 18 - -
THOSE ARE THE KIND OF CHOICES WE FACE THIS YEAR --
A CHOICE BETWEEN THE PATRONS OF THE PAST AND THE
ARCHITECTS OF THE FUTURE. I BELIEVE WE CAN SHAPE OUR
FUTURE - -- NOT BY TAXING TRADE BUT BY OPENING MARKETS;
NOT BY SCARING OFF INVESTMENT BUT BY USING IT TO CREATE
JOBS FOR OURSELVES AND OUR KIDS.
I HAVE FAITH IN AMERICA'S FUTURE -- BECAUSE I HAVE
FAITH IN THE AMERICAN PEOPLE. IT'S THE SAME FAITH THAT
BROUGHT ME OUT TO TEXAS MORE THAN 40 YEARS AGO -- THE
SAME FAITH THAT BROUGHT ME INTO PUBLIC LIFE -- THE SAME
FAITH THAT HAS LED ME TO FIGHT FOR OPEN MARKETS --
BECAUSE I KNOW THAT NO CHALLENGE IS T00 GREAT FOR THE
HEARTS AND HANDS AND MINDS OF AMERICA.
THANK YOU AND GOD BLESS YOU.
# # #
Document No. 346876ss
WHITE HOUSE STAFFING MEMORANDUM
DATE:
8/26/92
ACTION/CONCURRENCE/COMMENT DUE BY:
---
PRESIDENTIAL REMARKS: PUBLIC SAFETY EQUIPMENT EVENT
SUBJECT:
ST. LOUIS, MO.- - 8/27/92 - 9:00 a.m.
ACTION FYI
ACTION FYI
VICE PRESIDENT
MOORE
BAKER
MULLINS
SCOWCROFT
PETERSMEYER
DARMAN
PORTER
BRADY
PROVOST
BROMLEY
ROSS
CALIO
SMITH
DEMAREST
TUTWILER
FITZWATER
ZOELLICK
GRAY
KAUFMAN
HOLIDAY
MCGROARTY
HORNER
BOSKIN
MCBRIDE
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
P1:27
August 26, 1992
MEMORANDUM FOR THE PRESIDENT
THROUGH:
DAN MC GROARTY you
FROM:
ANDY FERGUSON 07
SUBJECT:
PROPOSED REMARKS FOR PUBLIC SAFETY EQUIPMENT EVENT
I. SUMMARY
On Thursday, August 27, at 9:00 a.m., you will address
approximately 2,000 people at Public Safety Equipment, Inc. in
St. Louis, Missouri. The company exports light bars for
emergency vehicles worldwide.
II. DISCUSSION
Your remarks (approximately 18 minutes / teleprompter)
discuss the importance of NAFTA and explains Gov. Clinton's plan
to tax foreign investment in the United States. Your remarks
also criticize Missouri Rep. Dick Gephardt's proposal for a
"transaction tax" within a free trade zone.
(Ferguson/Walters)
August 26, 1992
12:20 p.m.
STLOUIS
PRESIDENTIAL REMARKS: PUBLIC SAFETY EQUIPMENT, INC.
ST. LOUIS, MISSOURI
AUGUST 27, 1992
9:00 A.M. (??)
Thank you and good morning.
(Acknowledgments)
((This is great. Look at the equipment you have here --
light bars, beacons -- you've given a whole new meaning to a
thousand points of light.))
((I may take some of your sirens back to Washington.
They're the only thing that makes more noise than the White House
press corps.)
You know, the press specializes in the business of bad news.
But today I'd like to open with some good news.
Together we have seen a world transformed these past three
and a half years -- a world made new by American strength and
resolve. And now that the Cold War is over, the defining
challenge of the '90s is to win the economic competition of the
new global economy -- to win the peace.
Our goal is simple and profound: We must be a military
superpower, an economic superpower and an export superpower.
In this election, you'll hear two versions of how to do
this. My opponents' answer is to look inward, and protect what
we already have from the challenges of this new world. My
approach is to look forward -- to open new markets, prepare our
people to compete, to restore our social fabric -- to save and
invest, so that we can win.
2
I wanted to come here today to St. Louis to lay out the
sharp difference between Governor Clinton and me on the crucial
issue of investment and open trade. My policies encourage both -
- because my experience in business and foreign affairs has shown
me that trade and investment create jobs.
In contrast, my opponent and the Democratic Congress want to
tax both trade and investment. But taxes stifle things -- and in
this case, their taxes would chase away business and destroy
jobs.
I know my opponent has lots of slogans and policy buzzwords
that sound appealing when you first hear them -- but America
can't afford them.
Take the story of PSE as an example of America's competitive
capabilities. There was a time when companies like PSE could be
satisfied with a national market -- sell your goods in the fifty
states and leave it at that.
That's no longer good enough. So five years ago, you took
on the world. I'm told that now 35 percent of what you build is
sold outside our borders, in 66 different countries. Today your
light bars and sirens help save lives not only on the streets of
Detroit and Peoria, but in Israel, Hong Kong and Spain.
PSE's story is a parable for our entire country's economic
future -- never settling for less, always pushing ahead,
embracing the challenges of foreign competition and reshaping
them as opportunities.
3
Let me offer a personal note -- tell you how I first learned
about competing in the world.
I spent a good part of my life out in West Texas, in the oil
business. I painted rigs for a while, even lived out of a
suitcase as a salesman. And all around me in those days I saw
towns and businesses rise up from nothing, for a simple reason:
The world wanted what Texas had to offer -- cotton and cattle and
crude.
We understood that the more goods we sold outside our
borders, the more jobs we could create within them.
Later on, when I started my own business, I learned again:
we had to take a global view to compete. I shopped for investors
on the west coast, on the east coast, but I couldn't stop there.
I traveled the world -- to Europe and the Far East. Every dollar
we could bring into this country was a dollar that went to expand
our company, create jobs in our community.
Then when I started to get involved in foreign relations, I
built on that experience. I've learned how important America is
to the world, but also how important the world is to America --
not just for national security in the traditional sense, but for
our economic security, for creating jobs, right here at home.
We've held steady to this vision for three years now, and
we've made real progress. As we knock down trade barriers,
American companies are rushing to meet the demand. Since I took
office, exports have increased by one-third. America is the
4
greatest exporter the world has ever seen -- $422 billion dollars
of exports last year alone.
Let me bring it close to home. In Missouri, exports are up
37 percent over the last three years -- $4.5 billion worth of
goods shipped to 166 countries around the world.
Impressive numbers, but when you dig behind the trade
statistics, you find the real benefit of the new world economy
I
- in a word, it's jobs. Here in Missouri, 100,000 jobs are
supported by foreign trade. Across the country, more than 7
million Americans owe their jobs to trade.
Everyone recognizes that the world is moving at a faster
pace, but I see something more: it's moving our way. Right now
we're building on the export success of the last three years.
Two weeks ago we entered a new era of open trade. Along with
Mexico and Canada, we initialed the North American Free Trade
Agreement, with the goal of knocking down tariffs and creating
one of the largest free-trade areas in the world -- an integrated
economy worth more than $6 trillion dollars.
Here in Missouri, you already export $2 billion worth of
goods to Mexico and Canada. That's a lot of paychecks, but our
new agreement will create still more jobs, and make us even
stronger in the race with our European and Asian competitors.
NAFTA is a solid agreement -- when you've been in as many
tough negotiations as I have, you learn to tell the difference.
We're going to take this case to the protectionists on Capitol
Hill, because they need to hear it. Right now, before our
5
initials are even dry on the agreement, the Democratic leadership
in Congress is calling for us to slap a tarriff on any new trade
that comes from NAFTA.
Think about that for a minute -- ((that's a minute longer
than they've thought about it)). After long, tough negotiations
with our two closest trading partners, we've agreed to end
tariffs. The congressional Democrats say: Okay, fine. But first
you have to put on a new tariff.
In other words, they think the way to eliminate trade
barriers is to build a new trade barrier.
That's like telling us they want us to hit a homerun, but
please only if we run around the bases backward.
This "transaction tax," as they call it, will make it more
expensive for our businesses to compete with the European and
Asians -- and it will discourage the creation of new jobs for you
and your neighbors. It turns the agreement on its head --
defeats the whole purpose.
What about Governor Clinton? Where does he stand? Well,
just last week, when asked about our new trade agreement, he
hemmed and hawed, and at last he said: "When I have a definitive
opinion, I'll say so."
No matter how much Governor Clinton would like to fudge the
issue, the difference couldn't be clearer -- and the difference
is based on two very different views of America's future. My
opponents see us knocking down trade barriers and they say: Hold
everything. They see us open new markets for American goods and
6
they say: Wait a minute. Maybe we can't compete. The American
worker can't cut it. So let's pull down the blinds, lock the
doors and hope the world goes away.
Well, let me tell them something you already know. The
American worker doesn't have to hide from anybody. Americans can
outwork, out-think, out-compete anybody, anywhere, anytime.
That's something everyone in the world seems to understand -
- everyone but the protectionist Democrats. Over the last
decade, we've seen a flood of foreign investment in the United
States -- businesses from all over the world setting up shop from
Portland, Oregon to Portland, Maine. These investors follow a
simple logic: if you want the best science and universities in
the world, if you want the best workers in the world, you have to
come to the U.S.A.
The result has been jobs: One out of every ten manufacturing
workers in the United States works for a company supported by
foreign investment. And that's the bottom line: jobs for
Americans, a growing economic pie for everyone.
Now, here's one issue where Governor Clinton doesn't waffle.
He's surveyed the issue of foreign investment and come out
foresquare for -- you guessed it -- a tax increase.
He's proposed to increase taxes on foreign investment in the
United States, even though those companies employ a total of 4
and one-half million Americans.
[Governor Clinton says his new tax will raise $45 billion.
He might want to talk to his own Democrats on Capitol Hill. The
7
Joint Committee on Taxation says that estimate is about 45 times
too high.]
Governor Clinton says his tax increase will "crack down" on
foreign companies, but all it will really do is drive them out.
And if they go, they'll take those jobs with them.
Travel around this state. Go to New Madrid (MA-drid), talk
to the 1200 employees at Noranda Aluminum -- or to Joplin, talk
to the 425 employees of Atlas Powder. Go to any of the 244
foreign-owned companies that employ 60,000 workers right here in
Missouri. I don't think you're going to find any of those
Missourians railing against the evils of foreign investment.
If Governor Clinton's tax hike had been in effect these past
few years, those companies wouldn't be here -- and those jobs
wouldn't have been created for Missourians.
And it's not just Missouri. Whether it's the Nissan plant
in Tennessee -- or the proposed BMW plant in South Carolina --
Governor Clinton's tax increase would be felt in every region of
every state of this country.
Governor Clinton needs to learn something about
international relations. If he raises this tax, our foreign
competitors are going to say: "What's good for the goose is good
for the gander." His tax is like a gilded invitation sent to
foreign governments where U.S. companies also do business. And
the invititation reads: "Please retaliate."
The result would be not just a reduction in investment here,
but a contraction worldwide. There was another occasion when
8
that happened. It was in 1930. Right before the great
depression.
[[No other major industrial nation favors the kind of tax
increase Governor Clinton proposes -- not Germany, not Japan.
But I can tell you one nation that does tax foreign investment as
he would like: India.
Well, here's a promise I am proud to make: As long as I am
president, India will not be a model for how to conduct economic
policy in the United States of America. ]]
Let's review the facts about Governor Clinton's tax: It
won't raise revenue. It won't create a single job. It will
discourage investment. And it threatens to start a trade war at
the very moment when markets the world over are opening up to
American products.
We should ask why, given all this, Governor Clinton would
ever propose such a tax in the first place. I can tell you why.
Today change is accelerating, and change breeds uneasiness,
skepticism, even fear. And by disparaging foreign investment,
Governor Clinton hopes to exploit the darker fears of this
uncertain age -- fear of the future, fear of the unknown, fear of
foreigners.
Well, let me tell Governor Clinton something: Play politics
all you want, but those are American jobs you're playing politics
with. Those are American workers you're putting at risk.
9
The American people won't buy it. The proudest people on
earth have never stooped to fearmongers before, and we're not
going to start now.
In talking about America's future in the global economy, I
mentioned my own experience, because I want you to understand why
I believe what I do about America's ability to compete. I've
built a business; I've dealt with foreign nations; I know what it
takes to make America secure and strong at home and abroad.
Governor Clinton takes a different view, and it is borne of
his life experience -- a life spent in Arkansas government.
So the American people have a clear choice this year. It's
a choice between the patrons of the past and the architects of
the future. I believe we can shape what lies ahead -- not by
turning away from challenges but by doing what you here at PSE
have done -- meeting the competition head on, making foreign
markets your own.
I have faith in America's future -- because I have faith in
the American people. It's the same faith that brought me out to
Texas more than 40 years ago -- the same faith that brought me
into public life -- the same faith that has led me to fight for
open markets -- because I know that no challenge is too great for
the American heart.
Thank you and God bless you.
#
1518
Aug. 26 / Administration of George Bush, 1992
Note: This proclamation was published in and where appropriate excuse from duty,
the Federal Register on August 28.
without charge to leave or loss of pay, any
such employee who is faced with a personal
emergency because of the storm and who can
be spared from his or her usual responsibil-
Letter to Congressional Leaders
ities. This policy should also be applied to
Reporting a Budget Deferral
any employee who is needed for emergency
August 26, 1992
law enforcement, relief, or clean-up efforts
authorized by Federal, State, or local officials
Dear Mr. Speaker: (Dear Mr. President:)
having jurisdiction.
In accordance with the Congressional
Budget and Impoundment Control Act of
George Bush
1974, I herewith report one deferral of budg-
et authority, totaling $17.6 million. Including
this deferral, funds withheld in FY 1992 now
total $5.8 billion.
Remarks to Public Safety Equipment
The deferral affects the Agency for Inter-
Employees in St. Louis, Missouri
national Development. The details of this de-
ferral are contained in the attached report.
