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Originally Processed With FOIA(s): FOIA Number: S S FOIA MARKER This is not a textual record. This is used as an administrative marker by the George Bush Presidential Library Staff. Record Group/Collection: George H.W. Bush Presidential Records Collection/Office of Origin: Speechwriting, White House Office of Series: Speech File Draft Files Subseries: Chron File, 1989-1993 OA/ID Number: 13642 Folder ID Number: 13642-005 Folder Title: Georgia Homebuilders 9/17/92 [OA 5813] Stack: Row: Section: Shelf: Position: G 26 18 5 1 GEORGIA HOMEBUILDERS SITE \ JONESBORO, GEORGIA SEPTEMBER 17, 1992 \ 3:10 P.M. THANK YOU FOR THOSE KIND WORDS, PAUL [COVERDELL] -- AND THANKS, ALL OF YOU, FOR THIS WARM WELCOME -- ESPECIALLY TO THE RESIDENTS OF AVERY AT WALNUT CREEK FOR ALLOWING THIS IMPROMPTU BLOCK PARTY. AND THEN I'D BE REMISS IF I DIDN'T ACKNOWLEDGE AVERY AT WALNUT CREEK'S DEVELOPER, GERRY KOPP. LET ME ALSO WELCOME THE MEMBERS OF THE ATLANTA HOMEBUILDERS ASSOCIATION AND THEIR PRESIDENT-ELECT, CHARLES BUSSEY [BYEW-SEE]. (IN AUDIENCE) - 2 - I ALSO UNDERSTAND NEWT GINGRICH WILL BE JOINING US SHORTLY. AND I WANT To BRING TO YOUR ATTENTION TWO CANDIDATES WITH US TODAY -- PAUL COVERDELL AND MAC COLLINS. I NEED MORE MEN LIKE THESE TWO IN WASHINGTON. WE NEED TO CLEAN HOUSE ... AND I'M HAPPY TO SEE MAC CAME PREPARED TO DO JUST THAT. - 3 - WHEN YOU'RE DONE HERE, I'D LIKE TO PACK YOU UP AND TAKE YOU BACK TO WASHINGTON. THERE'S A CERTAIN HOUSE ON THE HILL BACK THERE THAT'S IN NEED OF A LITTLE RENOVATION. // You KNOW BoB VILA'S OLD SHOW: THIS OLD HOUSE? WELL, BACK IN WASHINGTON, THERE'S AN OLD HOUSE ON CAPITOL HILL THAT HASN'T BEEN CLEANED OUT FOR 38 YEARS. // I'M PLEASED TODAY TO MEET WITH YOU, BECAUSE WHAT YOU'RE BUILDING HERE AT 1270 LARKWOOD DRIVE ISN'T JUST A HOUSE -- IT'S A LITTLE PIECE OF THE AMERICAN DREAM FOR THE FAMILY WHO WILL CALL IT HOME. // - 4 - Now THAT THE COLD WAR IS OVER, THE DEFINING CHALLENGE OF THE 90's IS TO WIN THE PEACE -- TO WIN THE COMPETITION OF THE NEW GLOBAL ECONOMY. // - 5 - I'LL GIVE IT TO YOU STRAIGHT: IN THE 21ST CENTURY, AMERICA MUST BE NOT ONLY A MILITARY SUPERPOWER, BUT AN ECONOMIC SUPERPOWER -- AN EXPORT SUPERPOWER. IN THIS ELECTION, YOU' LL HEAR TWO VERSIONS OF HOW TO DO THIS: My OPPONENT'S ANSWER IS TO LOOK INWARD -- TO PRETEND WE CAN PROTECT WHAT WE ALREADY HAVE. - 6 - OURS IS TO LOOK FORWARD -- OPEN NEW MARKETS, PREPARE OUR PEOPLE TO COMPETE, STRENGTHEN OUR FAMILIES, TO SAVE AND INVEST -- so THAT, WHEN IT COMES TO THE GLOBAL COMPETITION -- AMERICA WILL WIN. // WE NEED WHAT I OFFER: AN AGENDA FOR AMERICAN RENEWAL -- A STRATEGY THAT REACHES OUT TO THE WORLD IN A WAY THAT MAKES A DIFFERENCE RIGHT HERE IN CLAYTON COUNTY -- IN YOUR NEIGHBORHOODS, IN YOUR LIVES. - 7 - WE MUST BUILD ON THE FUNDAMENTALS OF LOWER TAX RATES, LIMITS ON GOVERNMENT SPENDING, LESS RED TAPE AND REGULATION -- AND MORE TRADE, MORE COMPETITION, TO GENERATE THE GROWTH THAT MEANS MORE OPPORTUNITY ... MORE JOBS. AND I THINK THAT IN THE 90's, GOVERNMENT CAN ADD TO THIS GROWTH PROGRAM BY BUILDING OPPORTUNITY AND HOPE FOR INDIVIDUALS, EMPOWERING FAMILIES AND COMMUNITIES. - 8 - My AGENDA FOR RENEWAL IS A BLUEPRINT FOR LONG-TERM GROWTH. BUT NEAR-TERM -- RIGHT NOW -- WE ALL KNOW WHAT WE'VE GOT TO DO TO JUMPSTART OUR ECONOMY ... TO PUT AMERICA BACK TO WORK. // BACK IN JANUARY, 8 MONTHS AGO, I CHALLENGED CONGRESS TO PASS A NEW INCENTIVE: A $5000 DOLLAR TAX CREDIT FOR ALL FIRST-TIME HOMEBUYERS. I PROPOSED THAT "HOME CREDIT" FOR TWO REASONS: - 9 - FIRST, BECAUSE I KNEW THAT COMING OUT OF TROUBLED TIMES, HOUSING IS TRADITIONALLY THE SECTOR THAT PULLS THIS ECONOMY FORWARD. I ALSO WANTED TO HELP YOUNG FAMILIES, THE ONES STRUGGLING TO SAVE FOR THAT FIRST HOME. BECAUSE THE AMERICAN DREAM, AFTER ALL, REALLY STARTS RIGHT HERE (GESTURE TO HOMESITE) -- WITH A HOME OF YOUR OWN. // - 10 - THIS YEAR ALONE, MY PLAN WOULD HAVE MEANT MORE THAN 120,000 NEW HOUSING STARTS -- AND 220,000 NEW JOBS IN THE ECONOMY, INCLUDING JOBS FOR CARPENTERS AND PLUMBERS AND PLASTERERS. AND FOR THE AVERAGE FIRST-TIME HOMEBUYER IN CLAYTON COUNTY, THAT TAX CREDIT WOULD HAVE BEEN THE EQUIVALENT OF EIGHT MONTH'S WORTH OF MORTGAGE PAYMENTS. RIGHT HERE AT 1270 LARKWOOD, IT'S LIKE GETTING YOUR DOWN PAYMENT BACK -- AND MORE. // - 11 - MY PLAN'S STILL SITTING / STALLED BY A DO-NOTHING LIBERAL LEADERSHIP THAT PUTS POLITICS AHEAD OF HELPING PEOPLE. I KNOW THIS IS AN ELECTION YEAR -- AND THE OPPOSITION FEELS THEY CAN ONLY WIN IF THE ECONOMY IS BAD. So THEY HAVE REFUSED TO ACT. IT IS TIME TO PUT PEOPLE AHEAD OF POLITICS. - 12 - RULE #1 IN THE HOUSING BUSINESS IS: BUILD FROM THE GROUND UP. WELL, GIVEN WHAT YOU'VE SEEN IN CONGRESS THIS YEAR -- I THINK THIS IS ONE TIME YOU OUGHT TO RAISE THE ROOF. // THE HOUSING BUSINESS IS NO DIFFERENT FROM A HUNDRED OTHER SMALL BUSINESSES IN AMERICA. I SEE SMALL BUSINESS AS THE ENGINE OF THE AMERICAN ECONOMY -- GENERATING JOBS AND OPPORTUNITY. My OPPONENT SEES SMALL BUSINESS AS THE GOOSE THAT LAID THE GOLDEN EGG. - 13 - FROM $150 BILLION IN NEW TAXES / TO A PAYROLL TAX FOR HEALTH CARE / TO A TRAINING TAX -- Gov. CLINTON WANTS TO SQUEEZE SMALL BUSINESS TO BANKROLL BIG GOVERNMENT. // WELL I SAY: KEEP YOUR HANDS OFF THE HOUSING INDUSTRY. AMERICA'S SMALL BUSINESSES NEED RELIEF -- RELIEF FROM TAXATION / LITIGATION / AND OVER- REGULATION. // - 14 - You KNOW, LAST MONTH I WAS IN WESTERN MICHIGAN, TALKING TO A GROUP OF SMALL BUSINESS LEADERS. I TALKED TO A GUY WHO RUNS AN ASPHALT PAVING COMPANY. HE SAID, "MR. PRESIDENT, WHEN A REGULATION DOESN'T MAKE SENSE, IT'S THE WORKER WHO PAYS -- WITH HIS JOB." // EXCESSIVE REGULATION IS A HUGE HIDDEN COST IN HOUSING. THE SINGLE MOST EXPENSIVE ITEM IN A HOME THESE DAYS ISN'T THE SHEETROCK / OR THE DRYWALL / IT ISN'T ALL THE LUMBER OR EVEN THE LAND UNDERNEATH. - 15 - - THE SINGLE MOST EXPENSIVE ITEM IN A NEW HOME THESE DAYS IS THAT PIECE OF PAPER YOU STICK INSIDE THE FRONT WINDOW -- THE BUILDING PERMIT. // ALL THE REGULATIONS IT REPRESENTS CAN ADD UP TO 20 TO 35 PERCENT OF THE COST OF EVERY HOUSE. THAT'S WHY I'VE PUT A FREEZE ON NEW FEDERAL REGULATIONS - -- TO GIVE BUSINESSES LIKE YOURS A CHANCE TO BREATHE. // - 15 A - [[ THAT'S WHY I'M ALSO ANNOUNCING TODAY AN IMPORTANT REGULATORY REFORM THAT WILL MAKE HOUSING MORE AFFORDABLE -- A REFORM THAT DOES NOT REQUIRE ACTION BY CONGRESS. IT WILL SUBSTANTIALLY REDUCE THE INSURANCE PREMIUM ON FHA-INSURED, 15-YEAR MORTGAGES, WITH BENEFITS TO BOTH HOMEBUYERS AND HOMEBUILDERS. - 15 B - Now, THIS ACTION IS NO SUBSTITUTE FOR THE LEGISLATION I PROPOSED TO CONGRESS BACK IN JANUARY. BUT I WILL CONTINUE TO DO EVERYTHING I CAN ON MY OWN TO GET THE ECONOMY MOVING, EVEN IF CONGRESS SITS ON ITS HANDS. // ]] - 16 - THERE ARE SOME GOOD SIGNS FOR THE HOUSING INDUSTRY. THE HOUSING AFFORDABILITY INDEX IS ALMOST DOUBLE WHAT IT WAS 10 YEARS AGO. INTEREST RATES TODAY ARE LOWER NOW THAN ANY TIME SINCE 1973. THE LAST TIME A FAMILY COULD GET A MORTGAGE THIS LOW -- MILK WAS 98 CENTS A GALLON, AND THE BRAVES' OWN HANK AARON WAS STILL CHASING BABE RUTH'S RECORD. // LET ME TELL YOU WHAT LOWER INTEREST RATES MEAN TO THE AMERICAN WORKER, THE AMERICAN FAMILY: - 17 - LOWER INTEREST RATES MEAN REAL MONEY -- REAL SAVINGS FOR EVERY AMERICAN WHO BUYS A HOME ... FOR EVERY FAMILY THAT REFINANCES A MORTGAGE. IT MEANS MONEY IN YOUR POCKET -- AS MUCH AS $2000 DOLLARS A YEAR OR MORE -- THAT INSTEAD OF PAYING TO THE BANK, YOU CAN PUT IN THE BANK. NATIONWIDE, OVER THE PAST TWO YEARS ALONE, THAT'S LIKE A 26 BILLION DOLLAR TAX CUT FOR AMERICA'S HOMEOWNERS. // Now THAT'S GOOD NEWS, BUT I'M NOT SATISFIED WITH GOOD NEWS WHEN WE COULD DO EVEN BETTER. / - 18 - SOME STUDIES SHOW THAT THREE-QUARTERS OF ALL RENTERS ARE READY TO BECOME BUYERS -- IF THEY COULD MUSTER UP THAT DOWNPAYMENT. // IF CONGRESS HAD PASSED MY PLAN WHEN I ASKED THEM TO -- IF CONGRESS HAD ACTED TO HELP FIRST-TIME HOMEBUYERS -- YOU'D SEE ALMOST 400,000 MORE "SOLD" SIGNS ON FRONT LAWNS ALL ACROSS AMERICA. // AND WORKERS IN THE HOME-BUILDING INDUSTRY WOULDN'T BE WORRIED ABOUT PINK SLIPS -- THEY'D BE T00 BUSY WORKING OVERTIME. // - 19 - So TODAY, LET ME MAKE A SUGGESTION: COME NOVEMBER 3RD, SEND ME A CONGRESS THAT SHARES OUR VIEWS TO GET THIS COUNTRY MOVING. // AND IF YOU SAY: GIVE ME ONE GOOD REASON YOU'LL GET CONGRESS TO ACT -- I'LL GIVE YOU 150. THAT'S THE NUMBER OF NEW FACES WE'LL PROBABLY SEE NEXT YEAR IN THE CONGRESS. Now -- I'LL BE CANDID. I WANT EVERY LAST ONE OF THEM TO BE REPUBLICAN. / - 20 - BUT WHATEVER PARTY THEY COME FROM -- EVEN IF THEY WERE FIRST ELECTED BEFORE SOME OF YOU WERE BORN -- THEY'LL COME BACK WITH A NEW APPRECIATION FOR WHAT YOU WANT: A COMPLETE set OF INSTRUCTIONS FROM THE AMERICAN PEOPLE THAT IT'S TIME FOR CONGRESS TO CHANGE. I AM CONVINCED WITH A NEW CONGRESS -- A CONGRESS MADE UP OF so MANY NEW MEMBERS -- WE CAN GET THE JOB DONE. AND DON'T FORGET WHAT HAPPENED THE LAST TIME THE DEMOCRATS CONTROLLED BOTH ENDS OF PENNSYLVANIA AVENUE: - 21 - THE DAYS OF MALAISE -- A MISERY INDEX OVER 20 PERCENT -- AND MORTGAGE RATES so HIGH IT WAS A LOCK-OUT FOR MILLIONS OF AMERICANS WHO WANTED TO BUY THEIR OWN HOME. WE'VE SEEN WHAT HAPPENS WHEN THE PARTY OF TAX AND SPEND OPERATES WITHOUT ANY CHECKS AND BALANCES. // THERE'S A BETTER WAY -- A WAY WE CAN DO WHAT'S RIGHT FOR AMERICA. I'VE SET OUT 13 SPECIFIC INITIATIVES -- 13 ACTIONS I'LL CHALLENGE THE NEW CONGRESS TO TAKE IN THE FIRST YEAR OF MY SECOND TERM. - 22 - NOVEMBER 3RD I'M LOOKING FOR A MANDATE TO MOVE FORWARD: To MOVE FORWARD ON MY AGENDA FOR AMERICAN RENEWAL -- AN AGENDA THAT BUILDS THE STRONGER, MORE SECURE AMERICA WE WANT FOR OURSELVES -- FOR OUR KIDS. // WE'VE GOT TO REMEMBER THIS FUNDAMENTAL FACT: AMERICA IS THE ENVY OF THE WORLD, NOT BECAUSE ITS GOVERNMENT IS GREAT -- BUT BECAUSE ITS PEOPLE ARE GREAT. BECAUSE THE AMERICAN PEOPLE ARE BUILDERS WHO DREAM, AND DREAMERS WHO BUILD. - 23 - THANK YOU ONCE AGAIN FOR THIS WARM WELCOME -- AND MAY GOD BLESS THE UNITED STATES OF AMERICA. # # # McGroarty/Nix September 16, 1992 12:30 p.m. 02 SEP 16 P8: 49 From the desk of [ga] PRESIDENTIAL REMARKS: GEOR George Bush JONE SEPT 3:1 ANDY Thank you ------- for 1, ON you, for this warm welcom Z I'm pleased today to Some small building here at 1270 La chageo. a little piece of the American Dream for the 1- any it home. // When you're done here, I'd like to pack you up and take you back to Washington. There's a certain House on the Hill back there that's in need of a little renovation. // You know Bob Vila's show: This Old House? Well, back in Washington, there's an old House on Capitol Hill that hasn't been cleaned out for 38 years. // Let me tell you why I'm here today. Now that the Cold War is over, the defining challenge of the 90's is to win the peace - - to win the competition of the new global economy. // I'll give it to you straight: In the 21st Century, America must be not only a military superpower, but an economic superpower -- an export superpower. In this election, you'll hear two versions of how to do this: My opponent's answer is to look inward -- to pretend we can protect what we already have. Ours is to look forward -- 2 open new markets, prepare our people to compete, restore the social fabric, to save and invest -- so that, when it comes to the global competition -- America will win. // We need what I offer: An Agenda for American Renewal -- a strategy that reaches out to the world in a way that makes a difference right here in Clayton County -- in your neighborhoods, in your lives. We must build on the fundamentals of lower tax rates, limits on government spending, less red tape and regulation -- and more trade, more competition, to generate the growth that means more opportunity ... more jobs. And I think that in the 90's, government can add to this growth program by building opportunity and hope for individuals, empowering families and communities. My agenda for renewal is a blueprint for long-term growth. But near-term -- right now -- we all know what we've got to do to jumpstart our economy ... to put America back to work. // Back in January, 8 months ago, I challenged Congress to pass a new incentive: a $5000 dollar tax credit for all first-time homebuyers. I proposed that "home credit" for two reasons: First, because I knew that coming out of troubled times, housing is traditionally the sector that pulls this economy forward. I also wanted to help young families, the ones struggling to save for that first home. Because the American Dream, after all, really starts right here (gesture to homesite) -- with a home of your own. // 3 This year alone, my plan would have meant more than 120,000 new housing starts -- and 220,000 new jobs in the economy, including jobs for carpenters and plumbers and plasterers. And for the average first-time homebuyer in Clayton County, that tax credit would have been the equivalent of eight month's worth of mortgage payments. Right here at 1270 Larkwood, it's like getting your down payment back -- and more. // My plan's still sitting / stalled by a do-nothing liberal I know this leadership that puts politics ahead of helping people Why worry : an election year - and the opporation puts ohy can um about helping put people into new homes and put you back to if the economy 13 bed so thy're refused to man. But it's work? I guess they figure they ve already got their own House - - and their own Senate, too. time to put petrol ahead // & politico hourng Rule #1 in this business is: build from the ground up. Well, given what you've seen in Congress this year -- I think this is one time you ought to raise the roof. // The housing business is no different from a hundred other small businesses in America. I see small business as the engine of the American economy -- generating jobs and opportunity. My opponent sees small business as the goose that laid the golden egg. From $150 billion in new taxes / to a payroll tax for Gov health care / to a training tax -- Bill Clinton wants to squeeze small business to bankroll big government. // Well I say: keep your hands off the housing industry. America's small businesses need relief -- relief from taxation / litigation / and over-regulation. // Document No. 350255ss WHITE HOUSE STAFFING MEMORANDUM DATE: 9/16/92 ACTION/CONCURRENCE/COMMENT DUE BY: --- PRESIDENTIAL REMARKS: GEORGIA HOMEBUILDERS SUBJECT: THURSDAY, SEPT. 17 - JONESBORO, GA ACTION FYI ACTION FYI VICE PRESIDENT MCBRIDE BAKER MOORE SCOWCROFT MULLINS DARMAN PETERSMEYER BATES PORTER BRADY PROVOST BROMLEY ROSS CALIO SMITH DEMAREST TUTWILER FITZWATER \ ZOELLICK GRAY KAUFMAN HOLIDAY MCGROARTY HORNER GROOMES BOSKIN 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 16 P2: 02 September 16, 1992 MEMORANDUM FOR THE PRESIDENT THROUGH: STEVE PROVOST SP FROM: DAN MC GROARTY DMC SUBJECT: GEORGIA HOMEBUILDERS I. Summary On Thursday, September 17, at 3:10 p.m., you will address approximately 1500 people gathered in front of a house under construction at The Avery of Walnut Creek, a development located in Jonesboro, Georgia. The audience will consist primarily of Atlanta Republicans, neighborhood homeowners, and local homebuilders. II. Discussion Your remarks (12 minutes, on prompter) highlight your Agenda -- specifically, focusing on your proposed $5000 tax credit for first-time homebuyers. McGroarty/Nix September 16, 1992 12:30 p.m. [ga] PRESIDENTIAL REMARKS: GEORGIA HOMEBUILDERS SITE JONESBORO, GEORGIA SEPTEMBER 17, 1992 3:10 P.M. Thank you ------- for those kind words -- and thanks, all of you, for this warm welcome. [Acknowledgements.] I'm pleased today to meet with you, because what you're building here at 1270 Larkwood Drive isn't just a house -- it's a little piece of the American Dream for the family who will call it home. // When you're done here, I'd like to pack you up and take you back to Washington. There's a certain House on the Hill back there that's in need of a little renovation. // You know Bob Vila's show: This Old House? Well, back in Washington, there's an old House on Capitol Hill that hasn't been cleaned out for 38 years. // Let me tell you why I'm here today. Now that the Cold War is over, the defining challenge of the 90's is to win the peace - - to win the competition of the new global economy. // I'll give it to you straight: In the 21st Century, America must be not only a military superpower, but an economic superpower -- an export superpower. In this election, you'll hear two versions of how to do this: My opponent's answer is to look inward -- to pretend we can protect what we already have. Ours is to look forward -- 2 open new markets, prepare our people to compete, restore the social fabric, to save and invest -- so that, when it comes to the global competition -- America will win. // We need what I offer: An Agenda for American Renewal -- a strategy that reaches out to the world in a way that makes a difference right here in Clayton County -- in your neighborhoods, in your lives. We must build on the fundamentals of lower tax rates, limits on government spending, less red tape and regulation -- and more trade, more competition, to generate the growth that means more opportunity more jobs. And I think that in the 90's, government can add to this growth program by building opportunity and hope for individuals, empowering families and communities. My agenda for renewal is a blueprint for long-term growth. But near-term -- right now -- we all know what we've got to do to jumpstart our economy to put America back to work. // Back in January, 8 months ago, I challenged Congress to pass a new incentive: a $5000 dollar tax credit for all first-time homebuyers. I proposed that "home credit" for two reasons: First, because I knew that coming out of troubled times, housing is traditionally the sector that pulls this economy forward. I also wanted to help young families, the ones struggling to save for that first home. Because the American Dream, after all, really starts right here (gesture to homesite) -- with a home of your own. // 3 This year alone, my plan would have meant more than 120,000 new housing starts -- and 220,000 new jobs in the economy, including jobs for