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Economic Speech 10/29/92 [OA 8485]
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Document No. 359617ss
WHITE HOUSE STAFFING MEMORANDUM
DATE: 10/28/92
ACTION/CONCURRENCE/COMMENT DUE BY: A.S.A.P.
PRESIDENTIAL REMARKS: ECONOMIC SPEECH
DOWN RIVER, MICHIGAN
SUBJECT:
OCT. 29, 1992
ACTION FYI
ACTION FYI
VICE PRESIDENT
MCBRIDE
BAKER
X MOORE
SCOWCROFT
X MULLINS
V
DARMAN
PETERSMEYER
BATES
PORTER
BRADY
X PROVOST
BROMLEY
ROSS N/C
CALIO
>
SMITH
N/C
DEMAREST
<
TUTWILER
FITZWATER
X
ZOELLICK
GRAY
KAUFMAN
HOLIDAY
MCGROARTY
HORNER
GROOMES
BOSKIN
REMARKS:
Please provide comments on the attached directly to
Dan McGroarty, Rm. 122, x2930, with a copy to this office
A.S.A.P. Thank you.
RESPONSE:
called 8:50
PHILLIP D. BRADY
Assistant to the President
and Staff Secretary
Ext. 2702
((Grady 10/28/92))
PRESIDENTIAL REMARKS:
ECONOMIC SPEECH
DOWN RIVER, MICHIGAN
OCTOBER 029R 61.9922
In just five days, you will make the most important choice you
can make in our democracy. The time for predictions and polls will
be over -- you will step into the booth, and be heard.
The choice you will make on election day is serious -- it is
one that will determine the future course of America for the next
four years -- with consequences that could extend far into the
future. You will choose who should lead this nation, and who
should lead the free world.
Governor Clinton and I agree on at least one thing in this
campaign -- the economy is the number one issue. But who do you
really trust to get us through and beyond our current problems -
- to extend America's leadership? Each of us has offered a plan.
The issue is whose plan will help the economy grow and create jobs
-- mine or Governor Clinton's.
First, let's have some straight talk about our current
situation -- about both the strengths and weaknesses of the economy
today.
Here are the facts. Growth has been too slow. But we are
growing. We have just finished our sixth straight quarter of
growth. That is not a recession. In the last quarter, we grew
twice as fast as Japan. Meanwhile, Germany's growth was negative.
Now you've all seen Governor Clinton recite his facts. The
last person I heard race through that many statistics sold me a
2
used car -- it was a lemon; it kept swinging left.
Take Governor Clinton's claim about our economic performance.
Frankly, when he makes comparisons, Governor Clinton slips right
past the fact that the last time we brought together a Democratic
President and a Democratic Congress, we triggered the worst four
year decline in our economy in 50 years. From 1978 to 1982, the
economic policies of the other side actually shrunk the economy.
In contrast, since the end of 1988, our economy has grown by over
4 1/2 percent.
The worst economic performance since the Depression belongs
to Bill Clinton's soulmate Jimmy Carter. His last year in office,
1980, witnessed the single greatest fall in average family income -
- 3.4%. We dug ourselves out of that recession and generated 20
million new jobs in 10 years. Bill Clinton would throw us back in
the ditch.
Look at some further evidence. Inflation today is running at
just under 3% per year. The last time we had a Democratic Congress
and a Democratic President, inflation rose to 13.5%. Jimmy
Carter's policies drove interest rates as high as 21.5 percent.
Today, the prime rate is 6 percent, and mortgage interest rates are
the lowest they have been in a generation. Lower interest rates
have allowed those who refinance their homes to save $2,000 a year
in mortgage payments.
The bond market is already responding to Bill Clinton's
program of more spending and higher deficits. Interest rates have
begun to rise with reports that he will launch a spending binge
3
with no compensating budgetary control. So don't kid yourself.
The markets are voting with their feet. Bill Clinton's plan will
lead to higher interest rates. And that will put a brake on the
economy just when we need to hit the accelerator.
You might ask, how is it that these facts haven't been
reported to the American people? And that, indeed, is a very good
question.