August 27, 1992
Sincerely,
Thank you all. I know, anything to get out
George Bush
of work. [Laughter] Steve, thank you, thank
you very much for that kind and genuine in-
Note: Identical letters were sent to Thomas
troduction. Let me thank some other mem-
S. Foley, Speaker of the House of Representa-
bers of the host committee: Mike Latta, one
tives, and Dan Quayle, President of the Sen-
of the founders, Ed Ryan, Andrew Smith.
ate.
And of course, I'm very, very pleased that
my dear friend and your great Governor,
John Ashcroft, could be with us this morning.
He's done a superb job for this State, and
Memorandum on Administrative
I'm proud to be at his side once again.
Dismissal of Employees Affected by
This is really great. Look at the equipment
Hurricane Andrew
you have here, lightbars, beacons. You've
August 26, 1992
given a new meaning to a thousand points
of light. [Laughter]
Memorandum for the Heads of Executive
Departments and Agencies
Over the past 3½ years we've seen a world
transformed, as Steve mentioned in his intro-
Subject: Administrative Dismissal of
duction. And yes, the cold war is over. And
Employees Affected by Hurricane Andrew
now the defining challenge of the nineties
Our hearts go out to the thousands of
is to win the competition of this new global
Americans in South Florida and along the
economy, to win the peace. Our goal is sim-
Gulf Coast who have suffered tragic losses
ple and profound: We must be a military su-
at the hands of Hurricane Andrew. Many
perpower, an economic superpower, and an
parts of the Federal Government have been
export superpower.
mobilized to respond to this disaster and to
In this election, you're going to hear two
begin a massive effort to recover from the
versions of how to do this. My opponent's
ravages of this storm.
answer is to turn inward, to protect what we
As part of this effort, I request heads of
already have from the challenges of this new
executive departments and agencies who
world. My approach is to look forward, to
have Federal civilian employees in the geo-
look out, to open new markets, prepare our
graphic areas designated as disaster areas be-
people to compete, to restore our social fab-
cause of Hurricane Andrew to use their dis-
ric, and to save and invest so that we can
cretion under OPM and agency regulations
win.
orge Bush, 1992
Administration of George Bush, 1992 / Aug. 27
1519
use from duty,
I've come to St. Louis today not to-you'll
nomics in the oil fields of west Texas, paint-
OSS of pay, any
be happy to know-not to have a political
ing rigs, and then for a while I drove tens
with a personal
rally, but really to deliver a serious message
of thousands of miles through the fields in
rm and who can
to the people in this factory, the people in
Texas and New Mexico and then California
sual responsibil-
Missouri, and the people in the country. I
and back to Texas. All around me in those
) be applied to
want to point out the sharp difference be-
days I saw towns and businesses start from
1 for emergency
tween Governor Clinton and me on the cru-
nothing, for a simple reason: The world want-
clean-up efforts
cial issues of investment and open trade. My
ed what Texas had to offer: cotton, cattle,
or local officials
policies encourage both because my experi-
crude.
ence in business and foreign affairs has
Later on, when I started my own business,
shown me that trade and investment create
I shopped for investors on the west coast and
George Bush
jobs.
the east coast, but I couldn't stop there. I
In contrast, my opponent and, regrettably,
traveled the world. We had a tiny company,
the Democratic Congress want to tax both
smaller than PSE by far. And that little com-
trade and investment. But common sense
pany exported our services, and I think suc-
y Equipment
tells us that if you tax something you get less
cess, to Japan, to Brunei, to South America,
Missouri
of it. Taxes stifle growth and chase away busi-
and to the Middle East. We created Amer-
ness and destroy jobs.
ican jobs in the process.
I know that the other side has lots of slo-
Now, I tried to build on that experience
vthing to get out
gans and policy buzzwords that sound ap-
when I got involved in foreign relations. And
hank you, thank
pealing when you first hear them, but Amer-
I saw again how important America is to the
and genuine in-
ica cannot afford them. There's a difference
world, and how important the world is to
me other mem-
between soundbites and sound policy. Talk
America, not just for national security in the
Mike Latta, one
is cheap until you get the bill.
traditional sense, but for economic security,
Andrew Smith.
The reason I'm so pleased to be here is
for our own economic security, for creating
ery pleased that
because PSE is an example of where I be-
jobs right here at home.
great Governor,
lieve this whole country should go and how
We've held steady to this vision for 3 years
us this morning.
we should get there. Not so long ago compa-
now, and we have made solid progress. As
this State, and
nies like PSE could be satisfied with a na-
we knock down trade barriers, American
ice again.
tional market, sell your goods in the 50
companies are rushing to meet the demand
States, leave it at that.
it the equipment
all around the world. More and more people
beacons. You've
That's no longer good enough. So a few
are buying American. Since I took office, ex-
years ago, you decided to take on the world.
thousand points
ports have increased by. one-third. America
I'm told that now 35 percent, or about a third
is the greatest exporter in the entire world,
of what you make, is sold outside the borders
greatest one the world has ever seen, $422
e've seen a world
of the United States and in 48 different coun-
billion of exports last year alone.
oned in his intro-
tries. Today your lightbars and sirens help
Let me bring that right into the shop here
war is over. And
save lives not only on the streets of Detroit
in St. Louis, bring it close to home. In Mis-
e of the nineties
and Peoria, but in Israel, Hong Kong, and
souri, exports are up 37 percent over the last
of this new global
Spain. I was told that when the Kuwaitis,
3 years, $3.8 billion worth of goods shipped
Our goal is sim-
their country freed, went back in that your
to 151 countries around the world. It looks
be a military su-
products helped lead the way and keep the
like the "Show Me State" is showing the
erpower, and an
peace.
world.
You know, your story is a parable for our
Now these numbers are impressive, but
oing to hear two
Nation's economic future. You've taken the
when you dig behind them, get in behind
My opponent's
challenges of foreign competition and re-
the math, you find the real benefit of the
protect what we
shaped them as opportunities, made your
new world economy, and in a word, it is jobs.
enges of this new
name literally a standard of excellence. You
Here in Missouri, 150,000 jobs are supported
look forward, to
should be very, very proud of that, every sin-
by foreign trade. Across the country, more
kets, prepare our
gle person that works here.
than 7 million Americans owe their jobs to
re our social fab-
I don't want to bore you with life history,
exports.
so that we can
but let me tell you how I first learned about
Everyone recognizes, everyone now, that
competing in the world. I learned my eco-
the world is moving at a faster clip, but I
1520
Aug. 27 / Administration of George Bush, 1992
see something more: It's moving our way.
views of our future. My opponents see us
Right now we're building on the export suc-
knock down trade barriers, and they say,
cess of the last 3 years. Two weeks ago we
"Hold everything." They see us open new
entered into an era, a new era, I'd say, of
markets for American goods and they say,
open trade. Along with Mexico and Canada,
"Wait a minute. Maybe we can't compete.
we concluded talks on the North American
Maybe the American worker can't cut it. So
free trade agreement, called NAFTA, knock-
let's pull down the blinds, lock the doors, and
ing down tariffs and creating one of the larg-
hope the world goes away."
est free-trade areas in the world, an inte-
Let me tell them something you already
grated economy worth more than $6 trillion.
know in this plant. The American worker
Here in Missouri, you already export $2
doesn't have to hide from anybody. Ameri-
billion worth of goods to Mexico and Canada.
cans can outwork, outthink, outcompete any-
That's a lot of paychecks, but our new agree-
body, anywhere, anytime. And that's what
ment will create even more American jobs
we're trying to do: expand these markets.
and make us even stronger in the race with
That's something everyone in the world
our European and Asian competitors.
seems to understand, everybody but the pro-
NAFTA is a solid agreement. But right
tectionist Democrats.
now, before the ink is even dry, the Demo-
Over the last decade, we have literally seen
cratic leadership in the Congress is calling
a boom in foreign investment in the United
for us to slap a tariff on any new trade that
States, even when things are very, very tough
comes from NAFTA. Now, you've got to-
at home. We've seen a boom in that. Busi-
this is complicated, but just think about it
nesses from all over the world coming here,
for a minute. After long and tough negotia-
setting up shop from Portland, Oregon to
tions with our closest trading partners, we've
Portland, Maine. These investors follow a
agreed to end tariffs. The protectionist
simple logic: If you want the best science and
Democrats say, "Okay, fine. But first you
universities in the world, if you want the best
have to put on a new tariff."
workers in the world, you have to come to
In other words, they think the way to
the United States of America. And the result
eliminate trade barriers is build a new trade
has been jobs. One out of every ten manufac-
barrier. And they call this new tariff a trans-
turing workers in the United States works
action tax. It'll make it more expensive for
for a company supported by foreign invest-
businesses like yours to compete in the world
ment. That's the bottom line: jobs for Ameri-
economy. And it will discourage the creation
cans, a growing economic pie for everyone.
of new jobs for your neighbors and, most im-
Now, here's one issue Governor Clinton
portant, for you. It turns the agreement on
does not fudge. He's proposed to increase
its head. They may think that's good politics,
taxes on foreign investment in the United
but it is, frankly, lousy policy.
States, even though those companies employ
Now, you might ask, what about Governor
a total of 4½ million American workers. Gov-
Clinton on this, where does he stand? Just
ernor Clinton says his tax increase will crack
last week, he was asked about our new trade
down on foreign companies. But that crack-
agreement, and he hemmed and hawed, and
down is more like an eviction notice. When
at last he said, and I quote, "When I have
those companies pack their bags, they'll take
a definitive opinion, I'll say so." I hope no-
those jobs with them. I'm not going to let
body's planning to hold their breath on this
that happen.
one. [Laughter] I know politics. And I guess
We've got to open markets. We've got to
as a candidate you can be on both sides of
encourage investment here, encourage in-
every question. But as a President, you can-
vestment abroad, create new markets for the
not. You have to make the tough decisions.
American worker.
And you shouldn't be on both sides of each
All I ask is that you just travel around this
issue.
State. Go to New Madrid, talk to the 1,200
Governor Clinton can fudge all he wants,
employees at Noranda Aluminum, or to Jop-
but the difference couldn't be clearer. The
lin, talk to the 425 employees at Atlas Pow-
difference is based on two very different
der. Go to any of the 244 foreign-owned
orge Bush, 1992
Administration of George Bush, 1992 / Aug. 27
1521
oponents see us
companies that employ 60,000 workers,
do anything for political gain. But he should
and they say,
60,000 Missouri workers right here. And I
understand what's at stake here. And if he
e us open new
don't think you're going to find any of those
doesn't understand it, let me tell him. Those
is and they say,
Missourians complaining about foreign in-
are American jobs he's playing politics with.
can't compete.
vestment. If Governor Clinton's tax hike had
Those are American workers he's putting at
r can't cut it. So
been in effect these past few years, those
risk. The American people simply won't buy
ck the doors, and
companies simply would not be here, and
it. The proudest people on Earth have never
those jobs wouldn't have been created for
stooped to fearmongers before, and we must
ing you already
the citizens of Missouri. And it's not just Mis-
not stoop now to fearmongers.
merican worker
souri. Whether it's the Nissan plant in Smyr-
In talking about our future in the global
.nybody. Ameri-
na, Tennessee, or the Honda plant in
economy, I mentioned, touched on my own
outcompete any-
Marysville, Ohio, Governor Clinton's tax in-
experience because I want you to understand
And that's what
crease would be felt in every region of every
why I believe what I do about America's abil-
these markets.
State in this country.
ity to compete. I've, with a lot of help, built
in the world
And he could use a lesson in international
a business; and I've dealt with foreign na-
ody but the pro-
relations. If he raises this tax, our foreign
tions. I know how to bring it together. I know
competitors are going to say, "What's good
what it takes to make America secure and
ave literally seen
for the goose is good for the gander." His
strong at home and abroad.
it in the United
tax hike is like a gilded invitation sent to for-
So, you see, your vote will make a dif-
very, very tough
eign governments where U.S. companies do
ference this year, not only in the Presidential
n in that. Busi-
business. And the invitation reads: Please re-
election. When you look at your candidates
-Id coming here,
taliate. You do not want these governments
for Congress, I'd like you to ask them some-
and, Oregon to
abroad to retaliate against Code 3, against
thing. Ask them where they stand on keeping
vestors follow a
your wonderful products because of tariff
America an export superpower, on our new
best science and
policies or tax policies in the United States.
trade agreement, and on Governor Clinton's
ou.want the best
His tax would not only destroy jobs and
new taxes on investment and jobs. Please lis-
have to come to
reduce investment here, it would do the
ten to the answers very carefully. Don't let
1. And the result
same throughout the global economy, caus-
them talk any longer-talk one way in Mis-
ery ten manufac-
ing a worldwide contraction. I don't have to
souri and another way back in Washington,
ed States works
ask you to go back to the history books, but
DC.
/ foreign invest-
there was an occasion when that happened,
And this is important. Please follow up.
jobs for Ameri-
right before the Great Depression. And we're
Some of them will do more flip-flops than
ie for everyone.
fighting our way out of a tough recession
Ozzie Smith out there. [Laughter] I'll give
overnor Clinton
now, and we don't need to throw more Amer-
you an example. Earlier this summer we lost
sed to increase
icans out of work. So look carefully at this
a close battle in Congress for a constitutional
t in the United
taxing.
amendment to balance the Federal budget,
ompanies employ
Those are the facts about Governor Clin-
to discipline the Congress and discipline the
an workers. Gov-
ton's tax: It will literally destroy jobs, discour-
executive branch. One of St. Louis' rep-
crease will crack
age investment, and it threatens to start an
resentatives, Joan Kelly Horn, signed up-
But that crack-
economic war just as markets the world over
this is going to be hard for you to believe-
in notice. When
are opening up to American products.
signed up as a co-sponsor, one of the leaders
bags, they'll take
We should ask why, given all this, Gov-
of, a co-sponsor of the amendment to cause
not going to let
ernor Clinton would ever propose such a tax
us to have to balance the budget. She signed
in the first place. Well, I have a hunch. Today
up in April. And then when it came to the
ts. We've got to
change is accelerating, and change breeds a
vote, she flipped. She voted against the very
encourage in-
certain uneasiness, skepticism, even fear.
same amendment that she had co-sponsored.
markets for the
And by attacking the bogeymen of foreign
Enough is enough. This fall ask her about
investors, Governor Clinton hopes to exploit
that balanced budget amendment, and vote
ravel around this
the darker impulses of this uncertain age:
for Jim Tallent, her opponent. And I know
alk to the 1,200
fear of the future, fear of the unknown, fear
Matt Holekamp supports the balanced budg-
inum, or to Jop-
of foreigners.
et amendment, too. Vote for him. We need
es at Atlas Pow-
Now, I know his reputation for opportun-
to make people do in Washington what they
1 foreign-owned
ism, as the kind of guy who will say anything,
tell you in Missouri they're going to do.