carpenters and plumbers and plasterers. And for the average first-time homebuyer in Clayton County, that tax credit would have been the equivalent of eight month's worth of mortgage payments. Right here at 1270 Larkwood, it's like getting your down payment back -- and more. // My plan's still sitting / stalled by a do-nothing liberal leadership that puts politics ahead of helping people. Why worry about helping put people into new homes -- and put you back to work? I guess they figure they've already got their own House - - and their own Senate, too. // Rule #1 in this business is: build from the ground up. Well, given what you've seen in Congress this year -- I think this is one time you ought to raise the roof. // The housing business is no different from a hundred other small businesses in America. I see small business as the engine of the American economy -- generating jobs and opportunity. My opponent sees small business as the goose that laid the golden egg. From $150 billion in new taxes / to a payroll tax for health care / to a training tax -- Bill Clinton wants to squeeze small business to bankroll big government. // Well I say: keep your hands off the housing industry. America's small businesses need relief -- relief from taxation / litigation / and over-regulation. // 4 You know, last month I was in Western Michigan, talking to a group of small business leaders. I talked to a guy who runs an asphalt paving company. He said, "Mr. President, when regulation doesn't make sense, it's the worker who pays -- with his job. // Excessive regulation is a huge hidden cost in housing. The single most expensive item in a home these days isn't the sheetrock / or the drywall / it isn't all the lumber or even the land underneath. The single most expensive item in a new home these days is that piece of paper you stick inside the front window -- the Building Permit. // All the regulations it represents add up to 20 to 35 percent of the cost of every house. That's why I've put a freeze on new federal regulations -- to give businesses like yours a chance to breathe. // There are some good signs for the housing industry. The housing affordability index is almost double what it was 10 years ago. Interest rates today are lower now than any time since 1973. The last time a family could get a mortgage this low -- milk was 98 cents a gallon, or for you younger folks: Nolan Ryan was a rookie. // Let me tell you what lower interest rates mean to the American worker, the American family: Lower interest rates mean real money -- real savings for every American who buys a home for every family that refinances a mortgage. It means money in your pocket -- as much as $2000 dollars a year or more -- that instead of paying to the bank, you can put in the bank. 5 Nationwide, that's like an almost $30 billion dollar tax cut for America's homeowners. // Now that's good news, but I'm not satisfied with good news when we could do even better. / Some studies show that three- quarters of all renters are ready to become buyers -- if they could muster up that downpayment. // If Congress had passed my plan when I asked them to -- if Congress had acted to help first- time homebuyers -- you'd see almost 400,000 more "Sold" signs on front lawns all across America. // And workers in the home-building area wouldn't be worried about pink slips -- they'd be too busy working overtime. 11 So today, let me make a suggestion: Come November 3rd, you can send me a Congress I can work with. // And if you say: Give me one good reason you'll get Congress to act -- I'll give you 150. That's the number of new faces we'll see next year in the Congress. Now -- I'll be candid. I want every last one of them to be Republican. / But whatever party they come from -- even if they were first elected before some of you were born -- they'll come back with a new appreciation for what you want: a complete set of instructions from the American people that it's time for Congress to change. And don't forget what happened the last time the Democrats controlled both ends of Pennsylvania Avenue: The days of malaise -- a Misery Index over 20 percent -- and mortgage rates so high it was a lock-out for millions of Americans who wanted to buy 6 their own home. We've seen what happens when the party of tax and spend operates without any checks and balances. // There's a better way -- a way we can do what's right for America. I've set out 13 specific initiatives -- 13 actions I'll challenge the new Congress to take in the first year of my second term. / November 3rd I'm looking for a mandate to move forward: To move forward on my Agenda for American Renewal -- an agenda that builds the stronger, more secure America we want for ourselves -- for our kids. // We've got to remember this fundamental fact: America is the envy of the world, not because its government is great -- but because its people are great. Because the American people are builders who dream, and dreamers who build. Thank you once again for this warm welcome -- and may God bless the United States of America. # # # THE WHITE HOUSE WASHINGTON 2 SEP 16 2 P9: 39 September 16, 1992 MEMORANDUM FOR THE PRESIDENT FROM: STEVE PROVOST SP SUBJECT: HOMEBUILDERS SPEECH INSERT Council's Office has asked for an insert to be added to the Homebuilders' speech in Jonesboro, Georgia. The addition has been bracketed. McGroarty/Nix September 16, 1992 12:30 p.m. C2 SEP 16 P8: 49 [ga] PRESIDENTIAL REMARKS: GEORGIA HOMEBUILDERS SITE JONESBORO, GEORGIA SEPTEMBER 17, 1992 3:10 P.M. Thank you ------- for those kind words -- and thanks, all of you, for this warm welcome. [Acknowledgements.] I'm pleased today to meet with you, because what you're building here at 1270 Larkwood Drive isn't just a house --- it's a little piece of the American Dream for the family who will call it home. // When you're done here, I'd like to pack you up and take you back to Washington. There's a certain House on the Hill back there that's in need of a little renovation. // You know Bob Vila's show: This Old House? Well, back in Washington, there's an old House on Capitol Hill that hasn't been cleaned out for 38 years. // Let me tell you why I'm here today. Now that the Cold War is over, the defining challenge of the 90's is to win the peace - - to win the competition of the new global economy. // I'll give it to you straight: In the 21st Century, America must be not only a military superpower, but an economic superpower -- an export superpower. In this election, you'll hear two versions of how to do this: My opponent's answer is to look inward -- to pretend we can protect what we already have. Ours is to look forward -- 2 open new markets, prepare our people to compete, restore the social fabric, to save and invest -- so that, when it comes to the global competition -- America will win. // We need what I offer: An Agenda for American Renewal -- a strategy that reaches out to the world in a way that makes a difference right here in Clayton County -- in your neighborhoods, in your lives. We must build on the fundamentals of lower tax rates, limits on government spending, less red tape and regulation -- and more trade, more competition, to generate the growth that means more opportunity more jobs. And I think that in the 90's, government can add to this growth program by building opportunity and hope for individuals, empowering families and communities. My agenda for renewal is a blueprint for long-term growth. But near-term -- right now -- we all know what we've got to do to jumpstart our economy to put America back to work. // Back in January, 8 months ago, I challenged Congress to pass a new incentive: a $5000 dollar tax credit for all first-time homebuyers. I proposed that "home credit" for two reasons: First, because I knew that coming out of troubled times, housing is traditionally the sector that pulls this economy forward. I also wanted to help young families, the ones struggling to save for that first home. Because the American Dream, after all, really starts right here (gesture to homesite) -- with a home of your own. // 3 This year alone, my plan would have meant more than 120,000 new housing starts -- and 220,000 new jobs in the economy, including jobs for carpenters and plumbers and plasterers. And for the average first-time homebuyer in Clayton County, that tax credit would have been the equivalent of eight month's worth of mortgage payments. Right here at 1270 Larkwood, it's like getting your down payment back -- and more. // My plan's still sitting / stalled by a do-nothing liberal leadership that puts politics ahead of helping people. Why worry about helping put people into new homes -- and put you back to work? I guess they figure they've already got their own House - - and their own Senate, too. // Rule #1 in this business is: build from the ground up. Well, given what you've seen in Congress this year -- I think this is one time you ought to raise the roof. // The housing business is no different from a hundred other small businesses in America. I see small business as the engine of the American economy -- generating jobs and opportunity. My opponent sees small business as the goose that laid the golden egg. From $150 billion in new taxes / to a payroll tax for health care / to a training tax -- Bill Clinton wants to squeeze small business to bankroll big government. // Well I say: keep your hands off the housing industry. America's small businesses need relief -- relief from taxation / litigation / and over-regulation. / / 4 You know, last month I was in Western Michigan, talking to a group of small business leaders. I talked to a guy who runs an asphalt paving company. He said, "Mr. President, when regulation doesn't make sense, it's the worker who pays -- with his job. = // Excessive regulation is a huge hidden cost in housing. The single most expensive item in a home these days isn't the sheetrock / or the drywall / it isn't all the lumber or even the land underneath. The single most expensive item in a new home these days is that piece of paper you stick inside the front window -- the Building Permit. // All the regulations it represents can add up to 20 to 35 percent of the cost of every house. That's why I've put a freeze on new federal regulations -- to give businesses like yours a chance to breathe. // [[ That's why I'm also announcing today a package of new an important regulatory reforms that will make housing more affordable -- a reforms that require action by Congress. The highlight It is & does, not an action that will substantially reduce the insurance premium on FHA-insured, 15-year mortgages, with benefits to both homebuyers NOTE. Delete and homebuilders. The life of the loan, that's a savengs of between this Now, such A actions are is no substitute for the legislation I an 30007 6000 line. proposed to Congress back in January. But I will continue to do dollars. everything I can on my own to get the economy moving, even if Congress sits on its hands. // ]] There are some good signs for the housing industry. The housing affordability index is almost double what it was 10 years 5 ago. Interest rates today are lower now than any time since 1973. The last time a family could get a mortgage this low -- milk was 98 cents a gallon, and the Brave's own Hank Aaron was still chasing Babe Ruth's record. // Let me tell you what lower interest rates mean to the American worker, the American family: Lower interest rates mean real money -- real savings for every American who buys a home ... for every family that refinances a mortgage. It means money in your pocket -- as much as $2000 dollars a year or more -- that andy instead of paying to the bank, you can put in the bank. over past 2 yrs., $26 Nationwide, that's like an almost $30 billion dollar tax cut for America's homeowners. // Now that's good news, but I'm not satisfied with good news when we could do even better. / Some studies show that three- quarters of all renters are ready to become buyers -- if they could muster up that downpayment. // If Congress had passed my plan when I asked them to -- if Congress had acted to help first- time homebuyers -- you'd see almost 400,000 more "Sold" signs on front lawns all across America. // And workers in the home-building area wouldn't be worried about pink slips -- they'd be too busy working overtime. // So today, let me make a suggestion: Come November 3rd, you can send me a Congress I can work with. // And if you say: Give me one good reason you'll get Congress to act -- I'll give you 150. That's the number of new faces we'll see next year in the Congress. Now -- I'll be candid. I 6 want every last one of them to be Republican. / But whatever party they come from -- even if they were first elected before some of you were born -- they'll come back with a new appreciation for what you want: a complete set of instructions from the American people that it's time for Congress to change. And don't forget what happened the last time the Democrats controlled both ends of Pennsylvania Avenue: The days of malaise -- a Misery Index over 20 percent -- and mortgage rates so high it was a lock-out for millions of Americans who wanted to buy their own home. We've seen what happens when the party of tax and spend operates without any checks and balances. // There's a better way -- a way we can do what's right for America. I've set out 13 specific initiatives -- 13 actions I'll challenge the new Congress to take in the first year of my second term. / November 3rd I'm looking for a mandate to move forward: To move forward on my Agenda for American Renewal -- an agenda that builds the stronger, more secure America we want for ourselves -- for our kids. // We've got to remember this fundamental fact: America is the envy of the world, not because its government is great -- but because its people are great. Because the American people are builders who dream, and dreamers who build. Thank you once again for this warm welcome -- and may God bless the United States of America. # # # THE WHITE HOUSE WASHINGTON September 16, 1992 MEMORANDUM FOR THE PRESIDENT THROUGH: STEVE PROVOST sp FROM: DAN MC GROARTY DMR SUBJECT: GEORGIA HOMEBUILDERS I. Summary On Thursday, September 17, at 3:10 p.m., you will address approximately 1500 people gathered in front of a house under construction at The Avery of Walnut Creek, a development located in Jonesboro, Georgia. The audience will consist primarily of Atlanta Republicans, neighborhood homeowners, and local homebuilders. II. Discussion Your remarks (12 minutes, on prompter) highlight your Agenda -- specifically, focusing on your proposed $5000 tax credit for first-time homebuyers. McGroarty/Nix September 16, 1992 12:30 p.m. [ga] PRESIDENTIAL REMARKS: GEORGIA HOMEBUILDERS SITE JONESBORO, GEORGIA SEPTEMBER 17, 1992 3:10 P.M. Thank you ------- for those kind words -- and thanks, all of you, for this warm welcome. [Acknowledgements.] I'm pleased today to meet with you, because what you're building here at 1270 Larkwood Drive isn't just a house -- it's a little piece of the American Dream for the family who will call it home. // When you're done here, I'd like to pack you up and take you back to Washington. There's a certain House on the Hill back there that's in need of a little renovation. // You know Bob Vila's show: This Old House? Well, back in Washington, there's an old House on Capitol Hill that hasn't been cleaned out for 38 years. // Let me tell you why I'm here today. Now that the Cold War is over, the defining challenge of the 90's is to win the peace - - to win the competition of the new global economy. // I'll give it to you straight: In the 21st Century, America must be not only a military superpower, but an economic superpower -- an export superpower. In this election, you'll hear two versions of how to do this: My opponent's answer is to look inward -- to pretend we can protect what we already have. Ours is to look forward -- 2 open new markets, prepare our people to compete, restore the social fabric, to save and invest -- so that, when it comes to the global competition -- America will win. // We need what I offer: An Agenda for American Renewal -- a strategy that reaches out to the world in a way that makes a difference right here in Clayton County -- in your neighborhoods, in your lives. We must build on the fundamentals of lower tax rates, limits on government spending, less red tape and regulation -- and more trade, more competition, to generate the growth that means more opportunity more jobs. And I think that in the 90's, government can add to this growth program by building opportunity and hope for individuals, empowering families and communities. My agenda for renewal is a blueprint for long-term growth. But near-term -- right now -- we all know what we've got to do to jumpstart our economy to put America back to work. // Back in January, 8 months ago, I challenged Congress to pass a new incentive: a $5000 dollar tax credit for all first-time homebuyers. I proposed that "home credit" for two reasons: First, because I knew that coming out of troubled times, housing is traditionally the sector that pulls this economy forward. I also wanted to help young families, the ones struggling to save for that first home. Because the American Dream, after all, really starts right here (gesture to homesite) -- with a home of your own. // 3 This year alone, my plan would have meant more than 120,000 new housing starts -- and 220,000 new jobs in the economy, including jobs for carpenters and plumbers and plasterers. And for the average first-time homebuyer in Clayton County, that tax credit would have been the equivalent of eight month's worth of mortgage payments. Right here at 1270 Larkwood, it's like getting your down payment back -- and more. // My plan's still sitting / stalled by a do-nothing liberal leadership that puts politics ahead of helping people. Why worry about helping put people into new homes -- and put you back to work? I guess they figure they've already got their own House - - and their own Senate, too. // Rule #1 in this business is: build from the ground up. Well, given what you've seen in Congress this year -- I think this is one time you ought to raise the roof. // The housing business is no different from a hundred other small businesses in America. I see small business as the engine of the American economy -- generating jobs and opportunity. My opponent sees small business as the goose that laid the golden egg. From $150 billion in new taxes / to a payroll tax for health care / to a training tax -- Bill Clinton wants to squeeze small business to bankroll big government. // Well I say: keep your hands off the housing industry. America's small businesses need relief -- relief from taxation / litigation / and over-regulation. // 4 You know, last month I was in Western Michigan, talking to a group of small business leaders. I talked to a guy who runs an asphalt paving company. He said, "Mr. President, when regulation doesn't make sense, it's the worker who pays -- with his job. // Excessive regulation is a huge hidden cost in housing. The single most expensive item in a home these days isn't the sheetrock / or the drywall / it isn't all the lumber or even the land underneath. The single most expensive item in a new home these days is that piece of paper you stick inside the front window -- the Building Permit. // All the regulations it represents add up to 20 to 35 percent of the cost of every house. That's why I've put a freeze on new federal regulations -- to give businesses like yours a chance to breathe. // There are some good signs for the housing industry. The housing affordability index is almost double what it was 10 years ago. Interest rates today are lower now than any time since 1973. The last time a family could get a mortgage this low -- milk was 98 cents a gallon, or for you younger folks: Nolan Ryan was a rookie. // Let me tell you what lower interest rates mean to the American worker, the American family: Lower interest rates mean real money -- real savings for every American who buys a home for every family that refinances a mortgage. It means money in your pocket -- as much as $2000 dollars a year or more -- that instead of paying to the bank, you can put in the bank. 5 Nationwide, that's like an almost $30 billion dollar tax cut for America's homeowners. // Now that's good news, but I'm not satisfied with good news when we could do even better. / Some studies show that three- quarters of all renters are ready to become buyers -- if they could muster up that downpayment. // If Congress had passed my plan when I asked them to -- if Congress had acted to help first- time homebuyers -- you'd see almost 400,000 more "Sold" signs on front lawns all across America. // And workers in the home-building area wouldn't be worried about pink slips -- they'd be too busy working overtime. // So today, let me make a suggestion: Come November 3rd, you can send me a Congress I can work with. // And if you say: Give me one good reason you'll get Congress to act -- I'll give you 150. That's the number of new faces we'll see next year in the Congress. Now -- I'll be candid. I want every last one of them to be Republican. / But whatever party they come from -- even if they were first elected before some of you were born -- they'll come back with a new appreciation for what you want: a complete set of instructions from the American people that it's time for Congress to change. And don't forget what happened the last time the Democrats controlled both ends of Pennsylvania Avenue: The days of malaise -- a Misery Index over 20 percent -- and mortgage rates so high it was a lock-out for millions of Americans who wanted to buy 6 their own home. We've seen what happens when the party of tax and spend operates without any checks and balances. // There's a better way -- a way we can do what's right for America. I've set out 13 specific initiatives -- 13 actions I'll challenge the new Congress to take in the first year of my second term. / November 3rd I'm looking for a mandate to move forward: To move forward on my Agenda for American Renewal -- an agenda that builds the stronger, more secure America we want for ourselves -- for our kids. // We've got to remember this fundamental fact: America is the envy of the world, not because its government is great -- but because its people are great. Because the American people are builders who dream, and dreamers who build. Thank you once again for this warm welcome -- and may God bless the United States of America. # # # September 11, 1992 Me Groarty MEMORANDUM TO: KATHY SUPER JOHN KELLER STEVE PROVOST FROM: GARY FOSTER G7 SUBJECT: SITE SURVEY FOR ATLANTA, GEORGIA Attached is the site survey for the President's trip to Atlanta, Georgia on Thursday, September 17. Once Kathy has the site "scrubbed", implementation can begin. CC: Bob Zoellick David Bates Dennis Ross Margaret Tutwiler Tim McBride Karen Groomes Andrew Carpendale Speechwriters September 10, 1992 MEMORANDUM TO: GARY FOSTER FROM: DOUG DUVALL SUBJECT: SURVEY REPORT FOR JONESBORO, GEORGIA THURSDAY, SEPTEMBER 17, 1992 EVENT SCENARIO: On the afternoon of September 17th, the President will travel from Enid, Oklahoma to Atlanta's Hartsfield Airport. The President will motorcade 20 minutes to a housing development in Jonesboro, Georgia where he will address a crowd of approximately 3,000. The President will be able to draw from his major speech in Detroit by highlighting his proposals to stimulate economic growth. In particular, the $5,000 tax credit for first time home buyers is a short term stimulus to get the housing industry and the entire economy moving. The housing industry has traditionally been a leader providing jobs quickly for an economic recovery. The tax credit, coupled with tax free IRA withdraws for first time home buyers, define the difference between the President's and Clinton's agendas. After the event, the President will motorcade to a downtown hotel. He will attend a fundraiser and attend the U.S. Olympic Flag Jam in the Georgia Dome later that evening. SITE PROPOSAL: The Bush Quayle organization strongly recommended we have the event in Clayton County which is 51% Republican. The proposed site is in Jonesboro which has a higher Republican concentration. Fayette, the neighboring county, is the highest percentage Republican county in the state. Given the nature of the event it is essential that the President speak in front of a low to moderately priced home under construction. The site is located in a development called the Avery of Walnut Creek. Avery's residents are lower to middle income with the majority of homes ranging from $70,000 - $75,000. Most of the people who are buying are first time home buyers (some with children) and "empty nesters", retired couples who are downsizing their homes. The problem I encountered when conducting the site survey was finding houses of that price range currently under construction. Many first time home buyers in the metro Atlanta area are buying $150, 000+ homes. This says something positive about the economy but does not give of the proper image nationally. Construction at the Avery site began two years ago, and approximately 75% of the lots have homes. Gerry Kopp, the developer of Avery and Clayton County GOP Chair, says the biggest problem people have in buying these homes is the down payment. The house proposed as a backdrop for the event is located at 1270 Larkwood Drive. The house is framed with 2 X 4's and the plywood has already been covered with roofing paper. Mr. Kopp says he can speed up or slow down construction depending on the desired look we want. There is a vacant lot on both sides of the house but completed homes beyond that. A retired Colonel and his wife live in the occupied home next door and a CPA (African-American) and his family live next to them. Across the street are vacant, dirt lots. Mr. Kopp says he can level off the dirt with a bulldozer for the standing crowd. Mr. Kopp is also willing to put a bulldozer, dump truck, 2 X 4's on site for a more industrial atmosphere. The site also overlooks the finished and occupied 2-3 bedroom homes of Avery. I propose the motorcade drive northeast on Larkwood Drive and stop just prior to the home. A-tented area could be created for an no enclosed The President would then proceed to a small dais off to the side of the house. The audience would fill the vacant lot next door, the north half of Larkwood Drive and the vacant lots across the street. The press platform could be at a head-on position on Larkwood Drive. The cutaway would either be of the onlooking crowd or the finished home next door. A crowd of 2,000 - 3,000 will look quite full, especially since the area across the street scales upward, like an ampitheatre. There are some security concerns considering the event will be held in a neighborhood. The positioning of the bulldozer, dump truck, wood, etc. should block the view of the neighbors to the rear of the lot. There is also a 100 yd. strip of woods that has a line of site, but only the tops of the trees are visible. It should also be noted that Gov. Clinton was in Clayton County on Wednesday, September 9th talking about welfare reform. The President can use this housing event to highlight the differences in the campaigns by stressing that we want to get people off of government dependency and allow everyone an opportunity to achieve the American Dream. Further, our administration seeks to empower public housing residents by allowing them a chance to manage and eventually own their homes. Finally, the Democratic Congress did not fully fund the President's HOPE (Homeownership and Opportunity for People Everywhere) proposal, once again hampering the Administration's ability to get his agenda to the people. CONTACTS: Lindey Fitzgerald, Georgia Bush-Quayle, 404/261-1992 Gerry Kopp, Developer of the Avery and Clayton County GOP 404/471-1533 Friday, Sept. 11, 1992 The Atlanta Journal The Atlanta Constitution GUARD JOEY IVANSCO / Scaff Olympic moment: The U.S. Coast Guard tall ship Eagle arrives in Savannah with the Olympic flag aboard. Thousands were on hand to welcome the banner. A tall ship - and a historic flag Olympic banner INSIDE on board and get ownership," Atlanta Olympics chief Billy arrives for trip Payne told a hotel ballroom of Lomax praises stadium arts Savannah business and politi- across Georgia consultation. G3 cal leaders after the flag's ar- rival. "We must make all Geor- Bush invited to Olympic flag's gians feel as passionate about By Bert Roughton Jr. arrival in Atlanta. G3 this once-in-a-lifetime oppor- STAFF WRITER tunity as do the people of At- Valdosta today. It will arrive in lanta." Savannah - Despite a Atlanta Sept. 17 and will be of- For Gov. Zell Miller, the cold, pelting rain, a crowd of ficially received at the Georgia flag's arrival at Georgia's thousands welcomed the offi- Depot next to Underground the birthplace summoned images cial Olympic flag Thursday as next day, exactly two years af- of a tall ship bearing James the banner bearing the familiar ter Atlanta was selected to host Ogiethorpe landing at nearly five interlocking rings was de- the Olympics. the same spot on the Savannah livered by a Coast Guard tall Olympic organizers used River in 1733. A native named ship. their first big event in the state Tomochichi gaped in amaze- After a lengthy and soggy to stress the importance of ment at an event that would celebration, the flag was sent making all Georgians feel they dramatically alter the course of on the first leg of a 1,400-mile have a stake in the 1996 Games. Georgia history. whistlestop journey around the "The Olympic movement is big state, making its first stop in enough for all Georgians to get Please see FLAG, G3 Flag: 'World now stands' at Georgia's doorstep, Miller says The Atlanta Journal / The Atlanta Constitution Friday, September 11, 1992 Continued from GI gia on a corporate jet and then flown "This morning, like Tomochichi, we out to the ship Thursday morning. have watched a tall ship sailing up the With Mayor Jackson recovering Savannah River, something that again from heart surgery in Atlanta, the flag has the potential to change the course was carried off the ship and onto a tem- of Georgia history in striking and far- porary stage on River Street by City reaching ways," the governor said un- Council President Marvin Arrington. der a light drizzle. Mr. Arrington only half-waved the The governor sought to ease con- 78-year-old flag in the drizzle as he ap- cerns that Atlanta would be unable to peared on the gangway. Also disem- Bush's visit Thursday barking from the ship were U.S. Sen. match the grandeur of the just-conclud- ed and much-heralded Barcelona Sam Nunn and various Olympic offi- will be non-political, Olympics. Atlanta, compared with the cials, including Mr. Payne, former Mayor Andrew Young and Anita De- ACOG officials insist ancient Spanish city, is a "mere infant" Frantz, the American member of the with an eye on the future, he said. "Today, it is our ship that comes in," International Olympic Committee. By Bert Roughton Jr. he said. "It is our doorstep on which the Mr. Payne said the flag would be STAFF WRITER world now stands." displayed in Atlanta until 1996 as "the The ship was preceded up the river ultimate symbol of the power, prestige Savannah - Olympic organizer by a flotilla and heralded by cannon fire and potential of the Olympic have invited President Bush to tak movement." from a ceremonial battery from Fort part in flag-welcoming ceremonies i Stewart. The arrival of the flag, originally Atlanta Thursday in his role as honor The flag, the same one that was flown over the 1920 Games in Antwerp, ary president of the U.S. Olympi was attended by a two-hour celebration Committee. that included gospel singing, original "In no way is this intended to b Around the bend works by Georgia composers per- any kind of political appearance, formed by the 195-member Atlanta Charlie Battle, executive vice presi The Olympic flag train's schedule: Olympic Band and, of course, an ap- dent for external relations with th pearance by Whatizit, the ever-smiling Atlanta Committee for the Olympi Friday: Valdosta amorphous Olympic mascot. At times Games, said Thursday. "We have a Saturday: Albany the celebration had the feel of a very understanding with the White Hous Sunday: Columbus long halftime show at a college football to that effect." Monday: Macon game, but it had the Southern and Mr. Battle said he has assured offi Tuesday: Augusta Wednesday: Athens American flavor that had been missing cials with the Clinton campaign, a from previous Atlanta Olympic events. well as Gov. Zell Miller and Mayo Thursday: Rome, then to the Jenny Katz, a 16-year-old junior at Maynard H. Jackson, all Democrats evening Flagfam at the Georgia Savannah Christian Preparatory that the appearance is purely non-po Dome. Sept. 18: Official arrival in Adan- School, said her spirits weren't damp- litical and only an extension of th ened by the rain. "It's just been raining president's honorary position. Mr ta, with exhibits and entertainment so much lately that everybody has got- Bush is expected, however, to make all weekend. ten used to it," she said under an um- campaign appearances while in At Sept. 21: Parade and flag installa- brella with her friend, Jason Harrel- lanta. tion at City Hall. son, 16, a junior at Savannah's Jenkins ACOG officials expect Mr. Bush t High School. "This is big. I think it's appear at the FlagJam in the Georgi really cool because it gets Savannah in- Dome Thursday. transferred to Atlanta Mayor Maynard cluded with the Olympics." Under ACOG's plans, which ar H. Jackson in Barcelona a month and a Staff writer Steve Harvey contribut- subject to approval by the Whit day ago, was flown from Spain to Geor- ed to this article. House, the president will enter th dome as part of the 1992 Barcelon delegation, take part in a flag-raisin ceremony and make brief remarks. ACOG understands, but has no confirmed officially, that the presi dent has accepted, Mr. Battle said. September 17, 1992 MEMORANDUM FOR CHRISTINA MARTIN FROM: DAN MC GROARTY SUBJECT: GEORGIA ACKS Per Walter White, we need to acknowledge the following: Newt Gingrich. Paul Coverdell, GOP candidate for US Senate Mac Collins (current State Senator) candidate for Congress. The event takes place in Georgia's 3rd District, currently represented by Democrat Richard Ray -- Collins' opponent. Collins is campaigning on the "Clean House" theme -- even, according to Political, carrying a broom with him wherever he goes. We ought to say something like "And I want to salute Mac Collins, your next Congressman -- who's come prepared to help me Clean House." This should lead in to the "This Old House" joke near the top of the speech. Counsel's office Gene Schaerr POSSIBLE INSERT FOR HOMEBUILDERS NAME: SPEECH IN GA 9/16: He has a couple of 9/16 HUD regulatory reforms that will DATE: reduce the cost of home ownership 5:25p that could be announced at the TIME: POTUS speech in Ga 9/16. CDJ 7953 If you want to do that. PHONE: (HIS Already gome to Pres.) NAME: DATE: TIME: PHONE: NAME: Ma. DATE: TIME: PHONE: NAME: DATE: TIME: PHONE: file. NAME: DATE: TIME: PHONE: NAME: DATE: TIME: PHONE: THE WHITE HOUSE WASHINGTON September 16, 1992 MEMORANDUM FOR ROBERT E. ZOELLICK DEPUTY CHIEF OF STAFF FROM: GENE C. SCHAERR ASSOCIATE COUNSEL TO THE PRESIDENT SUBJECT: Homebuilders Speech I just received a copy of the draft speech to the homebuilders, which I think would be much more newsworthy if the President could announce some concrete steps to help the construction industry. As part of the regulatory reform initiative that Boyden Gray and Michael Boskin have been supervising, HUD has already developed three new administrative actions that do just that. They are: A reduction in mortgage insurance premiums on 15-year, FHA- insured mortgages. HUD estimates that, for those who choose a 15-year mortgage, this change will reduce closing costs by an