Not long ago, ABC's Nightline sponsored a "Town Meeting" at
Rice University in Houston, Texas. Ted Koppel, the host, asked the
audience first to clap if they thought the national media had been
biased in favor of Governor Clinton and against my candidacy. The
applause was thunderous. Then he asked them to clap if the thought
it had been the other way around. Near silence. Koppel was
shocked. But most people were not.
A recent study by the Center for Media and Public Affairs
revealed that 96% of the stories about the economy over the last
three months have been negative. Only one in twenty five presented
some balance. That's a higher ratio of negative stories than
during the recession itself.
So no wonder consumer confidence is low. Dan Rather and Bill
Clinton have formed a tag team so that reporting on the economy has
all the truth and authenticity of professional wrestling.
But American workers haven't been wrestled to the ground.
They are the most productive in the world. The American people
have the highest standard of living.
And in a few days, you can ignore the pundits and the so-
4
called experts, and rely on your own common sense.
The question before America next Tuesday is: what set of
policies will keep America number one? It comes down to this:
whose plan will help the economy grow and create jobs?
Here is my plan.
First, we have got to help small business. Small business is
the source of two out of three new jobs. So I propose more credit
for small business. Lower taxes. And less regulation. That will
create jobs.
Second, we've got to open new markets for American products.
The North American Free Trade Agreement with Canada and Mexico will
create 200,000 jobs -- and that's just the beginning. We need
lower barriers to our products around the world.
Third, we've got to help get businesses ready to compete in
this global economy. That means investment in R&D and in new
technologies like computers, lighter and stronger materials, and
biotechnology. Bill Clinton talks about it. We're already doing
it -- advancing whole new technologies, and freeing the private
sector to develop exciting new applications and products.
Getting business ready to compete means reforming our legal
system to cut down on the number of frivolous lawsuits. Last year,
there were 18 million lawsuits filed in this country. And 70
percent of the world's lawyers live here in America. I want to
make sure we lead the world in the production of goods and
services, not the production of lawyers.
Fourth, if we're going to compete in the long run, we've got
5
to improve our schools and train our workers. I've increased the
education budget by 41 percent. But we need more accountability.
That means testing teachers and students. And it means giving
parents the choice of the best schools for their children --
public, private, or religious.
Bill Clinton would stand in the way of this idea -- but the
American people want it. One recent Gallup survey found that 70%
of Americans favor full school choice.
Fifth, if we're going to create economic security for all
Americans, we need health care reform. My plan makes health
insurance affordable for all Americans. And it makes it possible
to go from one job to another without fear of losing insurance.
Last but not least, we can and must do all these things while
holding the line on spending and taxes. My plan would control the
growth of mandatory government spending. It would reduce taxes on
the American people. And it's time for a balanced budget
amendment; a line item veto; and a taxpayer checkoff to cut
spending and cut the deficit --- because if Congress won't cut
spending, they should let the people do it for them.
Now I ask you to compare each of those six points with
Governor Clinton's plan.
Small business. Governor Clinton's plan would crush small
business. New payroll taxes for health care. New payroll taxes
for training. More regulation. More paperwork. Governor Clinton
has a plan for small business. He would make every big business
small. And he would make every small business non-existent.
6
New markets through free and fair trade. One day, Governor
Clinton says he's for it. Then the next he says he'd put
conditions on his support. And here's the most telling evidence
of his true beliefs. Newsweek magazine, then the British papers,
and now other news organizations have reported that Governor
Clinton's representatives have been working to make sure that we
don't get a GATT agreement and the expanded trade that would come
with it.
If these reports are correct, Governor Clinton is letting
American jobs take a back seat to his political ambitions. That's
cynical. It's irresponsible. And it's wrong.
You know, the New York Times finally got one Clinton ally who
had a meeting with top EC officials in Washington to come forward.
Now this Washington lawyer says he was acting on his own. Do you
believe that? Top level EC officials just decide to meet a guy who
walks in off the street, representing himself. They send cables
back to Europe reporting on his message. Governor Clinton should
come clean: did anyone in his campaign or advising it set up the
meeting? Did the Clinton foreign policy advisors who met European
officials on a recent tour of Europe state a position on our
ongoing negotiations?
Then there's legal reform. It's simple -- Governor Clinton
opposes it. The trial lawyers support and fund his campaign. And
they won't let him support it. That may be right for his campaign
coffers, but it's wrong for America.