1522
Aug. 27 / Administration of George Bush, 1992
Well, anyway, those are the kind of choices
and mention those Olympians that were
we face this year, a choice between the pa-
here, Mike McMurray and Joe Hudepohl
trons of the past and the architects of the
and Tim Austin, thanking them for being
future. I believe we can shape our future not
with us and for what they did for the United
by taxing trade, but by opening markets; not
States of America in Barcelona. Also, a spe-
by scaring off investment, but by using it to
cial thanks to my friend Johnny Bench,
create jobs for ourselves and our kids.
everybody's hero.
I have great faith in America's future be-
These athletes, these competitors know
cause I have faith in the American people
something about competition, and this year's
and in the American worker. It is the same
campaign is about one question: how Amer-
faith that brought me out to Texas more than
ica can win the economic competition and
40 years ago, the same faith that brought me
win the peace. I believe I am the person to
into public life, the same faith that has led
lead us to do just that.
me to fight for these open markets, because
You know, you can't build a home without
I know that no challenge is too great for the
a hammer; you can't build a dream without
hearts and the minds of America.
a job. So you need to know which candidate
And lastly, do not listen to the pessimists
has a plan to fulfill your dreams. I believe
who tell you that the United States of Amer-
I have the plan that works for America. My
ica is in decline. We are at the sunrise, not
plan starts with the idea that the deficit, the
the sunset. And if we pursue these opening
big spending deficit, is a dark cloud hovering
of markets, we will demonstrate to the entire
over the future of these kids. The Federal
world once again why everybody looks to
Government spends too much of your hard-
America: peace, security, strength, freedom,
earned money. Help me put an end to that.
democracy, and an ability to outwork any-
I have asked Congress to take over 4,000
body, anywhere, anytime.
specific projects, 250 Federal programs and
Thank you all very, very much. And God
send them the way of the pet rocks and the
bless you.
mood rings. And they refuse to act.
Here's another idea. So far, Congress has
Note: The President spoke at 9:10 a.m. on
said no to my efforts to cut spending. So last
the shop floor at Public Safety Equipment,
week I put. forth a new idea. If they can't
Inc. In his remarks, he referred to PSE offi-
do it, I want to give you, the taxpayer, the
cials Stephen Rose, engineer; Michael D.
power to take up to 10 percent of your tax
Latta, president; Edward F. Ryan, vice presi-
return, earmark it for one purpose only: re-
dent, marketing; and Andrew G. Smith, vice
duce the dangerous Federal deficit. If you
president, engineering; and Ozzie Smith of
can check off for America, I believe we will
the St. Louis Cardinals baseball team.
finally get the big spenders up there in Wash-
ington in check.
You might say, "How do we create jobs
in America?" Well, unlike my opponent, I
Remarks to a Bush-Quayle Rally in
spent half my life in the private sector, trying
Cincinnati, Ohio
to meet a payroll, like many of you out here.
August 27, 1992
I happen to believe that having held a job
in the private sector is a good qualification
The President. Thank you very much.
for President of the United States or for any-
Hey, George Voinovich, thank you very, very
thing else.
much. Thank you. Last time I was at a rally
I know this, that taxes stifle growth and
at this marvelous park, Johnny Bench and
they stop job creation. So with a new Con-
I rode in on a fire engine, and it started to
gress, and we're going to have a new one,
rain. Now the sun is out, and things are look-
we will cut spending, and then we'll cut taxes.
ing good.
They want to increase spending and increase
I want to thank George Voinovich, all our
taxes, and that is the big difference.
other great leaders here. I want to thank
Another thing: I want to get rid of all those
Ronnie McDowell for that musical number
crazy lawsuits. If you fall off a stepladder
Document No. 346876ss
6508
WHITE HOUSE STAFFING-MEMORANDUM
DATE:
ACTION/CONCURRENCE/COMMENT P8:27 DUE 27 BY: 10:00 a.m. 08/26
P8:
08/25/92
SUBJECT: PRESIDENTIAL REMARKS: PUBLIC SAFETY EQUIPMENT, INC., ST. LOUIS, MO-
08/27/92
ACTION FYI
ACTION FYI
VICE PRESIDENT
MOORE
BAKER
MULLINS
SCOWCROFT
PETERSMEYER
DARMAN
PORTER
BRADY
PROVOST
BROMLEY
ROSS
CALIO
SMITH
DEMAREST
TUTWILER
FITZWATER
ZOELLICK
GRAY
KAUFMAN
HOLIDAY
MCGROARTY
HORNER
BOSKIN
MCBRIDE
REMARKS:
Please provide any comments directly to Dan McGroarty, Rm. 122,
X 2930, no later than 10:00 a.m. on Wednesday, 08/26, with a copy
to this office. Thanks.
RESPONSE: TO:
DAN MCGROARTY
August 26, 1992
The NSC staff concurs with the presidential
PHILLIP D. BRADY
remarks as amended.
B
Assistant to the President
and Staff Secretary
Brent Scowcroft
Ext. 2702
CC: Phillip D. Brady
(Ferguson/Walters
August 25, 1992
12/203/25 P6: 43
6:40 p.m.
STLOUIS
PRESIDENTIAL REMARKS: PUBLIC SAFETY EQUIPMENT, INC.
ST. LOUIS, MISSOURI
AUGUST 27, 1992
9:00 A.M. (??)
Thank you and good morning.
(Acknowledgments, humor)
Together we have seen a world transformed these past three
and a half years -- a world made new by American strength and
resolve. But now that the Cold War is over, the defining
challenge of the '90s is to win the economic competition of the
new global economy -- to win the peace.
Our goal is simple and profound: We must be a military
superpower, an economic superpower and an export superpower.
In this election, you'll hear two versions of how to do
this. My opponents' answer is to look inward, and protect what
we already have from the challenges of this new world. My
approach is to look forward -- to open new markets, prepare our
people to compete, to restore our social fabric -- to save and
invest, so that we can win.
Twenty five years ago, where you're standing was a patch of
bleak, undeveloped real estate. Now look around -- because of
your dreams and hard-work, that patch of ground is a bustling
factory, creating light bars and sirens that help save lives and
keep the peace from Manila to Santiago
These haven't always becaused ay
democratic governments to "keep
the peace. Need to pick severatothers
2
There was a time when companies like PSE could be satisfied
with a national market -- sell your goods in the fifty states and
leave it at that.
But you here at PSE know that's no longer good enough. So
five years ago, you took on the world. I'm told that now 35
percent of what you build right here is sold outside our borders,
in 66 different countries. That bold, forward-looking strategy
has helped you weather the uncertainties of the past few years.
PSE's story is a parable for our entire country's economic
future -- never settling for less, always pushing ahead,
embracing the challenges of foreign competition and reshaping
them as opportunities.
Let me offer a personal note -- tell you how I learned about
competing in the world.
I spent a good part of my life out in West Texas, in the oil
business. I painted rigs for a while, even lived out of a
suitcase as a traveling salesman. And all around me in those
days -- the fifties and early sixties -- I saw towns and
businesses bloom from those dusty plains like desert flowers.
Why? The reason was simple: The world wanted what Texas
had to offer -- cotton and cattle and crude.
We understood that the more goods we sold outside our
borders, the more jobs we could create within them.
Later on, when I started my own business, I learned again:
we had to take a global view to compete. I shopped for investors
on the west coast, on the east coast, but I couldn't stop there.
4
Everyone recognizes that the world is moving at a faster
pace than ever, but I see something more: it's moving our way.
Right now we're building on the export success of the last three
years. Two weeks ago we entered a new era of open trade. Along
with Mexico and Canada, we announced initialed the North American Free
Trade Agreement, with the goal of creating one of the largest
free-trade areas in the world -- an integrated economy worth more
than $6 trillion dollars.
Here in Missouri, you already export $2 billion worth of
goods to Mexico and Canada. That's a lot of paychecks, but our
new agreement will make that success look like kid's stuff.
NAFTA is a solid agreement -- when you've been in as many
tough negotiations as I have, you learn to tell the difference.
It will protect the environment, and more important, it will
protect American workers. And more: it will create new jobs for
this generation and the next -- especially the kind of high-
tech, high-wage jobs we'll be proud to pass on to our children.
We're going to take this case to the liberal Democrats on
Capitol Hill, because they need to hear it. A free-trade
agreement isn't a way of dividing up the economic pie, where one
side's loss is another side's gain; it's a way of making the pie
bigger for everyone who participates.
The liberals don't seem to get it. Right now, in fact,
before our initials are even dry on the agreement, the liberals
in Congress -- led by somebody who might be familiar to you,
5
Congressman Dick Gephardt -- are calling for us to slap a tarriff
on any new trade that comes from NAFTA.
Think about that for a minute -- ((which is a minute longer
than they've thought about it)). After years of tough
negotiations with our two closest trading partners, we've agreed
to end tariffs. The congressional Democrats say: Okay, fine.
But first you have to put on a new tariff.
In other words, the only way they'll agree to reduce tariffs
is if they can raise tariffs.
That's like telling us they want us to hit a homerun, but
please don't hit it out of the park because we don't want to lose
the ball.
This "transaction tax," as they call it, will increase the
cost of goods you want to buy, and discourage the creation of new
jobs for you and your neighbors. It turns the agreement on its
head -- defeats the whole purpose.
Now, I suppose I could ask my opponent to help me out with
his liberal Democrat colleagues on Capitol Hill. Governor
Clinton says he's for free trade "in principle."
But "in practice" may be a different story. Actually, it's
not clear where the governor stands. Last year, Mr. Clinton
called a free-trade pact with Mexico "imperative." Then this
April, the Washinton Post reported that the protectionists were
"breathing easier" because he endorsed their trade position.
Then in July, he said he was "applauding Majority Leader
Gephardt's efforts."
6
This week, maybe the governor delivered his final word on
the subject. He said he was studying our agreement. Then he
said: "When I have a definitive opinion, I'll say so."
The way Governor Clinton wiggles on free trade, I'm not
surprised he compares himself to Elvis.
No matter how much Governor Clinton would like to fudge the
issue, the difference couldn't be clearer -- and the difference
is based on two very different views of America's future. My
opponents see trade barriers falling and they say: Hold
everything. They see new markets for American goods and they
say: Wait a minute. We can't compete. The American worker can't
cut it. So let's pull down the blinds, lock the doors and hope
the world goes away.
Well, let me tell them something you already know. The
American worker doesn't have to hide from anybody. We have the
most productive workforce in the world. Americans can outwork,
out-think, out-compete anybody, anywhere, anytime.
That's something everyone in the world seems to understand -
- everyone but the protectionist Democrats. Over the last
decade, we've seen a flood of foreign investment in the United
States, with businesses from all over the world setting up shop
from Portland, Oregon to Portland, Maine. These investors are
following a simple logic: if you want the best science and
universities in the world, if you want the best workers in the
world, you have to come to the U.S.A.
7
Now, this investment makes some people uneasy. I understand
that -- particularly when the other side tries to stir up fear
and resentment against foreign capital. I was in Utah not long
ago, and a very articulate woman confronted me on the issue. I
told her we probably couldn't see eye to eye on it, but I tried
to tell her why I felt so strongly against the isolationism that
would keep foreign investment out of America.
There was an irony in her timing. I had just returned from
meeting with the heads of the industrialized countries in Munich,
and while I was there I was pleased to team up with Governor
Carroll of South Carolina and the head of BMW to announce a new
BMW plant in South Carolina. That means 10,000 jobs to the
people of that state.
Now, I don't think the 10,000 South Carolinians who get
those jobs are going to argue against foreign investment. One
out of every ten manufacturing workers in the United States works
for a company supported by foreign investment. That's the bottom
line on foreign investment in the U.S.: jobs
jobs for
Americans, and growth for the American economy
That's the way the world works in a global economy. Again,
Governor Clinton just doesn't seem to understand. But he's not
wiggling on the issue of foreign investment -- not at all.
He's
surveyed the issue and come out foresquare for -- you guessed it
-- a tax increase.
at the sametime, same
america is the largest
investor overseas
8
He's proposed to increase taxes on foreign investment in the
United States, each one of those companies that employ a total of
4 and one-half million Americans.
Governor Clinton says his new tax will raise $45 billion.
He might want to talk to his own Democrats on Capitol Hill. The
Joint Committee on Taxation says that estimate is about 45 times
too high.
Governor Clinton says his tax increase will "crack down" on
foreign companies, but all it will really do is drive them out.
And if they go, they'll take those jobs with them.
Travel around this state. Go to New Madrid (MA-drid), talk
to the 1200 employees at Noranda Aluminum -- or to Joplin, talk
to the 425 employees of Atlas Powder. Go to any of the 244
foreign-owned companies that employ 60,000 workers right here in
Missour!
If Governor Clinton's tax hike had been in effect these past
few years, few if any of those companies would have located in
the United States -- few if any of those jobs would have been
created for Missourians.
And it's not just Missouri. Whether it's the Nissan plant
in XX Tennessee -- whether it's the XX plant in xx, XX --
Governor Clinton's tax increase would be felt in every region of
every state of this country.
Governor Clinton forgets something about international
relations. If he raises this tax, our foreign competitors are
going to say: "What's good for the goose is good for the gander."
9
His tax is like a gilded invitation sent to foreign governments
where U.S. companies also do business. And the invititation
reads: "Please retaliate."
The result would be not just a reduction in investment here,
but a contraction worldwide. There was another occasion when
that happened. It was in 1930. Right before the great
depression.
No other major industrial nation has the kind of tax
Governor Clinton proposes -- not Germany, not Japan. But I can
tell you one nation that does tax foreign investment as he would
like: India.