average of $650 (based on an average loan of $65,000). It will also reduce the annual mortgage premium by $165 to $325. A new demonstration program that will allow a buyer of a new home to convert FHA construction financing into a permanent, FHA-insured mortgage. HUD estimates that this would save consumers an average of $1400 for duplicate appraisals, title insurance, attorney fees, etc. Simplified procedures for determining whether public housing construction projects satisfy HUD's "subsidy layering" guidelines. Specifically, HUD has replaced the current "internal rate of return" method for calculating the level of public assistance with the "net equity" method favored by States and homebuilders. The National Association of Homebuilders has been pushing hard for this change. We had been planning to announce these iniatives in a week or two as part of a broader HUD "rollout." But tomorrow's speech seems like the perfect occasion. If you want to include some or all of these in the speech, please let me know. I will be happy to (a) provide you with any additional information you need, (b) prepare an appropriate fact sheet, and (c) make the necessary arrangements with HUD. THE WHITE HOUSE WASHINGTON That's why I'm also announcing today [will shortly announce] an important package of new regulatory reforms that will make housing more affordable, and that do not require action by Congress. The It highlight is an action that will substantially reduce the insurance premium on FHA-insured, 15-year mortgages. this NS I admit that such actions are no substitute for the legislation I J proposed to Congress back in January. But I will continue to do everything I can on my own to get the economy moving, even if Congress sits on its hands. with benefits to 350255SS Document No. WHITE HOUSE STAFFING MEMORANDUM Wed 9/15/92 DATE: NOON, THURS. SEPT.] ACTION/CONCURRENCE/COMMENT DUE BY: PRESIDENTIAL REMARKS: GEORGIA HOMEBUILDERS SITE JONESBORO, GA SUBJECT: SEPTEMBER 17, 1992 ACTION FYI ACTION FYI VICE PRESIDENT MCBRIDE BAKER x MOORE SCOWCROFT *MULLINS DARMAN PETERSMEYER BATES PORTER BRADY x PROVOST BROMLEY ROSS CALIO N/C SMITH DEMAREST TUTWILER FITZWATER x ZOELLICK GRAY KAUFMAN HOLIDAY N/C BOSKIN rew HORNER GROOMES MCGROARTY REMARKS: Please provide comments on the attached directly to Dan McGroarty, Rm. 122, x2930, with a copy to this office NO LATER THAN NOON, THURSDAY, SEPTEMBER 16. Thank you. Wed RESPONSE: called 11:00 11:55 MASTER PHILLIP D. BRADY Assistant to the President and Staff Secretary Ext. 2702 McGroarty/Nix September 15, 1992 2:30 p.m. 2 SEP 15 P2: 49 [ga] PRESIDENTIAL REMARKS: GEORGIA HOMEBUILDERS SITE JONESBORO, GEORGIA SEPTEMBER 17, 1992 XX:00 A.M.?? 3:15 p.m. Thank you ------- for those kind words -- and thanks, all of you, for this warm welcome. [Acknowledgements.] I'm pleased today to meet with you, because what you're building here at 1270 Larkwood Drive isn't just a house -- it's a little piece of the American Dream for the family who will call it home. // When you're done here, I'd like to pack you up and take you back to Washington. There's a certain House on the Hill back there that's in need of a little renovation. // You know Bob Vila's show: This Old House? Well, there's an old House (ofCorgaes) back in. back in Wasts Washington that hasn't been cleaned out for 38 years. on // CAP. H.H Let me tell you why I'm here today. Now that the Cold War is over, the defining challenge of the 90's is to win the peace - - to win the competition of the new global economy. // I'll give it to you straight: In the 21st Century, America must be not only a military superpower, but an economic superpower -- an export superpower. In this election, you'll hear two versions of how to do this: My opponent's answer is to look inward -- to pretend we can protect what we already have. Ours is to look forward -- open new markets, prepare our people to compete, restore the 2 social fabric, to save and invest -- so that, when it comes to the global competition -- America will win. // We need what I offer: An Agenda for American Renewal -- a strategy that reaches out to the world in a way that makes a difference right here in Clayton County -- in your neighborhoods, in your lives. We must build on the fundamentals of lower tax rates, limits on government spending, less red tape and regulation -- and more trade, more competition, to generate the growth that means more opportunity ... more jobs. And I think that in the 90's, government can add to this growth program by building opportunity and hope for individuals, empowering families and communities. My agenda for renewal is the blueprint for long-term growth. But near-term -- right now -- we all know we've got to do what we can to jumpstart our economy ... to put America back to work. // Back in January, more than 8 months ago, I challenged Congress to pass a new incentive: a $5000 dollar tax credit for all first-time homebuyers. I proposed that "home credit" for two reasons: First, because I knew that coming out of troubled times, housing is traditionally the sector that pulls this economy forward. I also wanted to help young families, the ones struggling to save for that first home. Because the American Dream, after all, really starts right here (gesture to homesite) -- with a home of your own. // 3 This year alone, my plan would have meant more than 270,000 new housing starts -- and 120,000 new jobs for carpenters and plumbers and plasterers. And for the average first-time homebuyer in Clayton County, that tax credit would have been the equivalent of eight month's worth of mortgage payments. Right here at 1270 Larkwood, it's like getting your down payment back - - and more. // do-nothing My plan's still sitting / stalled by a liberal leadership that puts politics ahead of helping people. Why worry about helping put people into new homes -- and put you back to work? I guess they figure they've already got their own House -- and their own Senate, too. // Rule #1 in this business is: build from the ground up. Well, given what you've seen in Congress this year -- I think this is one time you ought to raise the roof. // The housing business is no different from a hundred other small businesses in America. I see small business as the engine of the American economy -- generating jobs and opportunity. My opponent sees small business as the goose that laid the golden egg. From $150 billion in new taxes / to a payroll tax for health care / to a training tax -- Bill Clinton wants to squeeze small business to bankroll big government. // Well I say: keep your hands off the housing industry. America's small businesses need relief -- relief from taxation / litigation / and over-regulation. // 4 You know, last month I was in Western Michigan, talking to a group of small business leaders. I talked to a guy who runs an asphalt paving company. He said, "Mr. President, government regulations are killing us." He made the point that when a regulation doesn't make sense, it's the worker who pays -- with his job. // Excessive regulation is a huge hidden cost in housing. The single most expensive item in a home these days isn't the sheetrock / or the drywall / it isn't all the lumber or even the land underneath. The single most expensive item in a new home these days is that piece of paper you stick inside the front window -- the Building Permit. // All the regulations it represents add up, on average, to as much as 25 percent of the cost of every house. That's why I've put a freeze on all e new federal regulation - - to give businesses like yours a chance to breathe. // There are some good signs for the housing industry. Interest rates today are lower now than any time since 1973. {Add housing affordability index stat.} The last time a family could get a mortgage this low -- milk was 98 cents a gallon, or for you younger folks: Nolan Ryan was a rookie. // Let me tell you what lower interest rates mean to the American worker, the American family: Lower interest rates mean real money -- real savings for every American who buys a home for every family that refinances a mortgage. It means money in your pocket -- on average, as much as $2000 dollars a year -- 5 that instead of paying to the bank, you can put in the bank. Nationwide, that's like a $30 billion dollar tax cut for America's homeowners. // Now that's good news, but I'm not satisfied with good news when we could have even better. / Some studies show that three- quarters of all renters are ready to become buyers -- if they could muster up that downpayment. // If Congress had passed my plan when I asked them to -- if Congress had acted to help first- time homebuyers -- you'd see [half a million] more "Sold" signs on front lawns all across America. // And workers in the home-building area wouldn't be worried about pink slips -- they'd be too busy working overtime. // So today, let me make a suggestion: Come November 3rd, you can send me a Congress I can work with. // And if you say: Give me one good reason you'll get Congress to act -- I'll give you 150. That's the number of new faces we'll see next year in the Congress. Now -- I'll be candid. I want every last one of them to be Republican. / But whatever party they come from -- even if they were first elected before some of you were born -- they'll come back with a new appreciation for what you want: a complete set of instructions from the American people that it's time for Congress to change. And don't forget what happened the last time the Democrats controlled both ends of Pennsylvania Avenue: The days of malaise -- a Misery Index over 20 percent -- and mortgage rates so high it was a lock-out for millions of Americans who wanted to buy 6 their own home. We've seen what happens when the party of tax and spend operates without any checks and balances. // There's a better way -- a way we can do what's right for America. I've set out 13 specific initiatives -- 13 actions I'll challenge the new Congress to take in the first year of my second term. / November 3rd I'm looking for a mandate to move forward: To move forward on my Agenda for American Renewal -- an agenda that builds the stronger, more secure America we want for ourselves -- for our kids. // We've got to remember this fundamental fact: America is the envy of the world, not because its government is great -- but because its people are great. Because the American people are builders who dream, and dreamers who build. Thank you once again for this warm welcome -- and may God bless the United States of America. # # # 350255SS Document No. 6930 WHITE HOUSE STAFFING MEMORANDUM wed. 9/15/92 DATE: 92 ACTION/CONCURRENCE/COMMENT DUE BY: NOON, THURS., SEPT. PRESIDENTIAL REMARKS: GEORGIA HOMEBUILDERS SITE JONESBORO, GA SUBJECT: SEPTEMBER 17, 1992 ACTION FYI ACTION FYI VICE PRESIDENT MCBRIDE BAKER MOORE SCOWCROFT MULLINS DARMAN PETERSMEYER BATES PORTER BRADY PROVOST BROMLEY ROSS CALIO SMITH DEMAREST TUTWILER FITZWATER ZOELLICK GRAY KAUFMAN BOSKIN HOLIDAY HORNER GROOMES MCGROARTY REMARKS: Please provide comments on the attached directly to Dan McGroarty, Rm. 122, x2930, with a copy to this office NO LATER THAN NOON, THURSDAY, SEPTEMBER 16. Thank you. Wed. RESPONSE: TO: DAN MCGROARTY September 16, PHILLIP 1992 D. BRADY The NSC staff concurs with the attached comments Assistant to the President and Staff Secretary CC: Phillip Brady for Brent Scowcroft Ext. 2702 McGroarty/Nix September 15, 1992 2:30 p.m. 2 SEP 15 P2: 49 [ga] PRESIDENTIAL REMARKS: GEORGIA HOMEBUILDERS SITE JONESBORO, GEORGIA SEPTEMBER 17, 1992 XX:00 A.M.?? Thank you ------- for those kind words -- and thanks, all of you, for this warm welcome. [Acknowledgements.] I'm pleased today to meet with you, because what you're building here at 1270 Larkwood Drive isn't just a house -- it's a little piece of the American Dream for the family who will call it home. // When you're done here, I'd like to pack you up and take you back to Washington. There's a certain House on the Hill back there that's in need of a little renovation. // You know Bob Vila's show: This Old House? Well, there's an old House back in Washington that hasn't been cleaned out for 38 years. // Let me tell you why I'm here today. Now that the Cold War is over, the defining challenge of the 90's is to win the peace - - to win the competition of the new global economy. // I'll give it to you straight: In the 21st Century, America must be not only a military superpower, but an economic superpower -- an export superpower. In this election, you'll hear two versions of how to do this: My opponent's answer is to look inward -- to pretend we can protect what we already have. Ours is to look forward -- open new markets, prepare our people to compete, restore the 2 social fabric, to save and invest -- so that, when it comes to the global competition -- America will win. // We need what I offer: An Agenda for American Renewal -- a strategy that reaches out to the world in a way that makes a difference right here in Clayton County -- in your neighborhoods, in your lives. We must build on the fundamentals of lower tax rates, limits on government spending, less red tape and regulation -- and more trade, more competition, to generate the growth that means more opportunity more jobs. And I think that in the 90's, government can add to this growth program by building opportunity and hope for individuals, empowering families and communities. My agenda for renewal is the blueprint for long-term growth. But near-term -- right now -- we all know we've got to do what we can to jumpstart our economy to put America back to work. // Back in January, more than 8 months ago, I challenged Congress to pass a new incentive: a $5000 dollar tax credit for all first-time homebuyers. I proposed that "home credit" for two reasons: First, because I knew that coming out of troubled times, housing is traditionally the sector that pulls this economy forward. I also wanted to help young families, the ones struggling to save for that first home. Because the American Dream, after all, really starts right here (gesture to homesite) -- with a home of your own. // 3 This year alone, my plan would have meant more than 270,000 new housing starts -- and 120,000 new jobs for carpenters and plumbers and plasterers. And for the average first-time homebuyer in Clayton County, that tax credit would have been the equivalent of eight month's worth of mortgage payments. Right here at 1270 Larkwood, it's like getting your down payment back - - and more. // My plan's still sitting / stalled by a liberal leadership that puts politics ahead of helping people. Why worry about helping put people into new homes -- and put you back to work? I guess they figure they've already got their own House -- and their own Senate, too. // Rule #1 in this business is: build from the ground up. Well, given what you've seen in Congress this year -- I think this is one time you ought to raise the roof. // The housing business is no different from a hundred other small businesses in America. I see small business as the engine of the American economy -- generating jobs and opportunity. My opponent sees small business as the goose that laid the golden egg. From $150 billion in new taxes / to a payroll tax for health care / to a training tax -- Bill Clinton wants to squeeze small business to bankroll big government. // Well I say: keep your hands off the housing industry. America's small businesses need relief -- relief from taxation / litigation / and over-regulation. // 4 You know, last month I was in Western Michigan, talking to a group of small business leaders. I talked to a guy who runs an asphalt paving company. He said, "Mr. President, government regulations are killing us." He made the point that when a regulation doesn't make sense, it's the worker who pays -- with his job. // Excessive regulation is a huge hidden cost in housing. The single most expensive item in a home these days isn't the sheetrock / or the drywall / it isn't all the lumber or even the land underneath. The single most expensive item in a new home these days is that piece of paper you stick inside the front window -- the Building Permit. // All the regulations it represents add up, on average, to as much as 25 percent of the cost of every house. That's why I've put a freeze on all new federal regulation - - to give businesses like yours a chance to breathe. // There are some good signs for the housing industry. Interest rates today are lower now than any time since 1973. {Add housing affordability index stat.