Well, here's a promise I am proud to make: As long as I am
president, India will not be a model for how to conduct economic
policy in the United States of America.
So let's review the facts about Governor Clinton's tax: It
won't raise revenue. It won't create a single job. It will
discourage investment. And it threatens to start a trade war at
the very moment when markets the world over are opening up to
American products.
We should ask why, given all this, Governor Clinton would
ever propose such a tax in the first place. I can tell you why.
Today change is accelerating, and change breeds uneasiness,
skepticism, even fear. And by disparaging foreign investment,
Governor Clinton hopes to exploit the darker fears of this
uncertain age -- fear of the future, fear of the unknown, fear of
foreigners.
10
Well, let me tell Governor Clinton something: You can play
politics with, but those are American jobs you're playing
politics with. Those are American workers you're putting at
risk.
The American people won't buy it. We're bigger than that.
The proudest people on earth have never stooped to fearmongers
before, and we're not going to start now.
In talking about America's future in the global economy, I
mentioned my own experience, because I want you to understand why
I believe what I do about America's ability to compete. Governor
Clinton takes a different view, and it is borne of his life
experience -- a life spent in government.
You see the difference on issue after issue. I understand
that you boost the economy by cutting taxes. I understand that
you cut the deficit by cutting spending. I understand that you
open markets by tearing down barriers -- by sitting down at the
table and hammering out a tough and fair agreement.
So the American people have a clear choice this year. It's
a choice between the patrons of the past and the architects of
the future. I believe we can shape what lies ahead -- not by
turning away from challenges but by doing what you here at PSE
have done. You didn't shrink from challenge, you embraced it.
You didn't shrink from competition, you met it head on. You
didn't retreat from foreign markets, you conquered them.
I have faith in America's future -- because I have faith in
the American people. It's the same faith that brought me out to
11
Texas more than 40 years ago -- the same faith that brought me
into public life -- the same faith that has led me to fight for
open markets -- because I know that no challenge is too great for
the American heart.
Thank you and God bless you.
#
#
Document No. 346876ss
WHITE HOUSE STAFFING MEMORANDUM
DATE:
08/25/92
ACTION/CONCURRENCE/COMMENT DUE BY: 10:00 a.m. 08/26
SUBJECT: PRESIDENTIAL REMARKS: PUBLIC SAFETY EQUIPMENT, INC., ST. LOUIS, MO-
08/27/92
ACTION FYI
ACTION FYI
VICE PRESIDENT
X MOORE to McB By
BAKER
MULLINS N/C
SCOWCROFT
PETERSMEYER
DARMAN
PORTER
BRADY
x
PROVOST
BROMLEY
ROSS to Mcr,
CALIO to AF
By phone
SMITH
my phane
DEMAREST per poeton
TUTWILER
FITZWATER
ZOELLICK
GRAY
N/C
KAUFMAN to Mcr By phone
HOLIDAY
MCGROARTY
HORNER
BOSKIN
MCBRIDE
REMARKS:
Please provide any comments directly to Dan McGroarty, Rm. 122,
X 2930, no later than 10:00 a.m. on Wednesday, 08/26, with a copy
to this office. Thanks.
RESPONSE:
Called 9:00
PHILLIP D. BRADY
10:30
Assistant to the President
and Staff Secretary
11:15
Ext. 2702
(Ferguson/Walters)
August 25, 1992
6:40 p.m.
2 AUG 25 P6: 43
STLOUIS
PRESIDENTIAL REMARKS: PUBLIC SAFETY EQUIPMENT, INC.
ST. LOUIS, MISSOURI
AUGUST 27, 1992
9:00 A.M. (??)
Thank you and good morning.
(Acknowledgments, humor)
Together we have seen a world transformed these past three
and a half years -- a world made new by American strength and
resolve. But now that the Cold War is over, the defining
challenge of the '90s is to win the economic competition of the
new global economy -- to win the peace.
Our goal is simple and profound: We must be a military
superpower, an economic superpower and an export superpower.
In this election, you'll hear two versions of how to do
this. My opponents' answer is to look inward, and protect what
we already have away from the challenges of this new world. My
approach is to look forward -- to open new markets, prepare our
people to compete, to restore our social fabric -- to save and
invest, so that we can win.
Twenty five years ago, where you're standing was a patch of
bleak, undeveloped real estate. Now look around -- because of
your dreams and hard-work, that patch of ground is a bustling
factory, creating light bars and sirens that help save lives and
keep the peace from Manila to Santiago.
2
There was a time when companies like PSE could be satisfied
with a national market -- sell your goods in the fifty states and
leave it at that.
But you here at PSE know. that's no longer good enough. So
five years ago, you took on the world. I'm told that now 35
percent of what you build right here is sold outside our borders,
in 66 different countries. That bold, forward-looking strategy
has helped you weather the uncertainties of the past few years.
PSE's story is a parable for our entire country's economic
future -- never settling for less, always pushing ahead,
embracing the challenges of foreign competition and reshaping
them as opportunities.
Let me offer a personal note -- tell you how I learned about
competing in the world.
I spent a good part of my life out in West Texas, in the oil
business. I painted rigs for a while, even lived out of a
suitcase as a traveling salesman. And all around me in those
days -- the fifties and early sixties -- I saw towns and
businesses bloom from those dusty plains like desert flowers.
Why? The reason was simple: The world wanted what Texas
had to offer -- cotton and cattle and crude.
We understood that the more goods we sold outside our
borders, the more jobs we could create within them.
Later on, when I started my own business, I learned again:
we had to take a global view to compete. I shopped for investors
on the west coast, on the east coast, but I couldn't stop there.
3
I traveled the world -- to Europe and the Far East. Every dollar
we could bring into this country was a dollar that went to expand
our company, create jobs in our community.
I've seen it over and over again: as U.N. ambassador, envoy
to China, and now as president. You learn how important America
is to the world, but you also learn how important the world is to
America -- not just for national security, not just for military
preparedness, but for creating jobs, right here at home.
We've held steady to this vision for three years now, and
with great success. As we knock down trade barriers, American
companies are rushing to meet the demand. Exports are up XXX in
the last five years; America is once again the world's leading
exporter.
What does that mean right here? I'll bring it closer to
home. In Missouri, exports are up 37 percent over the last three
years -- $4.5 billion worth of goods shipped to 166 countries on
every continent.
Impressive numbers, but when you get behind the abstractions
of export figures and trade statistics, you find the real benefit
of the new world economy -- in a word, it's jobs. Here in
Missouri, 100,000 jobs are supported by foreign trade. Across
the country, more than 7 million Americans are employed for the
same reason.
That's the way the world works these days. It's a world
where products can be shipped at the speed of sound and
investment money can cross borders at the speed of light.
4
Everyone recognizes that the world is moving at a faster
pace than ever, but I see something more: it's moving our way.
Right now we're building on the export success of the last three
Ross
years
Two weeks ago we entered a new era of open trade. Along
We
with Mexico and Canada, we initialed the North American Free
laying The forndation
Trade Agreement, with the goal of creating one of the largest
free-trade areas in the world -- an integrated economy worth more
for
were
than $6 trillion dollars.
growth
more
Here in Missouri, you already export $2 billion worth of
Jobs.
goods to Mexico and Canada. That's a lot of paychecks, but our
new agreement will make that success look like kid's stuff.
NAFTA is a solid agreement -- when you've been in as many
tough negotiations as I have, you learn to tell the difference.
It will protect the environment, and more important, it will
protect American workers. And more: it will create new jobs for
this generation and the next -- especially the kind of high-
tech, high-wage jobs we'll be proud to pass on to our children.
We're going to take this case to the liberal Democrats on
Capitol Hill, because they need to hear it. A free-trade
agreement isn't a way of dividing up the economic pie, where one
side's loss is another side's gain; it's a way of making the pie
bigger for everyone who participates.
The liberals don't seem to get it. Right now, in fact,
before our initials are even dry on the agreement, the liberals
in Congress -- led by somebody who might be familiar to you,
5
Congressman Dick Gephardt -- are calling for us to slap a tarriff
on any new trade that comes from NAFTA.
Think about that for a minute -- ((which is a minute longer
than they've thought about it)). After years of tough
negotiations with our two closest trading partners, we've agreed
to end tariffs. The congressional Democrats say: Okay, fine.
But first you have to put on a new tariff.
In other words, the only way they'll agree to reduce tariffs
is if they can raise tariffs.
That's like telling us they want us to hit a homerun, but
please don't hit it out of the park because we don't want to lose
the ball.
This "transaction tax," as they call it, will increase the
cost of goods you want to buy, and discourage the creation of new
jobs for you and your neighbors. It turns the agreement on its
head -- defeats the whole purpose.
Now, I suppose I could ask my opponent to help me out with
his liberal Democrat colleagues on Capitol Hill. Governor
Clinton says he's for free trade "in principle."
as in
so many
Ross
But "in practice" may be a different story. Actually, it's cases,
not clear where the governor stands. Last year, Mr. Clinton
called a free-trade pact with Mexico "imperative." Then this
April, the Washinton Post reported that the protectionists were
"breathing easier" because he endorsed their trade position.
Then in July, he said he was "applauding Majority Leader
Gephardt's efforts."
6
This week, maybe the governor delivered his final word on
the subject. He said he was studying our agreement. Then he
said: "When I have a definitive opinion, I'll say so."
The way Governor Clinton wiggles on free trade, I'm not
surprised he compares himself to Elvis.
No matter how much Governor Clinton would like to fudge the
issue, the difference couldn't be clearer -- and the difference
is based on two very different views of America's future. My
opponents see trade barriers falling and they say: Hold
everything. They see new markets for American goods and they
say: Wait a minute. We can't compete. The American worker can't
cut it. So let's pull down the blinds, lock the doors and hope
the world goes away. Let's tun misand.
Ross X
Well, let me tell them something you already know. The
American worker doesn't have to hide from anybody. We have the
most productive workforce in the world. Americans can outwork,
out-think, out-compete anybody, anywhere, anytime.
That's something everyone in the world seems to understand -
- everyone but the protectionist Democrats. Over the last
decade, we've seen a flood of foreign investment in the United
States, with businesses from all over the world setting up shop
from Portland, Oregon to Portland, Maine. These investors are
following a simple logic: if you want the best science and
universities in the world, if you want the best workers in the
world, you have to come to the U.S.A.
7
Now, this investment makes some people uneasy. I understand
that -- particularly when the other side tries to stir up fear
and resentment against foreign capital. I was in Utah not long
ago, and a very articulate woman confronted me on the issue. I
told her we probably couldn't see eye to eye on it, but I tried
to tell her why I felt so strongly against the isolationism that
would keep foreign investment out of America.
There was an irony in her timing. I had just returned from
meeting with the heads of the industrialized countries in Munich,
and while I was there I was pleased to team up with Governor
Carroll of South Carolina and the head of BMW to announce a new
BMW plant in South Carolina. That means 10,000 jobs to the
people of that state.
will
Ross.
Now, I don't think the 10,000 South Carolinians who get
those jobs are going to argue against foreign investment. One
out of every ten manufacturing workers in the United States works
for a company supported by foreign investment. That's the bottom
line on foreign investment in the U.S.: jobs -- jobs for
Americans, and growth for the American economy.
That's the way the world works in a global economy. Again,
Governor Clinton just doesn't seem to understand. But he's not
wiggling on the issue of foreign investment -- not at all. He's
surveyed the issue and come out foresquare for -- you guessed it
-- a tax increase.
8
He's proposed to increase taxes on foreign investment in the
United States, each one of those companies that employ a total of
4 and one-half million Americans.
Governor Clinton says his new tax will raise $45 billion.
He might want to talk to his own Democrats on Capitol Hill. The
Joint Committee on Taxation says that estimate is about 45 times
too high.
Governor Clinton says his tax increase will "crack down" on
foreign companies, but all it will really do is drive them out.
And if they go, they'll take those jobs with them.
Travel around this state. Go to New Madrid (MA-drid), talk
to the 1200 employees at Noranda Aluminum -- or to Joplin, talk
to the 425 employees of Atlas Powder. Go to any of the 244
foreign-owned companies that employ 60,000 workers right here in
Missour.
If Governor Clinton's tax hike had been in effect these past
few years, few if any of those companies would have located in
the United States -- few if any of those jobs would have been
created for Missourians.
And it's not just Missouri. Whether it's the Nissan plant
in XX Tennessee -- whether it's the XX plant in xx, XX --
Governor Clinton's tax increase would be felt in every region of
every state of this country.
Ross
Maybe Governor Clinton forgets something about international
just doesn't understand
relations. If he raises this tax, our foreign competitors are
going to say: "What's good for the goose is good for the gander."
9
His tax is like a gilded invitation sent to foreign governments
where U.S. companies also do business. And the invititation
reads: "Please retaliate."
The result would be not just a reduction in investment here,
but a contraction worldwide. There was another occasion when
that happened. It was in 1930. Right before the great
depression.
No other major industrial nation has the kind of tax
Governor Clinton proposes -- not Germany, not Japan. But I can
tell you one nation that does tax foreign investment as he would
like: India.
Well, here's a promise I am proud to make: As long as I am
president, India will not be a model for how to conduct economic
policy in the United States of America.
So let's review the facts about Governor Clinton's tax: It
won't raise revenue. It won't create a single job. It will
discourage investment. And it threatens to start a trade war at
the very moment when markets the world over are opening up to
American products.
We should ask why, given all this, Governor Clinton would
ever propose such a tax in the first place. I can tell you why.
Today change is accelerating, and change breeds uneasiness,
skepticism, even fear. And by disparaging foreign investment,
Governor Clinton hopes to exploit the darker fears of this
uncertain age -- fear of the future, fear of the unknown, fear of
foreigners.
10
Well, let me tell Governor Clinton something: You can play
Roas
politics with, but those are American jobs you're playing
politics with. Those are American workers you're putting at
risk.
The American people won't buy it. We're bigger than that.
The proudest people on earth have never stooped to fearmongers
before, and we're not going to start now.
In talking about America's future in the global economy, I
mentioned my own experience, because I want you to understand why
I believe what I do about America's ability to compete. Governor
Clinton takes a different view, and it is borne of his life
experience -- a life spent in government.
You see the difference on issue after issue. I understand
that you boost the economy by cutting taxes. I understand that
Rood
you cut the deficit by cutting spending. I understand that you
+ create new jobs + economic opportunities
open markets by tearing down barriers -- by sitting down at the
table and hammering out a tough and fair agreement.
So the American people have a clear choice this year. It's
a choice between the patrons of the past and the architects of
the future. I believe we can shape what lies ahead -- not by
turning away from challenges but by doing what you here at PSE
have done. You didn't shrink from challenge, you embraced it.
You didn't shrink from competition, you met it head on. You
didn't retreat from foreign markets, you conquered them.
I have faith in America's future -- because I have faith in
the American people. It's the same faith that brought me out to
11
Texas more than 40 years ago -- the same faith that brought me
into public life -- the same faith that has led me to fight for
open markets -- because I know that no challenge is too great for
the American heart. for the American spint.
Thank you and God bless you.
# #
EXECUTIVE OFFICE OF THE PRESIDENT
OFFICE OF MANAGEMENT AND BUDGET
WASHINGTON, D.C. 20503
8.26.92
92 AUG 26 A10: 20
NOTICE:
Enclosed are comments from staff members of the Office of
Management and Budget (OMB). Such comments do not necessarily
represent the official position of the Director of OMB or of the
Office of Management and Budget. If you wish to have the
Director's personal comments, please let me know -- and contact
me if you have any questions.
James UCM C. Murr
Associate Director for
Legislative Reference
and Administration
Document No. 346876ss
WHITE HOUSE STAFFING MEMORANDUM
DATE:
08/25/92
ACTION/CONCURRENCE/COMMENT DUE BY: 10:00 a.m. 08/26
SUBJECT: PRESIDENTIAL REMARKS: PUBLIC SAFETY EQUIPMENT, INC., ST. LOUIS, MO-
08/27/92
ACTION FYI
ACTION FYI
VICE PRESIDENT
MOORE
BAKER
MULLINS
SCOWCROFT
PETERSMEYER
DARMAN
PORTER
BRADY
PROVOST
BROMLEY
ROSS
CALIO
SMITH
DEMAREST
TUTWILER
FITZWATER
ZOELLICK
GRAY
KAUFMAN
HOLIDAY
MCGROARTY
HORNER
BOSKIN
MCBRIDE
REMARKS:
Please provide any comments directly to Dan McGroarty, Rm. 122,
X 2930, no later than 10:00 a.m. on Wednesday, 08/26, with a copy
to this office. Thanks.
RESPONSE:
See comment
PHILLIP D. BRADY
Assistant to the President
and Staff Secretary
Ext. 2702
(Ferguson/Walters)
August 25, 1992
6:40 p.m.
02 AUG 25 P6: 43
STLOUIS
PRESIDENTIAL REMARKS: PUBLIC SAFETY EQUIPMENT, INC.
ST. LOUIS, MISSOURI
AUGUST 27, 1992
9:00 A.M. (??)
Thank you and good morning.
(Acknowledgments, humor)
Together we have seen a world transformed these past three
and a half years -- a world made new by American strength and
resolve. But now that the Cold War is over, the defining
challenge of the '90s is to win the economic competition of the
new global economy -- to win the peace.
Our goal is simple and profound: We must be a military
superpower, an economic superpower and an export superpower.
In this election, you'll hear two versions of how to do
this. My opponents' answer is to look inward, and protect what
we already have from the challenges of this new world. My
approach is to look forward -- to open new markets, prepare our
people to compete, to restore our social fabric -- to save and
invest, so that we can win.
Twenty five years ago, where you're standing was a patch of
bleak, undeveloped real estate. Now look around -- because of
your dreams and hard-work, that patch of ground is a bustling
factory, creating light bars and sirens that help save lives and
keep the peace from Manila to Santiago.
2
There was a time when companies like PSE could be satisfied
with a national market -- sell your goods in the fifty states and
leave it at that.
But you here at PSE know that's no longer good enough. So
five years ago, you took on the world. I'm told that now 35
percent of what you build right here is sold outside our borders,
in 66 different countries. That bold, forward-looking strategy
has helped you weather the uncertainties of the past few years.
PSE's story is a parable for our entire country's economic
future -- never settling for less, always pushing ahead,
embracing the challenges of foreign competition and reshaping
them as opportunities.
Let me offer a personal note -- tell you how I learned about
competing in the world.
I spent a good part of my life out in West Texas, in the oil
business. I painted rigs for a while, even lived out of a
suitcase as a traveling salesman. And all around me in those
days -- the fifties and early sixties -- I saw towns and
businesses bloom from those dusty plains like desert flowers.
Why? The reason was simple: The world wanted what Texas
had to offer -- cotton and cattle and crude.
We understood that the more goods we sold outside our
borders, the more jobs we could create within them.
Later on, when I started my own business, I learned again:
we had to take a global view to compete. I shopped for investors
on the west coast, on the east coast, but I couldn't stop there.
June 1992 (s2) 38,284,3
June 1988 (sa) 26,655.7
3
al. Samanie 5873 43.6
6
I traveled the world -- to Europe and the Far East. Every dollar
we could bring into this country was a dollar that went to expand
our company, create jobs in our community.
I've seen it over and over again: as U.N. ambassador, envoy
to China, and now as president. You learn how important America
is to the world, but you also learn how important the world is to
America -- not just for national security, not just for military
preparedness, but for creating jobs, right here at home.
We've held steady to this vision for three years now, and
Samalier
with great success. As we knock down trade barriers, American
companies four are rushing to meet the demand. Exports are up 447
5873
the last five years; America is once again the world's leading
exporter.
What does that mean right here? I'll bring it closer to
home. In Missouri, exports are up 37 percent over the last three
years -- $4.5 billion worth of goods shipped to 166 countries on
every continent.
Impressive numbers, but when you get behind the abstractions
of export figures and trade statistics, you find the real benefit
of the new world economy -- in a word, it's jobs. Here in
Missouri, 100,000 jobs are supported by foreign trade. Across
the country, more than 7 million Americans are employed for the
same reason.
That's the way the world works these days. It's a world
where products can be shipped at the speed of sound and
investment money can cross borders at the speed of light.
4
Everyone recognizes that the world is moving at a faster
pace than ever, but I see something more: it's moving our way.
Right now we're building on the export success of the last three
years. Two weeks ago we entered a new era of open trade. Along
with Mexico and Canada, we initialed the North American Free
Trade Agreement, with the goal of creating one of the largest
free-trade areas in the world -- an integrated economy worth more
than $6 trillion dollars.
Here in Missouri, you already export $2 billion worth of
goods to Mexico and Canada. That's a lot of paychecks, but our
new agreement will make that success look like kid's stuff.
NAFTA is a solid agreement -- when you've been in as many
tough negotiations as I have, you learn to tell the difference.
It will protect the environment, and more important, it will
protect American workers. And more: it will create new jobs for
this generation and the next -- especially the kind of high-
tech, high-wage jobs we'll be proud to pass on to our children.
We're going to take this case to the liberal Democrats on
Capitol Hill, because they need to hear it. A free-trade
agreement isn't a way of dividing up the economic pie, where one
side's loss is another side's gain; it's a way of making the pie
bigger for everyone who participates.
The liberals don't seem to get it. Right now, in fact,
before our initials are even dry on the agreement, the liberals
in Congress -- led by somebody who might be familiar to you,
5
Congressman Dick Gephardt -- are calling for us to slap a tarriff
on any new trade that comes from NAFTA.
Think about that for a minute -- ((which is a minute longer
than they've thought about it)) After years of tough
negotiations with our two closest trading partners, we've agreed
to end tariffs. The congressional Democrats say: Okay, fine.
But first you have to put on a new tariff.
In other words, the only way they'll agree to reduce tariffs
is if they can raise tariffs.
That's like telling us they want us to hit a homerun, but
please don't hit it out of the park because we don't want to lose
the ball.
This "transaction tax," as they call it, will increase the
cost of goods you want to buy, and discourage the creation of new
jobs for you and your neighbors. It turns the agreement on its
head -- defeats the whole purpose.
Now, I suppose I could ask my opponent to help me out with
his liberal Democrat colleagues on Capitol Hill. Governor
Clinton says he's for free trade "in principle."
But "in practice" may be a different story. Actually, it's
not clear where the governor stands. Last year, Mr. Clinton
called a free-trade pact with Mexico "imperative." Then this
April, the Washinton Post reported that the protectionists were
"breathing easier" because he endorsed their trade position.
Then in July, he said he was "applauding Majority Leader
Gephardt's efforts."
6
This week, maybe the governor delivered his final word on
the subject. He said he was studying our agreement. Then he
said: "When I have a definitive opinion, I'll say so."
The way Governor Clinton wiggles on free trade, I'm not
surprised he compares himself to Elvis.
No matter how much Governor Clinton would like to fudge the
issue, the difference couldn't be clearer -- and the difference
is based on two very different views of America's future. My
opponents see trade barriers falling and they say: Hold
everything. They see new markets for American goods and they
say: Wait a minute. We can't compete. The American worker can't
cut it. So let's pull down the blinds, lock the doors and hope
the world goes away.
Well, let me tell them something you already know. The
American worker doesn't have to hide from anybody. We have the
most productive workforce in the world. Americans can outwork,
out-think, out-compete anybody, anywhere, anytime.
That's something everyone in the world seems to understand -
- everyone but the protectionist Democrats. Over the last
decade, we've seen a flood of foreign investment in the United
States, with businesses from all over the world setting up shop
from Portland, Oregon to Portland, Maine. These investors are
following a simple logic: if you want the best science and
universities in the world, if you want the best workers in the
world, you have to come to the U.S.A.
7
Now, this investment makes some people uneasy. I understand
that -- particularly when the other side tries to stir up fear
and resentment against foreign capital. I was in Utah not long
ago, and a very articulate woman confronted me on the issue. I
told her we probably couldn't see eye to eye on it, but I tried
to tell her why I felt so strongly against the isolationism that
would keep foreign investment out of America.
There was an irony in her timing. I had just returned from
meeting with the heads of the industrialized countries in Munich,
and while I was there I was pleased to team up with Governor
Carroll of South Carolina and the head of BMW to announce a new
BMW plant in South Carolina. That means 10,000 jobs to the
people of that state.
Now, I don't think the 10,000 South Carolinians who get
those jobs are going to argue against foreign investment. One
out of every ten manufacturing workers in the United States works
for a company supported by foreign investment. That's the bottom
line on foreign investment in the U.S.: jobs -- jobs for
Americans, and growth for the American economy.
That's the way the world works in a global economy. Again,
Governor Clinton just doesn't seem to understand. But he's not
wiggling on the issue of foreign investment -- not at all. He's
surveyed the issue and come out foresquare for -- you guessed it
-- a tax increase.
8
He's proposed to increase taxes on foreign investment in the
United States, each one of those companies that employ a total of
4 and one-half million Americans.
Governor Clinton says his new tax will raise $45 billion.
He might want to talk to his own Democrats on Capitol Hill. The
Joint Committee on Taxation says that estimate is about 45 times
too high.
Governor Clinton says his tax increase will "crack down" on
foreign companies, but all it will really do is drive them out.
And if they go, they'll take those jobs with them.
Travel around this state. Go to New Madrid (MA-drid), talk
to the 1200 employees at Noranda Aluminum -- or to Joplin, talk
to the 425 employees of Atlas Powder. Go to any of the 244
foreign-owned companies that employ 60,000 workers right here in
Missour.
If Governor Clinton's tax hike had been in effect these past
few years, few if any of those companies would have located in
the United States -- few if any of those jobs would have been
created for Missourians.
And it's not just Missouri. Whether it's the Nissan plant
in XX Tennessee -- whether it's the XX plant in xx, XX --
Governor Clinton's tax increase would be felt in every region of
every state of this country.
Governor Clinton forgets something about international
relations. If he raises this tax, our foreign competitors are
going to say: "What's good for the goose is good for the gander."
9
His tax is like a gilded invitation sent to foreign governments
where U.S. companies also do business. And the invititation
reads: "Please retaliate."
The result would be not just a reduction in investment here,
but a contraction worldwide. There was another occasion when
that happened. It was in 1930. Right before the great
depression.
No other major industrial nation has the kind of tax
Governor Clinton proposes -- not Germany, not Japan. But I can
tell you one nation that does tax foreign investment as he would
like: India.
Well, here's a promise I am proud to make: As long as I am
president, India will not be a model for how to conduct economic
policy in the United States of America.
So let's review the facts about Governor Clinton's tax: It
won't raise revenue. It won't create a single job. It will
discourage investment. And it threatens to start a trade war at
the very moment when markets the world over are opening up to
American products.
We should ask why, given all this, Governor Clinton would
ever propose such a tax in the first place. I can tell you why.
Today change is accelerating, and change breeds uneasiness,
skepticism, even fear. And by disparaging foreign investment,
Governor Clinton hopes to exploit the darker fears of this
uncertain age -- fear of the future, fear of the unknown, fear of
foreigners.
10
Well, let me tell Governor Clinton something: You can play
politics with, but those are American jobs you're playing
politics with. Those are American workers you're putting at
risk.
The American people won't buy it. We're bigger than that.
The proudest people on earth have never stooped to fearmongers
before, and we're not going to start now.
In talking about America's future in the global economy, I
mentioned my own experience, because I want you to understand why
I believe what I do about America's ability to compete. Governor
Clinton takes a different view, and it is borne of his life
experience -- a life spent in government.
You see the difference on issue after issue. I understand
that you boost the economy by cutting taxes. I understand that
you cut the deficit by cutting spending. I understand that you
open markets by tearing down barriers -- by sitting down at the
table and hammering out a tough and fair agreement.
So the American people have a clear choice this year. It's
a choice between the patrons of the past and the architects of
the future. I believe we can shape what lies ahead -- not by
turning away from challenges but by doing what you here at PSE
have done. You didn't shrink from challenge, you embraced it.
You didn't shrink from competition, you met it head on. You
didn't retreat from foreign markets, you conquered them.