} The last time a family could get a mortgage this low -- milk was 98 cents a gallon, or for you younger folks: Nolan Ryan was a rookie. // Let me tell you what lower interest rates mean to the American worker, the American family: Lower interest rates mean real money -- real savings for every American who buys a home for every family that refinances a mortgage. It means money in your pocket -- on average, as much as $2000 dollars a year -- 5 that instead of paying to the bank, you can put in the bank. Nationwide, that's like a $30 billion dollar tax cut for America's homeowners. // Now that's good news, but I'm not satisfied with good news when we could have even better. / Some studies show that three- quarters of all renters are ready to become buyers -- if they could muster up that downpayment. // If Congress had passed my plan when I asked them to -- if Congress had acted to help first- time homebuyers -- you'd see [half a million] more "Sold" signs on front lawns all across America. // And workers in the home-building area wouldn't be worried about pink slips -- they'd be too busy working overtime. // So today, let me make a suggestion: Come November 3rd, you can send me a Congress I can work with. // whyhold And if you say: Give me one good reason you'll get Congress to act -- I'll give you 150. That's the number of new faces we'll see next year in the Congress. Now -- I'll be candid. I whyney sharling Evayse open, seat want every last one of them to be Republican. / But whatever party they come from -- even if they were first elected before some of you were born -- they'll come back with a new appreciation for what you want: a complete set of instructions from the American people that it's time for Congress to change. And don't forget what happened the last time the Democrats controlled both ends of Pennsylvania Avenue: The days of malaise -- a Misery Index over 20 percent -- and mortgage rates so high it was a lock-out for millions of Americans who wanted to buy 6 their own home. We've seen what happens when the party of tax and spend operates without any checks and balances. // There's a better way -- a way we can do what's right for /what America. I've set out 13 specific initiatives -- 13 actions I'll werez challenge the new Congress to take in the first year of my second term. / November 3rd I'm looking for a mandate to move forward: To move forward on my Agenda for American Renewal -- an agenda that builds the stronger, more secure America we want for ourselves -- for our kids. // We've got to remember this fundamental fact: America is the envy of the world, not because its government is great -- but because its people are great. Because the American people are builders who dream, and dreamers who build. Thank you once again for this warm welcome -- and may God bless the United States of America. # # # EXECUTIVE OFFICE OF THE PRESIDENT CRUMO OFFICE OF MANAGEMENT AND BUDGET WASHINGTON, D.C. 20503 9-16-92 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 C. Murr Associate Director for Legislative Reference and Administration 350255SS Document No. WHITE HOUSE STAFFING MEMORANDUM Wed. 9/15/92 DATE: NOON, THURS., SEPT. ACTION/CONCURRENCE/COMMENT DUE BY: PRESIDENTIAL REMARKS: GEORGIA HOMEBUILDERS SITE JONESBORO, GA SUBJECT: SEPTEMBER 17, 1992 ACTION FYI ACTION FYI VICE PRESIDENT MCBRIDE BAKER MOORE SCOWCROFT MULLINS DARMAN PETERSMEYER BATES PORTER BRADY PROVOST BROMLEY ROSS CALIO SMITH DEMAREST TUTWILER FITZWATER S ZOELLICK GRAY KAUFMAN BOSKIN HOLIDAY > HORNER GROOMES MCGROARTY REMARKS: Please provide comments on the attached directly to Dan McGroarty, Rm. 122, x2930, with a copy to this office NO LATER THAN NOON, THURSDAY, SEPTEMBER 16. Thank you. Wed. RESPONSE: See comments PHILLIP D. BRADY Assistant to the President (R.Grody may respond ate) and Staff Secretary Ext. 2702 McGroarty/Nix September 15, 1992 2:30 p.m. 2 SEP 15 P2: 49 [ga] PRESIDENTIAL REMARKS: GEORGIA HOMEBUILDERS SITE JONESBORO, GEORGIA SEPTEMBER 17, 1992 XX:00 A.M.?? Thank you ------- for those kind words -- and thanks, all of you, for this warm welcome. [Acknowledgements.] I'm pleased today to meet with you, because what you're building here at 1270 Larkwood Drive isn't just a house -- it's a little piece of the American Dream for the family who will call it home. // When you're done here, I'd like to pack you up and take you back to Washington. There's a certain House on the Hill back there that's in need of a little renovation. // You know Bob Vila's show: This Old House? Well, there's an old House back in Washington that hasn't been cleaned out for 38 years. // Let me tell you why I'm here today. Now that the Cold War is over, the defining challenge of the 90's is to win the peace - - to win the competition of the new global economy. // I'll give it to you straight: In the 21st Century, America must be not only a military superpower, but an economic superpower -- an export superpower. In this election, you'll hear two versions of how to do this: My opponent's answer is to look inward -- to pretend we can protect what we already have. Ours is to look forward -- open new markets, prepare our people to compete, restore the 2 social fabric, to save and invest -- so that, when it comes to the global competition -- America will win. // We need what I offer: An Agenda for American Renewal -- a strategy that reaches out to the world in a way that makes a difference right here in Clayton County -- in your neighborhoods, in your lives. We must build on the fundamentals of lower tax rates, limits on government spending, less red tape and regulation -- and more trade, more competition, to generate the growth that means more opportunity more jobs. And I think that in the 90's, government can add to this growth program by building opportunity and hope for individuals, empowering families and communities. My agenda for renewal is the blueprint for long-term growth. But near-term -- right now -- we all know we've got to do what we can to jumpstart our economy to put America back to work. // Back in January, more than 8 months ago, I challenged Congress to pass a new incentive: a $5000 dollar tax credit for all first-time homebuyers. I proposed that "home credit" for two reasons: First, because I knew that coming out of troubled times, housing is traditionally the sector that pulls this economy forward. I also wanted to help young families, the ones struggling to save for that first home. Because the American Dream, after all, really starts right here (gesture to homesite) -- with a home of your own. // 3 This year alone, my plan would have meant more than 270,000 new housing starts -- and 120,000 new jobs for carpenters and plumbers and plasterers. And for the average first-time homebuyer in Clayton County, that tax credit would have been the equivalent of eight month's worth of mortgage payments. Right here at 1270 Larkwood, it's like getting your down payment back - - and more. // My plan's still sitting / stalled by a liberal leadership that puts politics ahead of helping people. Why worry about helping put people into new homes -- and put you back to work? I guess they figure they've already got their own House -- and their own Senate, too. // Rule #1 in this business is: build from the ground up. Well, given what you've seen in Congress this year -- I think this is one time you ought to raise the roof. // The housing business is no different from a hundred other small businesses in America. I see small business as the engine of the American economy -- generating jobs and opportunity. My opponent sees small business as the goose that laid the golden egg. From $150 billion in new taxes / to a payroll tax for health care / to a training tax -- Bill Clinton wants to squeeze small business to bankroll big government. // Well I say: keep your hands off the housing industry. America's small businesses need relief -- relief from taxation / litigation / and over-regulation. // 4 You know, last month I was in Western Michigan, talking to a group of small business leaders. I talked to a guy who runs an asphalt paving company. He said, "Mr. President, government regulations are killing us." He made the point that when a regulation doesn't make sense, it's the worker who pays -- with his job. // Excessive regulation is a huge hidden cost in housing. The single most expensive item in a home these days isn't the sheetrock / or the drywall / it isn't all the lumber or even the land underneath. The single most expensive item in a new home these days is that piece of paper you stick inside the front window -- the Building Permit. // All the regulations it represents add up, on average, to as much as 25 percent of the cost of every house. That's why I've put a freeze on all new federal regulation - - to give businesses like yours a chance to breathe. // There are some good signs for the housing industry. Interest rates today are lower now than any time since 1973. {Add housing affordability index stat.} The last time a family could get a mortgage this low -- milk was 98 cents a gallon, or for you younger folks: Nolan Ryan was a rookie. // Let me tell you what lower interest rates mean to the American worker, the American family: Lower interest rates mean real money -- real savings for every American who buys a home for every family that refinances a mortgage. It means money in your pocket on average, as much as $2000 dollars a year -- Note: Most resulations dealins with housing + are imposed by State and local sovernments, 5 that instead of paying to the bank, you can put in the bank. Nationwide, that's like a $30 billion dollar tax cut for America's homeowners. // Now that's good news, but I'm not satisfied with good news when we could have even better. / Some studies show that three- quarters of all renters are ready to become buyers -- if they could muster up that downpayment. // If Congress had passed my plan when I asked them to -- if Congress had acted to help first- time homebuyers -- you'd see [half a million] more "Sold" signs on front lawns all across America. // And workers in the home-building area wouldn't be worried about pink slips -- they'd be too busy working overtime. // So today, let me make a suggestion: Come November 3rd, you can send me a Congress I can work with. // And if you say: Give me one good reason you'll get Congress to act -- I'll give you 150. That's the number of new faces we'll see next year in the Congress. Now -- I'll be candid. I want every last one of them to be Republican. / But whatever party they come from -- even if they were first elected before some of you were born -- they'll come back with a new appreciation for what you want: a complete set of instructions from the American people that it's time for Congress to change. And don't forget what happened the last time the Democrats controlled both ends of Pennsylvania Avenue: The days of malaise -- a Misery Index over 20 percent -- and mortgage rates so high it was a lock-out for millions of Americans who wanted to buy 6 their own home. We've seen what happens when the party of tax and spend operates without any checks and balances. // There's a better way -- a way we can do what's right for America. I've set out 13 specific initiatives -- 13 actions I'll challenge the new Congress to take in the first year of my second term. / November 3rd I'm looking for a mandate to move forward: To move forward on my Agenda for American Renewal -- an agenda that builds the stronger, more secure America we want for ourselves -- for our kids. // We've got to remember this fundamental fact: America is the envy of the world, not because its government is great -- but because its people are great. Because the American people are builders who dream, and dreamers who build. Thank you once again for this warm welcome -- and may God bless the United States of America. # # # THE WHITE HOUSE WASHINGTON 92 SEP 16 P September 2 16, 1992 MEMORANDUM FOR DAN McGROARTY FROM: ROGER B. PORTER RBP SUBJECT: Presidential Remarks: Georgia Homebuilders Site 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 350255SS Document No. DMH WHITE HOUSE STAFFING MEMORANDUM -TA FBWed. 9/15/92 DATE: ACTION/CONCURRENCE/COMMENT DUE BY: NOON, THURS., SEPT. 1 PRESIDENTIAL REMARKS: GEORGIA HOMEBUILDERS SITE JONESBORO, GA SUBJECT: SEPTEMBER 17, 1992 ACTION FYI ACTION FYI VICE PRESIDENT MCBRIDE BAKER MOORE SCOWCROFT MULLINS DARMAN PETERSMEYER BATES PORTER BRADY PROVOST BROMLEY ROSS CALIO SMITH DEMAREST TUTWILER FITZWATER ZOELLICK GRAY KAUFMAN BOSKIN HOLIDAY HORNER GROOMES MCGROARTY REMARKS: Please provide comments on the attached directly to Dan McGroarty, Rm. 122, x2930, with a copy to this office NO LATER THAN NOON, THURSDAY, SEPTEMBER 16. Thank you. Wed. RESPONSE: PHILLIP D. BRADY Assistant to the President and Staff Secretary Ext. 2702 McGroarty/Nix September 15, 1992 2:30 p.m. 2 SEP 15 P2: 49 [ga] PRESIDENTIAL REMARKS: GEORGIA HOMEBUILDERS SITE JONESBORO, GEORGIA SEPTEMBER 17, 1992 XX:00 A.M.?? Thank you ------- for those kind words -- and thanks, all of you, for this warm welcome. [Acknowledgements.] I'm pleased today to meet with you, because what you're building here at 1270 Larkwood Drive isn't just a house -- it's a little piece of the American Dream for the family who will call it home. // When you're done here, I'd like to pack you up and take you back to Washington. There's a certain House on the Hill back there that's in need of a little renovation. // You know Bob Vila's show: This Old House? Well, there's an old House back in Washington that hasn't been cleaned out for 38 years. // Let me tell you why I'm here today. Now that the Cold War is over, the defining challenge of the 90's is to win the peace - - to win the competition of the new global economy. // I'll give it to you straight: In the 21st Century, America must be not only a military superpower, but an economic superpower -- an export superpower. In this election, you'll hear two versions of how to do this: My opponent's answer is to look inward -- to pretend we can protect what we already have. Ours is to look forward -- open new markets, prepare our people to compete, restore the 2 social fabric, to save and invest -- so that, when it comes to the global competition -- America will win. 11 We need what I offer: An Agenda for American Renewal -- a strategy that reaches out to the world in a way that makes a difference right here in Clayton County -- in your neighborhoods, in your lives. We must build on the fundamentals of lower tax rates, limits on government spending, less red tape and regulation -- and more trade, more competition, to generate the growth that means more opportunity more jobs. And I think that in the 90's, government can add to this growth program by building opportunity and hope for individuals, empowering families and communities. A My agenda for renewal is the blueprint for long-term growth. But near-term -- right now -- we all know we've got to de what we T jumpstart our economy AND can to put America back to work. // Back in January, more than 8 months ago, I challenged Congress to pass a new incentive: a $5000 dollar tax credit for all first-time homebuyers. I proposed that "home credit" for two reasons: First, because I knew that coming out of troubled times, housing is traditionally the sector that pulls this economy forward. I also wanted to help young families, the ones struggling to save for that first home. Because the American Dream, after all, really starts right here (gesture to homesite) -- with a home of your own. // 3 This year alone, my plan would have meant more than 270,000 new housing starts -- and 120,000 new jobs for carpenters and plumbers and plasterers. And for the average first-time homebuyer in Clayton County, that tax credit would have been the equivalent of eight month's worth of mortgage payments. Right here at 1270 Larkwood, it's like getting your down payment back - - and more. // BLOCKED My plan's still sitting / stalled by a liberal leadership that puts politics ahead of helping people. Why worry about helping put people into new homes -- and put you back to work? I guess they figure they've already got their own House -- and their own Senate, too. // Rule #1 in this business is: build from the ground up. Well, given what you've seen in Congress this year -- I think this is one time you ought to raise the roof. // The housing business is no different from a hundred other small businesses in America. I see small business as the engine of the American economy -- generating jobs and opportunity. My opponent sees small business as the goose that laid the golden egg. From $150 billion in new taxes / to a payroll tax for health care / to a training tax -- Bill Clinton wants to squeeze small business to bankroll big government. // Well I say: keep your hands off the housing industry. America's small businesses need relief -- relief from taxation / litigation / and over-regulation. / / 4 You know, last month I was in Western Michigan, talking to a group of small business leaders. I talked to a guy who runs an asphalt paving company. He said, "Mr. President, government regulations are killing us." He made the point that when a regulation doesn't make sense, it's the worker who pays -- with his job. // Excessive regulation is a huge hidden cost in housing. The single most expensive item in a home these days isn't the sheetrock / or the drywall / it isn't all the lumber or even the land underneath. The single most expensive item in a new home these days is that piece of paper you stick inside the front window -- the Building Permit. // All the regulations it represents add up, on average, to as much as 25 percent of the cost of every house. S That's why I've put a freeze on all new federal regulation - - to give businesses like yours a chance to breathe. // There are some good signs for the housing industry. Interest rates today are lower now than any time since 1973. {Add housing affordability index stat.} The last time a family could get a mortgage this low -- milk was 98 cents a gallon, or for you younger folks: Nolan Ryan was a rookie. // Let me tell you what lower interest rates mean to the American worker, the American family: Lower interest rates mean real money -- real savings for every American who buys a home for every family that refinances a mortgage. It means money in your pocket -- on average, as much as $2000 dollars a year -- 5 that instead of paying to the bank, you can put in the bank. Nationwide, that's like a $30 billion dollar tax cut for America's homeowners. // Now that's good news, but I'm not satisfied with good news Do when we could have even better. / Some studies show that three- quarters of all renters are ready to become buyers -- if they could muster up that downpayment. 