I have faith in America's future -- because I have faith in
the American people. It's the same faith that brought me out to
11
Texas more than 40 years ago -- the same faith that brought me
into public life -- the same faith that has led me to fight for
open markets -- because I know that no challenge is too great for
the American heart.
Thank you and God bless you.
# #
action. K,
CC:DFB, PWT JOF
Document No. 346876ss
WHITE HOUSE STAFFING MEMORANDUM
DATE:
08/25/92
DUE BY: 10:00 a.m. 08/26
SUBJECT: PRESIDENTIAL REMARKS: PUBLIC SAFETY EQUIPMENT, INC., ST. LOUIS, MO-
08/27/92
ACTION FYI
ACTION FYI
VICE PRESIDENT
MOORE
BAKER
MULLINS
SCOWCROFT
PETERSMEYER
DARMAN
PORTER
BRADY
PROVOST
BROMLEY
ROSS
CALIO
SMITH
DEMAREST
TUTWILER
FITZWATER
ZOELLICK
GRAY
KAUFMAN
HOLIDAY
MCGROARTY
HORNER
BOSKIN
MCBRIDE
/
REMARKS:
Please provide any comments directly to Dan McGroarty, Rm. 122,
X 2930, no later than 10:00 a.m. on Wednesday, 08/26, with a copy
to this office. Thanks.
RESPONSE:
Camments
PHILLIP D. BRADY
Assistant to the President
P.3
and Staff Secretary
KC fung
Ext. 2702
(Ferguson/Walters)
August 25, 1992
6:40 p.m.
2 AUG 25 P6: 43
STLOUIS
PRESIDENTIAL REMARKS: PUBLIC SAFETY EQUIPMENT, INC.
ST. LOUIS, MISSOURI
AUGUST 27, 1992
9:00 A.M. (??)
Thank you and good morning.
(Acknowledgments, humor)
Together we have seen a world transformed these past three
and a half years -- a world made new by American strength and
resolve. But now that the Cold War is over, the defining
challenge of the '90s is to win the economic competition of the
new global economy -- to win the peace.
Our goal is simple and profound: We must be a military
superpower, an economic superpower and an export superpower.
In this election, you'll hear two versions of how to do
this. My opponents' answer is to look inward, and protect what
we already have from the challenges of this new world. My
approach is to look forward -- to open new markets, prepare our
people to compete, to restore our social fabric -- to save and
invest, so that we can win.
Twenty five years ago, where you're standing was a patch of
bleak, undeveloped real estate. Now look around -- because of
your dreams and hard-work, that patch of ground is a bustling
factory, creating light bars and sirens that help save lives and
keep the peace from Manila to Santiago.
2
There was a time when companies like PSE could be satisfied
with a national market -- sell your goods in the fifty states and
leave it at that.
But you here at PSE know that's no longer good enough. So
five years ago, you took on the world. I'm told that now 35
percent of what you build right here is sold outside our borders,
in 66 different countries. That bold, forward-looking strategy
has helped you weather the uncertainties of the past few years.
PSE's story is a parable for our entire country's economic
future -- never settling for less, always pushing ahead,
embracing the challenges of foreign competition and reshaping
them as opportunities.
Let me offer a personal note -- tell you how I learned about
competing in the world.
I spent a good part of my life out in West Texas, in the oil
business. I painted rigs for a while, even lived out of a
suitcase as a traveling salesman. And all around me in those
days -- the fifties and early sixties -- I saw towns and
businesses bloom from those dusty plains like desert flowers.
Why? The reason was simple: The world wanted what Texas
had to offer -- cotton and cattle and crude.
We understood that the more goods we sold outside our
borders, the more jobs we could create within them.
Later on, when I started my own business, I learned again:
we had to take a global view to compete. I shopped for investors
on the west coast, on the east coast, but I couldn't stop there.
3
I traveled the world -- to Europe and the Far East. Every dollar
we could bring into this country was a dollar that went to expand
our company, create jobs in our community.
I've seen it over and over again: as U.N. ambassador, envoy
to China, and now as president. You learn how important America
is to the world, but you also learn how important the world is to
America --- not just for national security, not just for military
preparedness, but for creating jobs, right here at home.
figures US
We've held steady to this vision for three years now, and
more than
with great success. As we knock down trade barriers, American
60
companies are rushing to meet the demand. Exports are up XXX in ] Percent
the last five years; America is once again the world's leading source:
Economic
exporter.
Indicators
What does that mean right here? I'll bring it closer to July
92
home. In Missouri, exports are up 37 39 percent over the last three
two
3.4 billion
years -- $4.5 billion worth of goods shipped to 166 countries on
every continent. Source Census Bureau / Department of Commerce
FT-900 Supplement
Impressive numbers, but when you get behind the abstractions
of export figures and trade statistics, you find the real benefit
of the new world economy -- in a word, it's jobs. Here in
more them 65,000
Missouri, 100,000 jobs are supported by foreign trade. Across
the country, more than 7 million Americans are employed for the
same reason.
That's the way the world works these days. It's a world
where products can be shipped at the speed of sound and
investment money can cross borders at the speed of light.
4
Everyone recognizes that the world is moving at a faster
pace than ever, but I see something more: it's moving our way.
Right now we're building on the export success of the last three
years. Two weeks ago we entered a new era of open trade. Along
with Mexico and Canada, we initialed the North American Free
Trade Agreement, with the goal of creating one of the largest
free-trade areas in the world -- an integrated economy worth more
than $6 trillion dollars.
Here in Missouri, you already export $2 billion worth of
goods to Mexico and Canada. That's a lot of paychecks, but our
new agreement will make that success look like kid's stuff.
NAFTA is a solid agreement -- when you've been in as many
tough negotiations as I have, you learn to tell the difference.
It will protect the environment, and more important, it will
protect American workers. And more: it will create new jobs for
this generation and the next -- especially the kind of high-
tech, high-wage jobs we'll be proud to pass on to our children.
We're going to take this case to the liberal Democrats on
Capitol Hill, because they need to hear it. A free-trade
agreement isn't a way of dividing up the economic pie, where one
side's loss is another side's gain; it's a way of making the pie
bigger for everyone who participates.
The liberals don't seem to get it. Right now, in fact,
before our initials are even dry on the agreement, the liberals
in Congress -- led by somebody who might be familiar to you,
5
Congressman Dick Gephardt -- are calling for us to slap a tarriff
on any new trade that comes from NAFTA.
Think about that for a minute -- ((which is a minute longer
than they've thought about it)). After years of tough
negotiations with our two closest trading partners, we've agreed
to end tariffs. The congressional Democrats say: Okay, fine.
But first you have to put on a new tariff.
In other words, the only way they'll agree to reduce tariffs
is if they can raise tariffs.
That's like telling us they want us to hit a homerun, but
please don't hit it out of the park because we don't want to lose
the ball.
This "transaction tax," as they call it, will increase the
cost of goods you want to buy, and discourage the creation of new
jobs for you and your neighbors. It turns the agreement on its
head -- defeats the whole purpose.
Now, I suppose I could ask my opponent to help me out with
his liberal Democrat colleagues on Capitol Hill. Governor
Clinton says he's for free trade "in principle."
But "in practice" may be a different story. Actually, it's
not clear where the governor stands. Last year, Mr. Clinton
called a free-trade pact with Mexico "imperative." Then this
April, the Washinton Post reported that the protectionists were
"breathing easier" because he endorsed their trade position.
Then in July, he said he was "applauding Majority Leader
Gephardt's efforts."
6
This week, maybe the governor delivered his final word on
the subject. He said he was studying our agreement. Then he
said: "When I have a definitive opinion, I'll say so."
The way Governor Clinton wiggles on free trade, I'm not
surprised he compares himself to Elvis.
No matter how much Governor Clinton would like to fudge the
issue, the difference couldn't be clearer -- and the difference
is based on two very different views of America's future. My
opponents see trade barriers falling and they say: Hold
everything. They see new markets for American goods and they
say: Wait a minute. We can't compete. The American worker can't
cut it. So let's pull down the blinds, lock the doors and hope
the world goes away.
Well, let me tell them something you already know. The
American worker doesn't have to hide from anybody. We have the
most productive workforce in the world. Americans can outwork,
out-think, out-compete anybody, anywhere, anytime.
That's something everyone in the world seems to understand -
- everyone but the protectionist Democrats. Over the last
decade, we've seen a flood of foreign investment in the United
States, with businesses from all over the world setting up shop
from Portland, Oregon to Portland, Maine. These investors are
following a simple logic: if you want the best science and
universities in the world, if you want the best workers in the
world, you have to come to the U.S.A.
7
Now, this investment makes some people uneasy. I understand
that -- particularly when the other side tries to stir up fear
and resentment against foreign capital. I was in Utah not long
ago, and a very articulate woman confronted me on the issue. I
told her we probably couldn't see eye to eye on it, but I tried
to tell her why I felt so strongly against the isolationism that
would keep foreign investment out of America.
There was an irony in her timing. I had just returned from
meeting with the heads of the industrialized countries in Munich,
and while I was there I was pleased to team up with Governor
Carroll of South Carolina and the head of BMW to announce a new
BMW plant in South Carolina. That means 10,000 jobs to the
people of that state.
Now, I don't think the 10,000 South Carolinians who get
those jobs are going to argue against foreign investment. One
out of every ten manufacturing workers in the United States works
for a company supported by foreign investment. That's the bottom
line on foreign investment in the U.S.: jobs -- jobs for
Americans, and growth for the American economy.
That's the way the world works in a global economy. Again,
Governor Clinton just doesn't seem to understand. But he's not
wiggling on the issue of foreign investment -- not at all. He's
surveyed the issue and come out foresquare for -- you guessed it
-- a tax increase.
8
He's proposed to increase taxes on foreign investment in the
United States, each one of those companies that employ a total of
4 and one-half million Americans.
Governor Clinton says his new tax will raise $45 billion.
He might want to talk to his own Democrats on Capitol Hill. The
Joint Committee on Taxation says that estimate is about 45 times
too high.
Governor Clinton says his tax increase will "crack down" on
foreign companies, but all it will really do is drive them out.
And if they go, they'll take those jobs with them.
Travel around this state. Go to New Madrid (MA-drid), talk
to the 1200 employees at Noranda Aluminum -- or to Joplin, talk
to the 425 employees of Atlas Powder. Go to any of the 244
foreign-owned companies that employ 60,000 workers right here in
Missour.
If Governor Clinton's tax hike had been in effect these past
few years, few if any of those companies would have located in
the United States -- few if any of those jobs would have been
created for Missourians.
And it's not just Missouri. Whether it's the Nissan plant
in XX Tennessee -- whether it's the XX plant in xx, XX --
Governor Clinton's tax increase would be felt in every region of
every state of this country.
Governor Clinton forgets something about international
relations. If he raises this tax, our foreign competitors are
going to say: "What's good for the goose is good for the gander."
9
His tax is like a gilded invitation sent to foreign governments
where U.S. companies also do business. And the invititation
reads: "Please retaliate."
The result would be not just a reduction in investment here,
but a contraction worldwide. There was another occasion when
that happened. It was in 1930. Right before the great
depression.
No other major industrial nation has the kind of tax
Governor Clinton proposes -- not Germany, not Japan. But I can
tell you one nation that does tax foreign investment as he would
like: India.
Well, here's a promise I am proud to make: As long as I am
president, India will not be a model for how to conduct economic
policy in the United States of America.
So let's review the facts about Governor Clinton's tax: It
won't raise revenue. It won't create a single job. It will
discourage investment. And it threatens to start a trade war at
the very moment when markets the world over are opening up to
American products.
We should ask why, given all this, Governor Clinton would
ever propose such a tax in the first place. I can tell you why.
Today change is accelerating, and change breeds uneasiness,
skepticism, even fear. And by disparaging foreign investment,
Governor Clinton hopes to exploit the darker fears of this
uncertain age -- fear of the future, fear of the unknown, fear of
foreigners.
10
Well, let me tell Governor Clinton something: You can play
politics with, but those are American jobs you're playing
politics with. Those are American workers you're putting at
risk.
The American people won't buy it. We're bigger than that.
The proudest people on earth have never stooped to fearmongers
before, and we're not going to start now.
In talking about America's future in the global economy, I
mentioned my own experience, because I want you to understand why
I believe what I do about America's ability to compete. Governor
Clinton takes a different view, and it is borne of his life
experience -- a life spent in government.
You see the difference on issue after issue. I understand
that you boost the economy by cutting taxes. I understand that
you cut the deficit by cutting spending. I understand that you
open markets by tearing down barriers -- by sitting down at the
table and hammering out a tough and fair agreement.
So the American people have a clear choice this year. It's
a choice between the patrons of the past and the architects of
the future. I believe we can shape what lies ahead -- not by
turning away from challenges but by doing what you here at PSE
have done. You didn't shrink from challenge, you embraced it.
You didn't shrink from competition, you met it head on. You
didn't retreat from foreign markets, you conquered them.
I have faith in America's future -- because I have faith in
the American people. It's the same faith that brought me out to
11
Texas more than 40 years ago -- the same faith that brought me
into public life -- the same faith that has led me to fight for
open markets -- because I know that no challenge is too great for
the American heart.
Thank you and God bless you.
# #
THE WHITE HOUSE
WASHINGTON
August 26, P19923
92 AUG 26
MEMORANDUM FOR DAN McGROARTY
FROM:
ROGER B. PORTER
RBP
SUBJECT:
Presidential Remarks: Public Safety Equipment
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
Document No. 346876ss
WHITE HOUSE STAFFING MEMORANDUM
DATE:
08/25/92
ACTION/CONCURRENCE/COMMENT DUE BY: 10:00 a.m. 08/26
SUBJECT: PRESIDENTIAL REMARKS: PUBLIC SAFETY EQUIPMENT, INC., ST. LOUIS, MO-
08/27/92
ACTION FYI
ACTION FYI
VICE PRESIDENT
MOORE
BAKER
MULLINS
SCOWCROFT
PETERSMEYER
DARMAN
PORTER
BRADY
PROVOST
BROMLEY
ROSS
CALIO
SMITH
DEMAREST
TUTWILER
FITZWATER
ZOELLICK
GRAY
KAUFMAN
HOLIDAY
MCGROARTY
HORNER
BOSKIN
MCBRIDE
REMARKS:
Please provide any comments directly to Dan McGroarty, Rm. 122,
x 2930, no later than 10:00 a.m. on Wednesday, 08/26, with a copy
to this office. Thanks.
RESPONSE:
PHILLIP D. BRADY
Assistant to the President
and Staff Secretary
Ext. 2702
(Ferguson/Walters)
August 25, 1992
6:40 p.m.
P6: 43
STLOUIS
PRESIDENTIAL REMARKS: PUBLIC SAFETY EQUIPMENT, INC.
ST. LOUIS, MISSOURI
AUGUST 27, 1992
9:00 A.M. (??)
Thank you and good morning.
(Acknowledgments, humor)
Together we have seen a world transformed these past three
and a half years -- a world made new by American strength and
X
resolve. But I now that the Cold War is over, the defining
challenge of the '90s is to win the economic competition of the
new global economy -- to win the peace.
Our goal is simple and profound: We must be a military
WORLD TRADE
superpower, an economic superpower and an export superpower.
X
ADVANCE
In this election, you'll hear two versions of how to do
X
AMERICA'S INTERESTS.
this. My opponents' answer is to look inward, and protect what
we already have from the challenges of this new world. My
TO
approach is to look forward -- to open new markets, Vprepare our
PROMOTE
X
people to compete, to restore our social fabric -- to Vsave INE and
X
MENT
ACAIN
invest, so that we can win).
THE GROUND WE'RE
ON
Twenty five years ago, where you're standing Vwas a patch of
X
bleak, undeveloped real estate. Now look around -- because of
your dreams and hard-work, that patch of ground is a bustling
factory, creating light bars and sirens that help save lives and
.~
keep the peace from Manila to Santiago.
2
There was a time when companies like PSE could be satisfied
with a national market -- sell your goods in the fifty states and
leave it at that.
X
But you here at PSE know that's no longer good enough. So
BEBAN TO TAKE ADVANTABE OF THE OPPORTUNITIES CREATED By OPEN
five years ago, you took on the world. I'm told that now 35
Now
percent of what you build right here is Vsold outside our borders,
in 66 different countries. That bold, forward-looking strategy
has helped you weather the uncertainties of the past few years.
NATION'S
INTERNATIONAL MARKETS.
PSE's story is a parable for our entire country's economic
future -- never settling for less, always pushing ahead,
embracing the challenges of foreign competition and reshaping
them as opportunities.
Let me offer a personal note -- tell you how I learned about
competing in the world.
I spent a good part of my life out in West Texas, in the oil
business. I painted rigs for a while, even lived out of a
suitcase as a traveling salesman. And all around me in those
days -- the fifties and early sixties -- I saw towns and
businesses bloom from those dusty plains like desert flowers.
Why? The reason was simple: The world wanted what Texas
X
had to offer -- cotton and cattle and crude.
We understood that the more goods we sold outside our
borders, the more jobs we could create within them.
Later on, when I started my own business, I learned again:
we had to take a global view to compete. I shopped for investors
on the west coast, on the east coast, but I couldn't stop there.
3
I traveled the world -- to Europe and the Far East. Every dollar
we could bring into this country was a dollar that went to expand
AND
our company, Y create jobs in our community.
I've seen it over and over again: as U.N. ambassador, envoy
to China, and now as president. You learn how important America
is to the world, but you also learn how important the world is to
America -- not just for national security, not just for military
preparedness, but for creating jobs, right here at home.
We've held steady to this vision for three years now, and
with great success. As we knock down trade barriers, American
INCREASED
companies are rushing to meet they demand. Exports are up XXX in
the last five years; America is once again the world's leading
exporter.
What does that mean right here? I'll bring it closer to
home. In Missouri, exports are up 37 percent over the last three
years -- $4.5 billion worth of goods shipped to 166 countries on
every continent.
Impressive numbers, but when you get behind the abstractions
of export figures and trade statistics, you find the real benefit
of the new world economy -- in a word, it's jobs. Here in
Missouri, 100,000 jobs are supported by foreign trade. Across
the country, more than 7 million Americans are employed for the
same reason.
That's the way the world works these days. It's a world
where products can be shipped at the speed of sound and
BE TRANSFERRED
investment money can cross borders at the speed of light.
4
Everyone recognizes that the world is moving at a faster
pace than ever, but I see something more: it's moving our way.
Right now we're building on the export success of the last three
years. Two weeks ago we entered a new era of open trade. Along
with Mexico and Canada, we initialed the North American Free
Trade Agreement, with the goal of creating one of the largest
free-trade areas in the world -- an integrated economy worth more
than $6 trillion dollars.
Here in Missouri, you already export $2 billion worth of
goods to Mexico and Canada. That's a lot of paychecks, but our
new agreement will make that success look like kid's stuff.
NAFTA is a solid agreement -- when you've been in as many
tough negotiations as I have, you learn to tell the difference.
It will protect the environment, and more important, it will
protect American workers, And more: 7/2 create new jobs for
this generation and the next especially the kind of high-
tech, high-wage jobs we'll be proud to pass on to our children.
We're going to take this case to the liberal Democrats on
Capitol Hill, because they need to hear it. A free-trade
agreement isn't a way of dividing up the economic pie, where one
side's loss is another side's gain; it's a way of making the pie
bigger for everyone who participates.
The liberals don't seem to get it. Right now, in fact,
before our initials are even dry on the agreement, the liberals
in Congress -- led by somebody who might be familiar to you,
5
Congressman Dick Gephardt -- are calling for us to slap a tarriff
on any new trade that comes from NAFTA.
Think about that for a minute -- ((which is a minute longer
than they've thought about it)). After years of tough
negotiations with our two closest trading partners, we've agreed
to end tariffs. The congressional Democrats say: Okay, fine.
But first you have to put on a new tariff.
In other words, the only way they'll agree to reduce tariffs
is if they can raise tariffs.
That's like telling us they want us to hit a homerun, but
please don't hit it out of the park because we don't want to lose
the ball.
This "transaction tax," as they call it, will increase the
cost of goods you want to buy, and discourage the creation of new
jobs for you and your neighbors. It turns the agreement on its
head -- defeats the whole purpose.
Now, I suppose I could ask my opponent to help me out with
his liberal Democrat colleagues on Capitol Hill. Governor
Clinton says he's for free trade "in principle."
But "in practice" may be a different story. Actually, it's
not clear where the governor stands. Last year, Mr. Clinton
called a free-trade pact with Mexico "imperative." Then this
April, the Washinton Post reported that the protectionists were
"breathing easier" because he endorsed their trade position.
Then in July, he said he was "applauding Majority Leader
Gephardt's efforts."
6
This week, maybe the governor delivered his final word on
the subject. He said he was studying our agreement. Then he
said: "When I have a definitive opinion, I'll say so."
The way Governor Clinton wiggles on free trade, I'm not
surprised he compares himself to Elvis.
No matter how much Governor Clinton would like to fudge the
issue, the difference couldn't be clearer -- and the difference
is based on two very different views of America's future. My
opponents see trade barriers falling and they say: Hold
everything. They see new markets for American goods and they
say: Wait a minute. We can't compete. The American worker can't
cut it. So let's pull down the blinds, lock the doors and hope
the world goes away.
AMERICANS
Well, let me tell them something you already know. The
American worker doesn't have to hide from anybody. We have the
most productive workforce in the world. Americans can outwork,
out-think, out-compete anybody, anywhere, anytime.
That's something everyone in the world seems to understand -
- everyone but the protectionist Democrats. Over the last
decade, we've seen a flood of foreign investment in the United
States, with businesses from all over the world setting up shop
from Portland, Oregon to Portland, Maine. These investors are
following a simple logic: if you want the best science and
universities in the world, if you want the best workers in the
world, you have to come to the U.S.A.
7
Now, this investment makes some people uneasy. I understand
that -- particularly when the other side tries to stir up fear
and resentment against foreign capital. I was in Utah not long
ago, and a very articulate woman confronted me on the issue. I
told her we probably couldn't see eye to eye on it, but I tried
FEEL
to tell her why I felt so strongly against the isolationism that
would keep foreign investment out of America.
There was an irony in her timing. I had just returned from
meeting with the heads of the industrialized countries in Munich,
and while I was there I was pleased to team up with Governor
CAMPBELL
Carroll Vof South Carolina and the head of BMW to announce a new
WILL CREATE
FOR
BMW plant in South Carolina. That means 10,000 jobs to the
people of that state.
Now, I don't think the 10,000 South Carolinians who get
those jobs are going to argue against foreign investment. One
out of every ten manufacturing workers in the United States works
for a company supported by foreign investment. That the bottom
IS IT CREATES
line on foreign investment in the U.S. IV jobs. jobs for
X
Americans, and growth for the American economy.
That's the way the world works in a global economy. Again,
Governor Clinton just doesn't seem to understand. But he's not
wiggling on the issue of foreign investment -- not at all. He's
surveyed the issue and come out foresquare for -- you guessed it
-- a tax increase.
8
He's proposed to increase taxes on foreign investment in the
United States, each one of those companies that employ a total of
4 and one-half million Americans.
Governor Clinton says his new tax will raise $45 billion.
He might want to talk to his own Democrats on Capitol Hill. The
Joint Committee on Taxation says that estimate is about 45 times
too high.
Governor Clinton says his tax increase will "crack down" on
foreign companies, but all it will really do is drive them out.
And if they go, they'll take those jobs with them.
Travel around this state. Go to New Madrid (MA-drid), talk
to the 1200 employees at Noranda Aluminum -- or to Joplin, talk
?
POWER OR POWDER
to the 425 employees of Atlas Powder. Go to any of the 244
foreign-owned companies that employ 60,000 workers right here in
Missour.
If Governor Clinton's tax hike had been in effect these past
few years, few if any of those companies would have located in
the United States -- few if any of those jobs would have been
created for Missourians.
And it's not just Missouri. Whether it's the Nissan plant
in XX Tennessee -- whether it's the XX plant in xx, XX --
Governor Clinton's tax increase would be felt in every region of
every state of this country.
Governor Clinton forgets something about international
relations. If he raises this tax, our foreign competitors are
going to say: "What's good for the goose is good for the gander."
9
His tax is like a gilded invitation sent to foreign governments
where U.S. companies also do business. And the invititation
reads: "Please retaliate."
The result would be not just a reduction in investment here,
but a contraction worldwide. There was another occasion when
that happened. It was in 1930. Right before the great
depression.
No other major industrial nation has the kind of tax
Governor Clinton proposes -- not Germany, not Japan. But I can
tell you one nation that does tax foreign investment as he would
like: India.
Well, here's a promise I am proud to make: As long as I am
president, India will not be a model for how to conduct economic
policy in the United States of America.
So let's review the facts about Governor Clinton's tax: It
won't raise revenue. It won't create a single job. It will
discourage investment. And it threatens to start a trade war at
the very moment when markets the world over are opening up to
American products.
We should ask why, given all this, Governor Clinton would
ever propose such a tax in the first place. I can tell you why.
Today change is accelerating, and change breeds uneasiness,
skepticism, even fear. And by disparaging foreign investment,
Governor Clinton hopes to exploit the darker fears of this
uncertain age -- fear of the future, fear of the unknown, fear of
COMPETITION
foreigners.
10
STOP
Well, let me tell Governor Clinton something: You can play/NG ING
politics with, I but I those are American jobs you're playing
politics with, Those are I American workers you're putting at
AND
risk.
The American people won't buy it. We're bigger than that.
The proudest people on earth have never stooped to fearmongers
before, and we're not going to start now.
In talking about America's future in the global economy, I
mentioned my own experience, because I want you to understand why
x
IN
AND THE IMPORTANCE of MEETING
I believe what I do about America's ability to competel. Governor
Clinton takes a different view, and it is borne of his life
DRAWING A
PAYCHECKO
experience -- a life spent in governmentV
You see the difference on issue after issue. I understand
that you boost the economy by cutting taxes. I understand that
you cut the deficit by cutting spending. I understand that you
open markets by tearing down barriers -- by sitting down at the
table and hammering out a tough and fair agreement.
So the American people have a clear choice this year. It's
a choice between the patrons of the past and the architects of
HEAD-ON THE CHALLENGES WE FACE AS A NATION
the future. I believe we can shape what lies ahead -- not by
turning away from challenges but by doing what you here at PSE
have done. You didn't shrink from challenge, you embraced it.
You didn't shrink from competition, you met it head on. You
didn't retreat from foreign markets, you conquered them.
I have faith in America's future -- because I have faith in
the American people. It's the same faith that brought me out to
11
Texas more than 40 years ago -- the same faith that brought me
into public life -- the same faith that has led me to fight for
open markets -- because I know that no challenge is too great for
the American heart.
Thank you and God bless you.
#
#
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Also: J.D. Foster
Rm.320
Document No. 346876ss
WHITE 97 HOUSE STAFFING MEMORANDUM
AUG 26 26 P12: 58
DATE:
08/25/92
ACTION/CONCURRENCE/COMMENT DUE BY: 10:00 a.m. 08/26
SUBJECT: PRESIDENTIAL REMARKS: PUBLIC SAFETY EQUIPMENT, INC., ST. LOUIS, MO-
08/27/92
ACTION FYI
ACTION FYI
VICE PRESIDENT
MOORE
BAKER
MULLINS
SCOWCROFT
PETERSMEYER
DARMAN
PORTER
BRADY
PROVOST
BROMLEY
ROSS
CALIO
SMITH
DEMAREST
TUTWILER
FITZWATER
ZOELLICK
GRAY
KAUFMAN
HOLIDAY
MCGROARTY
HORNER
BOSKIN
MCBRIDE
REMARKS:
Please provide any comments directly to Dan McGroarty, Rm. 122,
X 2930, no later than 10:00 a.m. on Wednesday, 08/26, with a copy
to this office. Thanks.