11 If Congress had passed my plan when I asked them to -- if Congress had acted to help first- time homebuyers -- you'd see [half a million] more "Sold" signs on front lawns all across America. // And workers in the home-building area wouldn't be worried about pink slips -- they'd be too busy working overtime. // So today, let me make a suggestion: Come November 3rd, you can send me a Congress I can work with. // And if you say: Give me one good reason you'll get Congress to act -- I'll give you 150. That's the number of new faces RE LIKELY TO we'll see next year in the Congress. Now -- I'll be candid. I want every last one of them to be Republican. / But whatever SOME INCUMBENTS IHAT WERE party they come from -- even if they were first elected before some of you were born -- they'll come back with a new appreciation for what you want: a complete set of instructions from the American people that it's time for Congress to change. And don't forget what happened the last time the Democrats controlled both ends of Pennsylvania Avenue: The days of malaise -- a Misery Index over 20 percent -- and mortgage rates so high it was a lock-out for millions of Americans who wanted to buy 6 their own home. We've seen what happens when the party of tax and spend operates without any checks and balances. // There's a better way -- a way we can do what's right for America. I've set out 13 specific initiatives -- 13 actions I'll challenge the new Congress to take in the first year of my second term. / November 3rd I'm looking for a mandate to move forward: To move forward on my Agenda for American Renewal -- an agenda that builds the stronger, more secure America we want for ourselves -- for our kids. // We've got to remember this fundamental fact: America is the envy of the world, not because its government is great -- but because its people are great. Because the American people are builders who dream, and dreamers who build. Thank you once again for this warm welcome -- and may God bless the United States of America. # # # 9/15 1:40pm FORR2 comment 9/15 TO Dam M McGroarty/Nix 1pm September 15, 1992 92 SEP 15 Find 12:30 p.m. cDf [ga] PRESIDENTIAL REMARKS: GEORGIA HOMEBUILDERS SITE JONESBORO, GEORGIA Thurs SEPTEMBER 17, 1992 XX:00 A.M. ?? Thank you ------- for those kind words -- and thanks, all of you, for this warm welcome. [Acknowledgements.] I'm pleased today to meet with you, because what you're building here at 1270 Larkwood Drive isn't just a house -- it's a little piece of the American Dream for the family who will call it home. // When you're done here, I'd like to pack you up and take you back to Washington. There's a certain House on the Hill back there that's in need of a little renovation. // You know Bob Vila's show: This Old House? Well, there's an old House back in Washington that hasn't been cleaned out for 38 years. // Let me tell you why I'm here today. Now that the Cold War is over, the defining challenge of the 90's is to win the peace - - to win the competition of the new global economy. // I'll give it to you straight: In the 21st Century, America must be not only a military superpower, but an economic superpower -- an export superpower. In this election, you'll hear two versions of how to do this: My opponent's answer is to look inward -- to pretend we can protect what we already have. Ours is to look forward -- open new markets, prepare our people to compete, restore the 2 social fabric, to save and invest -- so that, when it comes to the global competition -- America will win. // We need what I offer: An Agenda for American Renewal -- a strategy that reaches out to the world in a way that makes a difference right here in Clayton County -- in your neighborhoods, in your lives. We must build on the fundamentals of lower tax rates, limits on government spending, less red tape and regulation -- and more trade, more competition, to generate the growth that means more opportunity more jobs. And I think that in the 90's, government can add to this growth program by building opportunity and hope for individuals, empowering families and communities. My agenda for renewal is the blueprint for long-term growth. But near-term -- right now -- we all know we've got to do what we can to jumpstart our economy to put America back to work. // Back in January, more than 8 months ago, I challenged Congress to pass a new incentive: a $5000 dollar tax credit for all first-time homebuyers. I proposed that "home credit" for two reasons: First, because I knew that coming out of troubled times, housing is traditionally the sector that pulls this economy forward. I also wanted to help young families, the ones struggling to save for that first home. Because the American Dream, after all, really starts right here (gesture to homesite) -- with a home of your own. // 3 This year alone, my plan would have meant more than 270,000 new housing starts -- and 120,000 new jobs for carpenters and plumbers and plasterers. And for the average first-time homebuyer in Clayton County, that tax credit would have been the equivalent of eight month's worth of mortgage payments. Right here at 1270 Larkwood, it's like getting your down payment back - - and more. // My plan's still sitting / stalled by a liberal leadership that puts politics ahead of helping people. Why worry about helping put people into new homes -- and put you back to work? I guess they figure they've already got their own House -- and their own Senate, too. // Rule #1 in this business is: build from the ground up. Well, given what you've seen in Congress this year -- I think this is one time you ought to raise the roof. // The housing business is no different from a hundred other small businesses in America. I see small business as the engine of the American economy -- generating jobs and opportunity. My opponent sees small business as the goose that laid the golden egg. From a payroll tax for health care / to a training tax / to $150 billion in new income taxes -- Bill Clinton wants to squeeze small business to bankroll big government. // Well I say: keep your hands off the housing industry. America's small businesses need relief -- relief from taxation / litigation / and over-regulation. // all income takes? 4 You know, last month I was in Western Michigan, talking to a group of small business leaders. I talked to a guy who runs an asphalt paving company. He said, "Mr. President, government regulations are killing us." He made the point that when a regulation doesn't make sense, it's the worker who pays -- with his job. // Excessive regulation is a huge hidden cost in housing. The single most expensive item in a home these days isn't the sheetrock / or the drywall / it isn't all the lumber or even the land underneath. The single most expensive item in a new home these days is that piece of paper you stick inside the front window -- the Building Permit. // All the regulations it represents add up, on average, to as much as 25 percent of the cost of every house. That's why [housing-specific relief/NIMBY?] And it's why I've put a freeze on all new federal regulation -- to give use interest businesses like yours a chance to breathe. // votes not inft There are some good signs for the housing industry. We've worked to keep inflation under control -- and the market gotten the message. Interest rates today are lower now than any time Mention howing holder since 1973. The last time a family could get a mortage this low -- milk was 98 cents cents a gallon, or for you younger folks: Nolan Ryan was a rookie. // Cotall-time index Let me tell you what lower interest rates mean to the American worker, the American family: Lower interest rates mean real money -- real savings for every American who buys a home ... 5 for every family that refinances a mortgage. It means money in your pocket -- on average, as much as $2000 dollars a year -- that instead of paying to the bank, you can put in the bank. Nationwide, that's like a $30 billion dollar tax cut for America's homeowners. // /word' Now that's good news, but I'm not satisfied with good news when we could have even better. / Some studies show that three- quarters of all renters are ready to become buyers -- if they could muster up that down payment. // If Congress had passed my plan when I asked them to -- if Congress had acted to help first- time homebuyers -- you'd see [half a million] more "Sold" signs on front lawns all across America. // And workers in the home-building area wouldn't be worried about pink slips -- they'd be too busy working overtime. // So today, let me make a suggestion: Come November 3rd, you can send me a Congress I can work with. // And if you say: Give me one good reason you'll get Congress to act -- I'll give you 150. That's the number of new faces we'll see next year in the Congress. Now -- I'll be candid. I want every last one of them to be Republican. / But whatever party they come from -- even if they were first elected before some of you were born -- they'll come back with a new appreciation for what you want: a complete set of instructions from the American people that it's time for Congress to change. And don't forget what happened the last time the Democrats controlled both ends of Pennsylvania Avenue: The days of malaise Link to his Agenda: Closed with Battims I wanted to accomption my /styea five a waple of exs. Want a mardate 6 -- a Misery Index over 20 percent -- and mortgage rates so high it was a lock-out for millions of Americans who wanted to buy their own home. We've seen what happens when the party of tax and spend operates without any checks and balances. // So when the new Congress comes to town -- I'll be there -- - ready to do the will of the American people. Ready to move on my Agenda for American Renewal -- an agenda that builds the stronger, more secure America we want for ourselves -- for our kids. // We've got to remember this fundamental fact: America is the envy of the world, not because its government is great -- but because its people are great. Because the American people are builders who dream, and dreamers who build. Thank you once again for this warm welcome -- and may God bless the United States of America. # # # Dan -- Per HUD: Housing affordability index as of second quarter ending in June: 121.2 In 1989, yearly average 108.1 Best comparison: In 1981, yearly average 68.9 RE PAGE 5 if Congress had acted to help first-time homebuyers -- you'd see nearly 400,000 more "Sold" signs on front lawns all across America. // [385,000 is figure from HUD.] 350255SS Document No. DMH WHITE HOUSE STAFFING MEMORANDUM -TA 92 SEP 16 P12: 04 TBWed. DATE: 9/15/92 NOON, THURS., SEPT.1 ACTION/CONCURRENCE/COMMENT DUE BY: PRESIDENTIAL REMARKS: GEORGIA HOMEBUILDERS SITE JONESBORO, GA SUBJECT: SEPTEMBER 17, 1992 ACTION FYI ACTION FYI VICE PRESIDENT MCBRIDE BAKER MOORE SCOWCROFT MULLINS DARMAN PETERSMEYER BATES PORTER BRADY PROVOST BROMLEY ROSS CALIO SMITH DEMAREST TUTWILER FITZWATER ZOELLICK GRAY KAUFMAN BOSKIN HOLIDAY HORNER GROOMES MCGROARTY REMARKS: Please provide comments on the attached directly to Dan McGroarty, Rm. 122, x2930, with a copy to this office NO LATER THAN NOON, THURSDAY, SEPTEMBER 16. Thank you. We d. RESPONSE: PHILLIP D. BRADY Assistant to the President and Staff Secretary Ext. 2702 McGroarty/Nix September 15, 1992 2:30 p.m. 2 SEP 15 P2: 49 [ga] PRESIDENTIAL REMARKS: GEORGIA HOMEBUILDERS SITE JONESBORO, GEORGIA SEPTEMBER 17, 1992 XX:00 A.M.?? Thank you ------- for those kind words -- and thanks, all of you, for this warm welcome. [Acknowledgements.] I'm pleased today to meet with you, because what you're building here at 1270 Larkwood Drive isn't just a house -- it's a little piece of the American Dream for the family who will call it home. // When you're done here, I'd like to pack you up and take you back to Washington. There's a certain House on the Hill back there that's in need of a little renovation. 11 You know Bob Vila's show: This old House? Well, there's an old House back in Washington that hasn't been cleaned out for 38 years. 11 Let me tell you why I'm here today. Now that the Cold War is over, the defining challenge of the 90's is to win the peace - - to win the competition of the new global economy. 11 I'll give it to you straight: In the 21st Century, America must be not only a military superpower, but an economic superpower -- an export superpower. In this election, you'll hear two versions of how to do this: My opponent's answer is to look inward -- to pretend we can protect what we already have. Ours is to look forward -- open new markets, prepare our people to compete, restore the 2 social fabric, to save and invest -- so that, when it comes to the global competition -- America will win. // We need what I offer: An Agenda for American Renewal -- a strategy that reaches out to the world in a way that makes a difference right here in Clayton County -- in your neighborhoods, in your lives. We must build on the fundamentals of lower tax rates, limits on government spending, less red tape and regulation -- and more trade, more competition, to generate the growth that means more opportunity more jobs. And I think that in the 90's, government can add to this growth program by building opportunity and hope for individuals, empowering families and communities. A My agenda for renewal is the blueprint for long-term growth. But near-term -- right now -- we all know we've got to de what can to T jumpstart our economy AND to put America back to work. // Back in January, more than 8 months ago, I challenged Congress to pass a new incentive: a $5000 dollar tax credit for all first-time homebuyers. I proposed that "home credit" for two reasons: First, because I knew that coming out of troubled times, housing is traditionally the sector that pulls this economy forward. I also wanted to help young families, the ones struggling to save for that first home. Because the American Dream, after all, really starts right here (gesture to homesite) -- with a home of your own. // 3 This year alone, my plan would have meant more than 270,000 new housing starts -- and 120,000 new jobs for carpenters and ) plumbers and plasterers. And for the average first-time homebuyer in Clayton County, that tax credit would have been the equivalent of eight month's worth of mortgage payments. Right here at 1270 Larkwood, it's like getting your down payment back - - and more. // BLOCKED My plan's still sitting / stalled by a liberal leadership that puts politics ahead of helping people. Why worry about helping put people into new homes -- and put you back to work? I guess they figure they've already got their own House -- and their own Senate, too. // Rule #1 in this business is: build from the ground up. Well, given what you've seen in Congress this year -- I think this is one time you ought to raise the roof. // The housing business is no different from a hundred other small businesses in America. I see small business as the engine of the American economy -- generating jobs and opportunity. My opponent sees small business as the goose that laid the golden egg. From $150 billion in new taxes / to a payroll tax for health care / to a training tax -- Bill Clinton wants to squeeze small business to bankroll big government. // Well I say: keep your hands off the housing industry. America's small businesses need relief -- relief from taxation / litigation / and over-regulation. // 4 You know, last month I was in Western Michigan, talking to a group of small business leaders. I talked to a guy who runs an asphalt paving company. He said, "Mr. President, government regulations are killing us." He made the point that when a regulation doesn't make sense, it's the worker who pays -- with his job. // Excessive regulation is a huge hidden cost in housing. The single most expensive item in a home these days isn't the sheetrock / or the drywall / it isn't all the lumber or even the land underneath. The single most expensive item in a new home these days is that piece of paper you stick inside the front window -- the Building Permit. // All the regulations it represents add up, on average, to as much as 25 percent of the cost of every house. S That's why I've put a freeze on all new federal regulation - - to give businesses like yours a chance to breathe. // There are some good signs for the housing industry. Interest rates today are lower now than any time since 1973. {Add housing affordability index stat.} The last time a family could get a mortgage this low -- milk was 98 cents a gallon, or for you younger folks: Nolan Ryan was a rookie. // Let me tell you what lower interest rates mean to the American worker, the American family: Lower interest rates mean real money -- real savings for every American who buys a home ... for every family that refinances a mortgage. It means money in your pocket -- on average, as much as $2000 dollars a year -- 5 that instead of paying to the bank, you can put in the bank. Nationwide, that's like a $30 billion dollar tax cut for America's homeowners. // Now that's good news, but I'm not satisfied with good news Do when we could have even better. / Some studies show that three- quarters of all renters are ready to become buyers -- if they could muster up that downpayment. // If Congress had passed my plan when I asked them to -- if Congress had acted to help first- time homebuyers -- you'd see [half a million] more "Sold" signs on front lawns all across America. // And workers in the home-building area wouldn't be worried about pink slips -- they'd be too busy working overtime. 