RESPONSE:
See comments. TO Paul Korfonta
PHILLIP D. BRADY
Pk 08/26
12 P95
Assistant to the President
and Staff Secretary
Ext. 2702
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OPD:# 2
(Ferguson/Walters)
August 25, 1992
6:40 p.m.
25 P6: 43
STLOUIS
PRESIDENTIAL REMARKS: PUBLIC SAFETY EQUIPMENT, INC.
ST. LOUIS, MISSOURI
AUGUST 27, 1992
9:00 A.M. (??)
Thank you and good morning.
(Acknowledgments, humor)
Together we have seen a world transformed these past three
and a half years -- a world made new by American strength and
resolve. But now that the Cold War is over, the defining
challenge of the '90s is to win the economic competition of the
new global economy -- to win the peace.
Our goal is simple and profound: We must be a military
superpower. an economic superpower and an export superpower.
In this election, you'll hear two versions of how to do
this. My opponents' answer is to look inward, and protect what
we already have from the challenges of this new world. My
approach is to look forward -- to open new markets, prepare our
people to compete, to restore our social fabric -- to save and
invest, so that we can win.
Twenty five years ago, where you're standing was a patch of
bleak, undeveloped real estate. Now look around -- because of
your dreams and hard-work, that patch of ground is a bustling
factory, creating light bars and sirens that help save lives and
keep the peace from Manila to Santiago.
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2
There was a time when companies like PSE could be satisfied
with a national market -- sell your goods in the fifty states and
leave it at that.
But you here at PSE know that's no longer good enough. So
five years ago, you took on the world. I'm told that now 35
percent of what you build right here is sold outside our borders,
in 66 different countries. That bold, forward-looking strategy
has helped you weather the uncertainties of the past few years.
PSE's story is a parable for our entire country's economic
future -- never settling for less, always pushing ahead,
embracing the challenges of foreign competition and reshaping
them as opportunities.
Let me offer a personal note -- tell you how I learned about
competing in the world.
I spent a good part of my life out in West Texas, in the oil
business. I painted rigs for a while, even lived out of a
suitcase as a traveling salesman. And all around me in those
days -- the fifties and early sixties -- I saw towns and
businesses bloom from those dusty plains like desert flowers.
Why? The reason was simple: The world wanted what Texas
had to offer -- cotton and cattle and crude.
We understood that the more goods we sold outside our
borders, the more jobs we could create within them.
Later on, when I started my own business, I learned again:
we had to take a global view to compete. I shopped for investors
on the west coast, on the east coast, but I couldn't stop there.
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3
I traveled the world -- to Europe and the Far East. Every dollar
exports based
we could bring into this country was a dollar that went to expand
economy dollar
our company, create jobs in our community.
I've seen it over and over again: as U.N. ambassador, envoy
to China, and now as president. You learn how important America
(USTR)
is to the world, but you also learn how important the world is to
America -- not just for national security, not just for military
to mevch.
preparedness, but for creating jobs, right here at home.
disagree
45TR Doce
04 6790 goods goods ses
We've held steady to this vision for three years now, and
numbers
on
with great success. As we knock down trade barriers, American
86
companies are rushing to meet the demand. Exports are up
in
'86-91
the last five years; America is once again the world's leading
based on
you
this
exporter.
What does that mean right here? I'll bring it closer to
(DOC)
home. In Missouri, exports are up 37 percent over the last three
3.8
151
accurate may dollars or intla infletad not tien be
include
years -- SMA billion worth of goods shipped to 166 countries on
every continent.
Impressive numbers, but when you get behind the abstractions
of export figures and trade statistics, you find the real benefit
of the new world economy -- in a word, it's jobs. Here in
150,000
exports.
(USTR)
Missouri, 600,000 jobs are supported by foreign trade. Across
the country, more than 7 million Americans are employed for the
same reason.
That's the way the world works these days. It's a world
where products can be shipped at the speed of sound and
investment money can cross borders at the speed of light.
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4
Everyone recognizes that the world is moving at a faster
pace than ever, but I see something more: it's moving our way.
Right now we're building on the export success of the last three
years. Two weeks ago we entered concluded a new era of open trade. Along
with Mexico and Canada, we initialed the North American Free
Trade Agreement, with the goal of creating one of the largest (USTR)
market
free-trade areas in the world -- an integrated economy (worth more
than $6 trillion dollars.
Here in Missouri, you already export $2 billion worth of (USTR)
and those exports support 78,000 jobs.
goods to Mexico and Canada. That's a lot of paychecks, but our
WHETH
new agreement will make that success look like kid's stuff.
NAFTA is a solid agreement -- when you've been in as many
tough negotiations as I have, you learn to tell the difference.
It will protect the environment, and more important,
on
(USTR)
protect American workers' And more: it will create new jobs for
this generation and the next -- especially the kind of high-
tech, high-wage jobs we'll be proud to pass on to our children.
should add
We're going to take this case to the liberal Democrats on
export-
related
Capitol Hill, because they need to hear it. A free-trade
jobs
are
agreement isn't a way of dividing up the economic pie, where one
higher
side's loss is another side's gain; it's a way of making the pie
paying
jobs
bigger for everyone who participates.
The liberals don't seem to get it. Right now, in fact,
before our initials are even dry on the agreement, the liberals
in Congress -- led by somebody who might be familiar to you,
Hasa of initialed been
SENT BY:Xerox Telecopier 7020 ; 8-26-92 ; 6:56
;
The White House-
OPD;# 6
technically it
a
tariff
5
(Your call)
may But ist o.k. ONSTR)
tax
Congressman Dick Gephardt -- are calling for us to slap a tarriff
on any new trade that comes from NAFTA.
Think about that for a minute -- ((which is a minute longer
than they've thought about it)). After years of tough
negotiations with our two closest trading partners, we've agreed
to end tariffs. The congressional Democrats say: Okay, fine.
tax.
But first you have to put on a new tariff,
In other words, the only way they'll agree to reduce tariffs
taxes.
is if they can raise
That's like telling us they want us to hit a homerun, but
please don't hit it out of the park because we don't want to lose
the ball.
This "transaction tax," as they call it, will increase the
cost of goods you want to buy, and discourage the creation of new
jobs for you and your neighbors. It turns the agreement on its
head -- defeats the whole purpose.
Now, I suppose I could ask my opponent to help me out with
his liberal Democrat colleagues on Capitol Hill. Governor
Clinton says he's for free trade "in principle."
But "in practice" may be a different story. Actually, it's
not clear where the governor stands. Last year, Mr. Clinton
called a free-trade pact with Mexico "imperative." Then this
April, the Washinton Post reported that the protectionists were
"breathing easier" because he endorsed their trade position.
Then in July, he said he was "applauding Majority Leader
Gephardt's efforts."
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6
This week, maybe the governor delivered his final word on
the subject. He said he was studying our agreement. Then he
said: "When I have a definitive opinion, I'll say so."
The way Governor Clinton wiggles on free trade, I'm not
surprised he compares himself to Elvis.
No matter how much Governor Clinton would like to fudge the
issue, the difference couldn't be clearer -- and the difference
is based on two very different views of America's future. My
opponents see trade barriers falling and they say: Hold
everything. They see new markets for American goods and they
say: Wait a minute. We can't compete. The American worker can't
cut it. so let's pull down the blinds, lock the doors and hope
the world goes away.
Well, let me tell them something you already know. The
American worker doesn't have to hide from anybody. We have the
most productive workforce in the world. Americans can outwork,
out-think, out-compete anybody, anywhere. anytime.
That's something everyone in the world seems to understand -
- everyone but the protectionist Democrats. Over the last
decade, we've seen a flood of foreign investment in the United
States, with businesses from all over the world setting up shop
from Portland, Oregon to Portland, Maine. These investors are
following a simple logic: if you want the best science and
universities in the world, if you want the best workers in the
world, you have to come to the U.S.A.
SENT BY:Xerox Telecopier 7020 ; 8-26-92 ; 6:57
;
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7
Now, this investment makes some people uneasy. I understand
that -- particularly when the other side tries to stir up fear
and resentment against foreign capital. I was in Utah not long
ago, and a very articulate woman confronted me on the issue. I
told her we probably couldn't see eye to eye on it, but I tried
to tell her why I felt so strongly against the isolationism that
would keep foreign investment out of America.
There was an irony in her timing. I had just returned from
meeting with the heads of the industrialized countries in Munich,
and while I was there I was pleased to team up with Governor
Carroll of South Carolina and the head of BMW to announce a new
BMW plant in South Carolina. That means 10,000 jobs to the
people of that state.
Now, I don't think the 10,000 South Carolinians who get
those jobs are going to argue against foreign investment. One
out of every ten manufacturing workers in the United States works
for a company supported by foreign investment. That's the bottom
line on foreign investment in the U.S.: jobs -- jobs for
Americans, and growth for the American economy.
That's the way the world works in a global economy. Again,
Governor Clinton just doesn't seem to understand. But he's not
wiggling on the issue of foreign investment -- not at all. He's
surveyed the issue and come out foresquare for -- you guessed it
- a tax increase.
SENT BY:Xerox Telecopier 7020 ; 8-26-92 ; 6:57 ;
The White House-
estimated received & similar proposal, which Theep review OPD;# 9
that G.C. sestimate was
at least ten times too high.
8
He's proposed to increase taxes on foreign investment in the
kymatring each of them pay for more than domestically anned compani
United States, each one of those companies that employ a total of
Could be open to
4 and one-half million Americans.
criticism here
Governor Clinton says his new tax will raise $45 billion.
He might want to talk to his own Democrats on Capitol Hill. The
may be
at least
accurate
Joint Committee on Taxation says that estimate is about 45 times
(Treas.)
too high.
They are estimating Rosten kouski proposal
not - Clinton proposal.
Governor Clinton says his tax puposel increase will "crack down" on
foreign companies, but all it will really do is drive them out.
And if they go, they'll take those jobs with them.
Travel around this state. Go to New Madrid (MA-drid), talk
to the 1200 employees at Noranda Aluminum -- or to Joplin, talk
to the 425 employees of Atlas Powder. Go to any of the 244
foreign-owned companies that employ 60,000 workers right here in
Missour.
If Governor Clinton's tax hike had been in effect these past
few years, few if any of those companies would have located in
the United States -- few if any of those jobs would have been
created for Missourians.
(Tronny)
And it's not just Missouri. Whether it's the Nissan plant
in Smyrna XX Tennessee -- whether it's the XX plant in XX, XX --
Honda
Merriville, Ohio
Governor Clinton's tax increase would be felt in every region. of
every state of this country.
Governor Clinton forgets something about international
relations. If he raises this tax, our foreign competitors are
going to say: "What's good for the goose is good for the gander."
SENT BY:Xerox Telecopier 7020 ; 8-26-92 ; 6:58
;
The White House-
OPD;#10
9
His tax is like a gilded invitation sent to foreign governments
where U.S. companies also do business. And the invititation
reads: "Please retaliate."
The result would be not just a reduction in investment here,
but a contraction worldwide. There was another occasion when
that happened. It was in 1930. Right before the great
depression.
No other major industrial nation has the kind of tax
Governor Clinton proposes -- not Germany, not Japan. But I can
(USTR)
(Trasury)
tell you one nation that does tax foreign investment as he would,
India's current law may not tax Eureign investment be
like: India.
Well, here's a promise I am proud to make: As long as I am on this)
They have been progressive as of late. (wit bench
"w/you
president, India will not be at model for how to conduct economic
policy in the United States of America.
make
So let's review the facts about Governor Clinton's tax: It
in fact it
wa and gether euse
won t raise revenue. It won't create a single job. It will
discourage investment. And it threatens to start a trade war at
U.S. re on lite set examp
Germen x
the very moment when markets the world over are opening up to
American products.
We should ask why, given all this, Governor Clinton would
ever propose such a tax in the first place. I can tell you why.
in
Today change is accelerating, and change breeds uneasiness,
skepticism, even fear. And by disparaging foreign investment,
Governor Clinton hopes to exploit the darker fears of this
uncertain age -- fear of the future, fear of the unknown, fear of
foreigners.
SENT BY:Xerox Telecopier 7020 ; 8-26-92 ; 6:58 ;
The White House-
OPD;#11
10
Well, let me tell Governor Clinton something: You can play
politics with, but those are American jobs you're playing
politics with. Those are American workers you're putting at
risk.
The American people won't buy it. We're bigger than that.
The proudest people on earth have never stooped to fearmongers
before, and we're not going to start now.
In talking about America's future in the global economy, I
mentioned my own experience, because I want you to understand why
I believe what I do about America's ability to compete. Governor
Clinton takes a different view, and it is borne of his life
experience -- a life spent in government.
You see the difference on issue after issue. I understand
that you boost the economy by cutting taxes. I understand that
you cut the deficit by cutting spending. I understand that you
open markets by tearing down barriers -- by sitting down at the
table and hammering out a tough and fair agreement.
So the American people have a clear choice this year. It's
a choice between the patrons of the past and the architects of
the future. I believe we can shape what lies ahead -- not by
turning away from challenges but by doing what you here at PSE
have done. You didn't shrink from challenge, you embraced it.
You didn't shrink from competition, you met it head on. You
didn't retreat from foreign markets, you conquered them.
I have faith in America's future -- because I have faith in
the American people. It's the same faith that brought me out to
SENT BY:Xerox Telecopier 7020 ; 8-26-92 ; 6:59 ;
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OPD:#12
11
Texas more than 40 years ago -- the same faith that brought me
into public life -- the same faith that has led me to fight for
open markets -- because I know that no challenge is too great for
the American heart.
Thank you and God bless you.
#
fair shone
&
They should pay every dollar they are,
and we've strengthened the IRS they pay it.
3
GC way beyond what is sensible
Missouki Speech
commerbs.
Andy:
RON KAUFMAN WOULD LIKE TO SEE US MENTION AN ARKANSAS PLANT
THAT'S FOREIGN OWNED. IF WE FIND A GOOD ONE, THAT'S A GREAT
IDEA
HENSON MOORE WANTS US TO DO A RAPID-FIRE RUN THRU OF FOUR OR
FIVE CLINTON TAXES IN THIS AND EVERY SPEECH
Must
please return to
Speech life.