11 So today, let me make a suggestion: Come November 3rd, you can send me a Congress I can work with. 11 And if you say: Give me one good reason you'll get Congress to act -- I'll give you 150. That's the number of new faces RE LIKELY TO we'll see next year in the Congress. Now -- I'll be candid. I want every last one of them to be Republican. / But whatever SOME INCUMBENTS DAT WERE party they come from -- even if they were first elected before some of you were born -- they'll come back with a new appreciation for what you want: a complete set of instructions from the American people that it's time for Congress to change. And don't forget what happened the last time the Democrats controlled both ends of Pennsylvania Avenue: The days of malaise -- a Misery Index over 20 percent -- and mortgage rates so high it was a lock-out for millions of Americans who wanted to buy 6 their own home. We've seen what happens when the party of tax and spend operates without any checks and balances. // There's a better way -- a way we can do what's right for America. I've set out 13 specific initiatives -- 13 actions I'll challenge the new Congress to take in the first year of my second term. / November 3rd I'm looking for a mandate to move forward: To move forward on my Agenda for American Renewal -- an agenda that builds the stronger, more secure America we want for ourselves -- for our kids. // We've got to remember this fundamental fact: America is the envy of the world, not because its government is great -- but because its people are great. Because the American people are builders who dream, and dreamers who build. Thank you once again for this warm welcome -- and may God bless the United States of America. # # # Drew Lyon - CEA 92 5147 SEP 15 McGroarty/Nix September 15, 1992 P5: 2:30 p.m. [ga] PRESIDENTIAL REMARKS: GEORGIA HOMEBUILDERS SITE JONESBORO, GEORGIA SEPTEMBER 17, 1992 XX:00 A.M.?? Michela- which are facts Thank you ------- for those kind words -- and thanks, all of you, for this warm welcome. [Acknowledgements.] I'm pleased today to meet with you, because what you're building here at 1270 Larkwood Drive isn't just a house -- it's a little piece of the American Dream for the family who will call it home. / / When you're done here, I'd like to pack you up and take you back to Washington. There's a certain House on the Hill back there that's in need of a little renovation. // You know Bob Vila's show: This Old House? Well, there's an old House back in Washington that hasn't been cleaned out for 38 years. // Let me tell you why I'm here today. Now that the Cold War is over, the defining challenge of the 90's is to win the peace - - to win the competition of the new global economy. // I'll give it to you straight: In the 21st Century, America must be not only a military superpower, but an economic superpower -- an export superpower. In this election, you'll hear two versions of how to do this: My opponent's answer is to look inward -- to pretend we can protect what we already have. Ours is to look forward -- open new markets, prepare our people to compete, restore the 2 social fabric, to save and invest -- so that, when it comes to the global competition -- America will win. // We need what I offer: An Agenda for American Renewal -- a strategy that reaches out to the world in a way that makes a difference right here in Clayton County -- in your neighborhoods, in your lives. We must build on the fundamentals of lower tax rates, limits on government spending, less red tape and regulation -- and more trade, more competition, to generate the growth that means more opportunity more jobs. And I think that in the 90's, government can add to this growth program by building opportunity and hope for individuals, empowering families and communities. My agenda for renewal is the blueprint for long-term growth. But near-term -- right now -- we all know we've got to do what we can to jumpstart our economy ... to put America back to work. // Back in January, more than 8 months ago, I challenged Congress to pass a new incentive: a $5000 dollar tax credit for all first-time homebuyers. I proposed that "home credit" for two reasons: First, because I knew that coming out of troubled times, housing is traditionally the sector that pulls this economy forward. I also wanted to help young families, the ones struggling to save for that first home. Because the American Dream, after all, really starts right here (gesture to homesite) -- with a home of your own. // 3 120,000 This year alone, my plan would have meant more than 270,000 220,000 in the economy including, new housing starts -- and 120,000 new jobs for carpenters and plumbers and plasterers. And for the average first-time homebuyer in Clayton County, that tax credit would have been the equivalent of eight month's worth of mortgage payments. Right here at 1270 Larkwood, it's like getting your down payment back - - and more. // My plan's still sitting / stalled by a liberal leadership that puts politics ahead of helping people. Why worry about helping put people into new homes -- and put you back to work? I guess they figure they've already got their own House -- and their own Senate, too. // Rule #1 in this business is: build from the ground up. Well, given what you've seen in Congress this year -- I think this is one time you ought to raise the roof. // The housing business is no different from a hundred other small businesses in America. I see small business as the engine of the American economy -- generating jobs and opportunity. My opponent sees small business as the goose that laid the golden egg. From $150 billion in new taxes / to a payroll tax for health care / to a training tax -- Bill Clinton wants to squeeze small business to bankroll big government. // Well I say: keep your hands off the housing industry. America's small businesses need relief -- relief from taxation / litigation / and over-regulation. // 4 You know, last month I was in Western Michigan, talking to a group of small business leaders. I talked to a guy who runs an asphalt paving company. He said, "Mr. President, government regulations are killing us." He made the point that when a regulation doesn't make sense, it's the worker who pays -- with his job. // Excessive regulation is a huge hidden cost in housing. The single most expensive item in a home these days isn't the sheetrock / or the drywall / it isn't all the lumber or even the land underneath. The single most expensive item in a new home these days is that piece of paper you stick inside the front window -- the Building Permit. // All the regulations it represents add up, on average, to as much as 25 percent of the uniticting cost of every house. That's why I've put a freeze on all new federal regulation - - to give businesses like yours a chance to breathe. // There are some good signs for the housing industry. Interest rates today are lower now than any time since 1973. {Add housing affordability index stat.} The last time a family could get a mortgage this low -- milk was 98 cents a gallon, or for you younger folks: Nolan Ryan was a rookie. // Let me tell you what lower interest rates mean to the American worker, the American family: Lower interest rates mean real money -- real savings for every American who buys a home for every family that refinances a mortgage. It means money in your pocket -- on average, as much as $2000 dollars a year -- wnflicting either average of maximum 5 that instead of paying to the bank, you can put in the bank. cannot verify Nationwide, that's like a $30 billion dollar tax cut for America's homeowners. // Now that's good news, but I'm not satisfied with good news when we could have even better. / Some studies show that three- quarters of all renters are ready to become buyers -- if they could muster up that downpayment. // If Congress had passed my plan when I asked them to -- if Congress had acted to help first- time homebuyers -- you'd see [half a million] more "Sold" signs on front lawns all across America. // And workers in the home-building area wouldn't be worried about pink slips -- they'd be too busy working overtime. // So today, let me make a suggestion: Come November 3rd, you can send me a Congress I can work with. // And if you say: Give me one good reason you'll get Congress to act -- I'll give you 150. That's the number of new faces we'll see next year in the Congress. Now -- I'll be candid. I want every last one of them to be Republican. / But whatever party they come from -- even if they were first elected before some of you were born -- they'll come back with a new appreciation for what you want: a complete set of instructions from the American people that it's time for Congress to change. And don't forget what happened the last time the Democrats controlled both ends of Pennsylvania Avenue: The days of malaise -- a Misery Index over 20 percent -- and mortgage rates so high it was a lock-out for millions of Americans who wanted to buy 6 their own home. We've seen what happens when the party of tax and spend operates without any checks and balances. // There's a better way -- a way we can do what's right for America. I've set out 13 specific initiatives -- 13 actions I'll challenge the new Congress to take in the first year of my second term. / November 3rd I'm looking for a mandate to move forward: To move forward on my Agenda for American Renewal -- an agenda that builds the stronger, more secure America we want for ourselves -- for our kids. // We've got to remember this fundamental fact: America is the envy of the world, not because its government is great -- but because its people are great. Because the American people are builders who dream, and dreamers who build. Thank you once again for this warm welcome -- and may God bless the United States of America. # # # THE WHITE HOUSE WASHINGTON 92 SEP 16 P12:22 September 16, 1992 MEMORANDUM FOR DAN MCGROARTY SPECIAL ASSISTANT TO THE PRESIDENT FOR COMMUNICATION FROM: misfer GREGORY S. WALDEN ASSOCIATE COUNSEL TO THE PRESIDENT SUBJECT: Presidential Remarks: Georgia Homebuilders Site Jonesboro, GA At your request, the Counsel's office has reviewed the above- referenced matter. No legal objection. See comment on page four. We must avoid overstating the position. Attachment CC:' Phillip D. Brady 4 You know, last month I was in Western Michigan, talking to a group of small business leaders. I talked to a guy who runs an asphalt paving company. He said, "Mr. President, government regulations are killing us." He made the point that when a regulation doesn't make sense, it's the worker who pays -- with his job. // Excessive regulation is a huge hidden cost in housing. The single most expensive item in a home these days isn't the sheetrock / or the drywall / it isn't all the lumber or even the land underneath. The single most expensive item in a new home these days is that piece of paper you stick inside the front window -- the Building Permit. // All the regulations it represents add up, on average, to as much as 25 percent of the delek cost of every house. I That's why I've put a freeze on all new federal regulation all - to give businesses like yours a chance to breathe. // There are some good signs for the housing industry. Interest rates today are lower now than any time since 1973. {Add housing affordability index stat.} The last time a family could get a mortgage this low -- milk was 98 cents a gallon, or for you younger folks: Nolan Ryan was a rookie. // Let me tell you what lower interest rates mean to the American worker, the American family: Lower interest rates mean real money -- real savings for every American who buys a home ... for every family that refinances a mortgage. It means money in your pocket -- on average, as much as $2000 dollars a year -- OK n/2 C hayes 350255SS Document No. AC WHITE HOUSE STAFFING MEMORANDUM 9/15/92 92 SEP 16 P12. 23 Wed. DATE: NOON, THURS., SEPT.] ACTION/CONCURRENCE/COMMENT DUE BY: PRESIDENTIAL REMARKS: GEORGIA HOMEBUILDERS SITE JONESBORO, GA SUBJECT: SEPTEMBER 17, 1992 ACTION FYI ACTION FYI VICE PRESIDENT MCBRIDE BAKER MOORE SCOWCROFT MULLINS DARMAN PETERSMEYER BATES PORTER BRADY PROVOST BROMLEY ROSS CALIO SMITH DEMAREST TUTWILER FITZWATER ZOELLICK GRAY KAUFMAN BOSKIN HOLIDAY HORNER GROOMES MCGROARTY REMARKS: Please provide comments on the attached directly to Dan McGroarty, Rm. 122, x2930, with a copy to this office NO LATER THAN NOON, THURSDAY, SEPTEMBER 16. Thank you. wed, RESPONSE: PHILLIP D. BRADY Assistant to the President and Staff Secretary Ext. 2702 McGroarty/Nix September 15, 1992 2:30 p.m. 2 SEP 15 P2: 49 [ga] PRESIDENTIAL REMARKS: GEORGIA HOMEBUILDERS SITE JONESBORO, GEORGIA SEPTEMBER 17, 1992 XX:00 A.M.?? Thank you ------- for those kind words -- and thanks, all of you, for this warm welcome. [Acknowledgements.] I'm pleased today to meet with you, because what you're building here at 1270 Larkwood Drive isn't just a house -- it's a little piece of the American Dream for the family who will call it home. // When you're done here, I'd like to pack you up and take you back to Washington. There's a certain House on the Hill back there that's in need of a little renovation. // You know Bob Vila's show: This Old House? Well, there's an old House back in Washington that hasn't been cleaned out for 38 years. // Let me tell you why I'm here today. Now that the Cold War is over, the defining challenge of the 90's is to win the peace - - to win the competition of the new global economy. // I'll give it to you straight: In the 21st Century, America must be not only a military superpower, but an economic superpower -- an export superpower. In this election, you'll hear two versions of how to do this: My opponent's answer is to look inward -- to pretend we can protect what we already have. Ours is to look forward -- open new markets, prepare our people to compete, restore the 2 social fabric, to save and invest -- so that, when it comes to the global competition -- America will win. 11 We need what I offer: An Agenda for American Renewal -- a strategy that reaches out to the world in a way that makes a difference right here in Clayton County -- in your neighborhoods, in your lives. We must build on the fundamentals of lower tax rates, limits on government spending, less red tape and regulation -- and more trade, more competition, to generate the growth that means more opportunity more jobs. And I think that in the 90's, government can add to this growth program by building opportunity and hope for individuals, empowering families and communities. My agenda for renewal is the blueprint for long-term growth. But near-term -- right now -- we all know we've got to do what we can to jumpstart our economy to put America back to work. // Back in January, more than 8 months ago, I challenged Congress to pass a new incentive: a $5000 dollar tax credit for all first-time homebuyers. I proposed that "home credit" for two reasons: First, because I knew that coming out of troubled times, housing is traditionally the sector that pulls this economy forward. I also wanted to help young families, the ones struggling to save for that first home. Because the American Dream, after all, really starts right here (gesture to homesite) -- with a home of your own. // 3 This year alone, my plan would have meant more than 270,000 new housing starts -- and 120,000 new jobs for carpenters and plumbers and plasterers. And for the average first-time homebuyer in Clayton County, that tax credit would have been the equivalent of eight month's worth of mortgage payments. Right here at 1270 Larkwood, it's like getting your down payment back - - and more. // do-nothing * My plan's still sitting / stalled by a liberal leadership that puts politics ahead of helping people. Why worry about helping put people into new homes -- and put you back to work? I guess they figure they've already got their own House -- and their own Senate, too. // Rule #1 in this business is: build from the ground up. Well, given what you've seen in Congress this year -- I think this is one time you ought to raise the roof. // The housing business is no different from a hundred other small businesses in America. I see small business as the engine of the American economy -- generating jobs and opportunity. My opponent sees small business as the goose that laid the golden egg. From $150 billion in new taxes / to a payroll tax for health care / to a training tax -- Bill Clinton wants to squeeze small business to bankroll big government. // Well I say: keep your hands off the housing industry. America's small businesses need relief -- relief from taxation / litigation / and over-regulation. // 4 You know, last month I was in Western Michigan, talking to a group of small business leaders. I talked to a guy who runs an asphalt paving company. He said, "Mr. President, government regulations are killing us." He made the point that when a regulation doesn't make sense, it's the worker who pays -- with his job. // Excessive regulation is a huge hidden cost in housing. The single most expensive item in a home these days isn't the sheetrock / or the drywall / it isn't all the lumber or even the land underneath. The single most expensive item in a new home these days is that piece of paper you stick inside the front window -- the Building Permit. // All the regulations it represents add up, on average, to as much as 25 percent of the cost of every house. That's why I've put a freeze on all new federal regulation - - to give businesses like yours a chance to breathe. // There are some good signs for the housing industry. Interest rates today are lower now than any time since 1973. {Add housing affordability index stat.} The last time a family could get a mortgage this low milk was 98 cents a gallon, or for you younger folks: Nolan Ryan was a rookie. // Georgia Let me tell you what lower interest rates mean to the American worker, the American family: Lower interest rates mean real money -- real savings for every American who buys a home ... for every family that refinances a mortgage. It means money in your pocket -- on average, as much as $2000 dollars a year -- 5 that instead of paying to the bank, you can put in the bank. Nationwide, that's like a $30 billion dollar tax cut for America's homeowners. // Now that's good news, but I'm not satisfied with good news when we could have even better. / Some studies show that three- quarters of all renters are ready to become buyers -- if they could muster up that downpayment. // If Congress had passed my plan when I asked them to -- if Congress had acted to help first- time homebuyers -- you'd see [half a million] more "Sold" signs on front lawns all across America. // And workers in the home-building area wouldn't be worried about pink slips -- they'd be too busy working overtime. // So today, let me make a suggestion: Come November 3rd, you can send me a Congress I can work with. // And if you say: Give me one good reason you'll get Congress to act -- I'll give you 150. That's the number of new faces we'll see next year in the Congress. Now -- I'll be candid. I want every last one of them to be Republican. / But whatever party they come from -- even if they were first elected before some of you were born -- they'll come back with a new appreciation for what you want: a complete set of instructions from the American people that it's time for Congress to change. And don't forget what happened the last time the Democrats controlled both ends of Pennsylvania Avenue: The days of malaise -- a Misery Index over 20 percent -- and mortgage rates so high it was a lock-out for millions of Americans who wanted to buy 6 their own home. We've seen what happens when the party of tax and spend operates without any checks and balances. // There's a better way -- a way we can do what's right for America. I've set out 13 specific initiatives -- 13 actions I'll challenge the new Congress to take in the first year of my second term. / November 3rd I'm looking for a mandate to move forward: To move forward on my Agenda for American Renewal -- an agenda that builds the stronger, more secure America we want for ourselves -- for our kids. // We've got to remember this fundamental fact: America is the envy of the world, not because its government is great -- but because its people are great. Because the American people are builders who dream, and dreamers who build. Thank you once again for this warm welcome -- and may God bless the United States of America. # # # WHITE HOUSE COMMCTR URC-112 TUE 15 SEP 92 17:37 PG.05 TIME OF TRANSMISSION TIME OF RECEIPT WHITE HOUSE SITUATION ROOM PRECEDENCE: IMMEDIATE PRIORITY ROUTINE RELEASER: DTG: 1517053 3EP92 Okawy MESSAGE NO. 125 CLASSIFICATION Unclassed PAGES 6 FROM MicheleNo x2930 122 (NAME) (PHONE NUMBER) (ROOM NO.) MESSAGE DESCRIPTION Georgia Homebuilders TO (AGENCY) DELIVER TO DEPT/ROOM NO. PHONE NUMBER AiR Steve Provost / Force Christina Martin One REMARKS: URGENTI Photocopy-Preservation WHITE HOUSE COMMCTR URC-112 TUE 15 SEP 92 17:38 PG.06 McGroarty/Nix September 15, 1992 12:30 p.m. [ga] PRESIDENTIAL REMARKS: GEORGIA HOMEBUILDERS SITE JONESBORO, GEORGIA SEPTEMBER 17, 1992 XX:00 A.M.?? Thank you ------- for those kind words -- and thanks, all of you, for this warm welcome. [Acknowledgements.] I'm pleased today to meet with you, because what you're building here at 1270 Larkwood Drive isn't just a house -- it's a little piece of the American Dream for the family who will call it home. 11 When you're done here, I'd like to pack you up and take you back to Washington. There's a certain House on the Hill back there that's in need of a little renovation. 11 You know Bob Vila's show: This Old House? Well, there's an old House back in Washington that hasn't been cleaned out for 38 years. // Let me tell you why I'm here today. Now that the Cold War is over, the defining challenge of the 90's is to win the peace - - to win the competition of the new global economy. 11 1'11 give 1L LO you straight: in the 21st Century, America must be not only a militory superpower, but an economle superpower -- an export superpower. In this election, you'll hear two versions of how to do this: My opponent's answer is to look inward -- to pretend we can protect what we already have. Ours is to look forward -- open new markets, prepare our people to compete, restore the WHITE HOUSE COMMCTR URC-112 TUE 15 SEP 92 17:39 PG.07 2 social fabric, to save and invest -- so that, when it comes to the global competition -- America will win. // We need what I offer: An Agenda for American Renewal -- a strategy that reaches out to the world in a way that makes a difference right here in Clayton County -- in your neighborhoods, in your lives. We must build on the fundamentals of lower tax rates, limits on government spending, less red tape and regulation -- and more trade, more competition, to generate the growth that means more opportunity more jobs. And I think that in the 90's, government can add to this growth program by building opportunity and hope for individuals, empowering families and communities. My agenda for renewal is the blueprint for long-term growth. But near-term -- right now -- we all know we've got to do what we can to jumpstart our economy to put America back to work. 11 Back in January, more than 8 months ago, I challenged Congress to pass a new incentive: a $5000 dollar tax credit for all first-time homebuyers. I proposed that "home credit" for two reasons: First, because I knew that coming out of troubled times, housing is traditionally the sector that pulls this economy forward. I also wanted to help young families, the ones struggling to save for that first home. Because the American Dream, after all, really starts right here (gesture to homesite) -- with a home of your own. 11 WHITE HOUSE COMMCTR URC-112 TUE 15 SEP 92 17:42 PG.01 3 This year alone, my plan would have meant more than 270,000 new housing starts -- and 120,000 new jobs for carpenters and plumbers and plasterers. And for the average first-time homebuyer in Clayton County, that tax credit would have been the equivalent of eight month's worth of mortgage payments. Right here at 1270 Larkwood, it's like getting your down payment back - - and more. 11 My plan's still sitting / stalled by a liberal leadership that puts politics ahead of helping people. Why worry about helping put people into new homes -- and put you back to work? I guess they figure they've already got their own House -- and their own Senate, too. // Rule #1 in this business is: build from the ground up. Well, given what you've seen in Congress this year -- I think this is one time you ought to raise the roof. 11 The housing business is no different from a hundred other small businesses in America. I see small business as the engine of the American economy -- generating jobs and opportunity. My opponent sees small business as the goose that laid the golden egg. From a payroll tax for health care / to a training tax / to $150 billion in new income taxes -- Bill Clinton wants to squeeze small business to bankroll big government. // Well I say: keep your hands off the housing industry. America's small businesses need relief -- relief from taxation / litigation / and over-regulation. 11 WHITE HOUSE COMMCTR URC-112 TUE 15 SEP 92 17:40 PG.09 4 You know, last month I was in Western Michigan, talking to a group of small business leaders. I talked to a guy who runs an asphalt paving company. He said, "Mr. President, government regulations are killing us." He made the point that when a regulation doesn't make sense, it's the worker who pays -- with his job. // Excessive regulation is a huge hidden cost in housing. The single most expensive item in a home these days isn't the sheetrock / or the drywall / it isn't all the lumber or even the land underneath. The single most expensive item in a new home these days is that piece of paper you stick inside the front window -- the Building Permit. // All the regulations it represents add up, on average, to as much as 25 percent of the cost of every house. That's why [housing-specific relief/NIMBY?] And it's why I've put a freeze on all new federal regulation -- to give businesses like yours a chance to breathe. // There are some good signs for the housing industry. We've worked to keep inflation under control -- and the market's gotten the message. Interest rates today are lower now than any time since 1973. The last time a family could get a mortage this low -- milk was 98 cents cents a gallon, or for you younger folks: Nolan Ryan was a rookie. // Let me tell you what lower interest rates mean to the American worker, the American family: Lower interest rates mean real money -- real savings for every American who buys a home WHITE HOUSE COMMCTR URC-112 TUE 15 SEP 92 17:41 PG.10 5 for every family that refinances a mortgage. It means money in your pocket -- on average, as much as $2000 dollars a year -- that instead of paying to the bank, you can put in the bank. Nationwide, that's like a $30 billion dollar tax cut for America's homeowners. // Now that's good news, but I'm not satisfied with good news when we could have even better. / Some studies show that three- quarters of all renters are ready to become buyers -- if they could muster up that down payment. // If Congress had passed my plan when I asked them to -- if Congress had acted to help first- time homebuyers -- you'd see [half a million] more "Sold" signs on front lawns all across America. // And workers in the home-building area wouldn't be worried about pink slips -- they'd be too busy working overtime. // So today, let me make a suggestion: Come November 3rd, you can send me a Congress I can work with. // And if you say: Give me one good reason you'll get Congress to act -- I'll give you 150. That's the number of new faces we'll see next year in the Congress. Now -- I'll be candid. I want every last one of them to be Republican. / But whatever party they come from -- even if they were first elected before some of you were born -- they'll come back with a new appreciation for what you want: a complete set of instructions from the American people that it's time for Congress to change. And don't forget what happened the last time the Democrats controlled both ends of Pennsylvania Avenue: The days of malaise WHITE KOUSE COMMCTR URC-112 TUE 15 SEP 92 17:41 PG.11 6 -- a Misery Index over 20 percent -- and mortgage rates so high it was a lock-out for millions of Americans who wanted to buy their own home. We've seen what happens when the party of tax and spend operates without any checks and balances. // So when the new Congress comes to town -- I'll be there -- ready to do the will of the American people. Ready to move on my Agenda for American Renewal -- an agenda that builds the stronger, more secure America we want for ourselves -- for our kids. // We've got to remember this fundamental fact: America is the envy of the world, not because its government is great -- but because its people are great. Because the American people are builders who dream, and dreamers who build. Thank you once again for this warm welcome -- and may God bless the United States of America. # # # McGroarty/Nix September 15, 1992 2:30 p.m. [ga] PRESIDENTIAL REMARKS: GEORGIA HOMEBUILDERS SITE JONESBORO, GEORGIA SEPTEMBER 17, 1992 XX:00 A.M.?? Thank you ------- for those kind words -- and thanks, all of you, for this warm welcome. [Acknowledgements.] I'm pleased today to meet with you, because what you're building here at 1270 Larkwood Drive isn't just a house -- it's a little piece of the American Dream for the family who will call it home. // When you're done here, I'd like to pack you up and take you back to Washington. There's a certain House on the Hill back there that's in need of a little renovation. // You know Bob Vila's show: This Old House? Well, there's an old House back in Washington that hasn't been cleaned out for 38 years. // Let me tell you why I'm here today. Now that the Cold War is over, the defining challenge of the 90's is to win the peace - - to win the competition of the new global economy. // I'll give it to you straight: In the 21st Century, America must be not only a military superpower, but an economic superpower -- an export superpower. In this election, you'll hear two versions of how to do this: My opponent's answer is to look inward -- to pretend we can protect what we already have. Ours is to look forward -- open new markets, prepare our people to compete, restore the 2 social fabric, to save and invest -- so that, when it comes to the global competition -- America will win. // We need what I offer: An Agenda for American Renewal -- a strategy that reaches out to the world in a way that makes a difference right here in Clayton County -- in your neighborhoods, in your lives. We must build on the fundamentals of lower tax rates, limits on government spending, less red tape and regulation -- and more trade, more competition, to generate the growth that means more opportunity ... more jobs. And I think that in the 90's, government can add to this growth program by building opportunity and hope for individuals, empowering families and communities. My agenda for renewal is the blueprint for long-term growth. But near-term -- right now -- we all know we've got to do what we can to jumpstart our economy to put America back to work. // Back in January, more than 8 months ago, I challenged Congress to pass a new incentive: a $5000 dollar tax credit for all first-time homebuyers. I proposed that "home credit" for two reasons: First, because I knew that coming out of troubled times, housing is traditionally the sector that pulls this economy forward. I also wanted to help young families, the ones struggling to save for that first home. Because the American Dream, after all, really starts right here (gesture to homesite) -- with a home of your own. // 3 This year alone, my plan would have meant more than 270,000 new housing starts -- and 120,000 new jobs for carpenters and plumbers and plasterers. And for the average first-time homebuyer in Clayton County, that tax credit would have been the equivalent of eight month's worth of mortgage payments. Right here at 1270 Larkwood, it's like getting your down payment back - - and more. // My plan's still sitting / stalled by a liberal leadership that puts politics ahead of helping people. Why worry about helping put people into new homes -- and put you back to work? I guess they figure they've already got their own House -- and their own Senate, too. // Rule #1 in this business is: build from the ground up. Well, given what you've seen in Congress this year -- I think this is one time you ought to raise the roof. // The housing business is no different from a hundred other small businesses in America. I see small business as the engine of the American economy -- generating jobs and opportunity. My opponent sees small business as the goose that laid the golden egg. From $150 billion in new taxes / to a payroll tax for health care / to a training tax -- Bill Clinton wants to squeeze small business to bankroll big government. // Well I say: keep your hands off the housing industry. America's small businesses need relief -- relief from taxation L litigation / and over-regulation. // 4 You know, last month I was in Western Michigan, talking to a group of small business leaders. I talked to a guy who runs an asphalt paving company. He said, "Mr. President, government regulations are killing us." He made the point that when a regulation doesn't make sense, it's the worker who pays -- with his job. // Excessive regulation is a huge hidden cost in housing. The single most expensive item in a home these days isn't the sheetrock / or the drywall / it isn't all the lumber or even the land underneath. The single most expensive item in a new home these days is that piece of paper you stick inside the front window -- the Building Permit. // All the regulations it represents add up, on average, to as much as 25 percent of the cost of every house. That's why I've put a freeze on all new federal regulation - - to give businesses like yours a chance to breathe. // There are some good signs for the housing industry. Interest rates today are lower now than any time since 1973. {Add housing affordability index stat.} The last time a family could get a mortgage this low -- milk was 98 cents a gallon, or for you younger folks: Nolan Ryan was a rookie. // Let me tell you what lower interest rates mean to the American worker, the American family: Lower interest rates mean real money -- real savings for every American who buys a home for every family that refinances a mortgage. It means money in your pocket -- on average, as much as $2000 dollars a year -- 5 that instead of paying to the bank, you can put in the bank. Nationwide, that's like a $30 billion dollar tax cut for America's homeowners. // Now that's good news, but I'm not satisfied with good news when we could have even better. / Some studies show that three- quarters of all renters are ready to become buyers -- if they could muster up that downpayment. // If Congress had passed my plan when I asked them to -- if Congress had acted to help first- time homebuyers -- you'd see [half a million] more "Sold" signs on front lawns all across America. // And workers in the home-building area wouldn't be worried about pink slips -- they'd be too busy working overtime. // So today, let me make a suggestion: Come November 3rd, you can send me a Congress I can work with. // And if you say: Give me one good reason you'll get Congress to act -- I'll give you 150. That's the number of new faces we'll see next year in the Congress. Now -- I'll be candid. I want every last one of them to be Republican. / But whatever party they come from -- even if they were first elected before some of you were born -- they'll come back with a new appreciation for what you want: a complete set of instructions from the American people that it's time for Congress to change. And don't forget what happened the last time the Democrats controlled both ends of Pennsylvania Avenue: The days of malaise -- a Misery Index over 20 percent -- and mortgage rates so high it was a lock-out for millions of Americans who wanted to buy 6 their own home. We've seen what happens when the party of tax and spend operates without any checks and balances. // There's a better way -- a way we can do what's right for America. I've set out 13 specific initiatives -- 13 actions I'll challenge the new Congress to take in the first year of my second term. / November 3rd I'm looking for a mandate to move forward: To move forward on my Agenda for American Renewal -- an agenda that builds the stronger, more secure America we want for ourselves -- for our kids. // We've got to remember this fundamental fact: America is the envy of the world, not because its government is great -- but because its people are great. Because the American people are builders who dream, and dreamers who build. Thank you once again for this warm welcome -- and may God bless the United States of America. # # #

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Georgia Homebuilders 9/17/92 [OA 5813]

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