Education reform. Same problem. The education lobby, and the
7
National Education Association don't want true school choice. So
Governor Clinton opposes it.
Health care reform. Governor Clinton's plan is simple: new
payroll taxes. Government boards to fix prices, leading inevitably
to rationing of services. Last time the government tried to
allocate something it was gasoline. It didn't work. Jimmy Carter
had long gas lines. Bill Clinton now offers lines at the doctor's
office.
And taxes and spending. Here is the clearest difference of
all. Governor Clinton's plan proposes a $150 billion tax increase
-- the largest in American history.
Yet here's the irony. There isn't a serious economist who
thinks that raising taxes will create jobs.
In fact, economists estimate that health care payroll taxes
will destroy 700,000 jobs. CAFE standards will kill 300,000 jobs.
Radical defense cuts will wipe out an additional 1 million jobs.
There's a name for Governor Clinton's brand of no-growth,
high-tax economics: trample down economics. It will trample down
growth. It will trample down small business. It will trample down
jobs.
Let me bring this message home -- right here -- in Michigan.
We all know it: General Motors, the biggest company in the world,
is going through a time of upheaval. I believe GM can turn it
around. Quality is improving. They make good products. They have
the best workers in the world.
And this much is absolutely clear. The last thing that GM
8
needs now is higher taxes and extreme government mandates that will
dictate what sort of cars and trucks have to be built. Does anyone
seriously believe that when GM is down, higher taxes will help it
recover? Does Governor Clinton really believe that Michigan
workers will benefit from more regulation and higher CAFE
standards?
Face facts: these things will not help save GM jobs. They
will destroy them.
Yet higher taxes, more regulation, and higher CAFE standards
are what Governor Clinton offers.
At the debate in East Lansing a few weeks ago, Bill Clinton
looked right in the camera and said that higher CAFE standards were
only a goal. He said, quote, "I defy anyone to find where we said
it should be in legislation."
Yet let me quote something else. It's from the Bill Clinton
for President Committee, "National Energy Policy," dated Spring
1992, and here's what it says: -- quote -- "I support an increase
in corporate average fuel economy standards from the current 27.5
miles per gallon
The 45 miles per gallon standard should
be
incorporated into national legislation. "
And here's another quote. It's from page 90 of Governor
Clinton's own plan. It says -- quote -- "Increase corporate
average fuel economy standards from the current 27.5 miles per
gallon to 40 miles per gallon by the year 2000, and 45 miles per
gallon by 2015. "
So here is the fact: Governor Clinton stared into that camera
9
with a look of sincerity and spoke words that were not sincere.
And that is part of a pattern. He said on August 12th that
his health plan would include a payroll tax. He said in September
that it wouldn't. He said in January he wouldn't rule out term
limits for Congressmen. Then he said in July he opposed term
limits.
This is part of a pattern -- a pattern that is dangerous for
Michigan workers, and dangerous for America.
You see, Governor Clinton is trying to pull a fast one on the
American people. He brags about job growth this year in Arkansas.
But he doesn't tell you that throughout the 1980s, job growth in
Arkansas was 30% below the national average.
And he doesn't tell you this: this week, the Toledo Blade
reported that Arkansas lured companies from the Midwest with low
wages and lax environmental laws. The Blade headline asked the
right question. It read: "Job Growth, or Job Theft?"
In the end, the choice before the voters on Tuesday is very
clear. Our economy is moving through recovery to expansion.
Governor Clinton's plan will reverse course and stop the recovery
in its tracks.
Over the last 12 years, we have succeeded in reducing taxes
on the American people. Governor Clinton will reverse course and
raise them.
And around the world, people are choosing the path America has
blazed -- freer markets, less government control, more power for
the individual. Governor Clinton will reverse course and send us
10
the other way.
When you step into that voting booth on Tuesday, consider
which plan you think will help create jobs for America. My plan
of open markets, better schools, help for small business, lower
taxes, and less government spending. Or Governor Clinton's plan
of higher taxes, more spending, and more government.
Remember this: when you make your choice, there is no refund.
No margin for error. No turning back if a mistake is made.
America's future is too important to be put at risk with policies
that are wrong for America.
Ladies and gentlemen, the choice is clear. I need your
support, and I ask for your vote.
Thank you, God bless you, and God bless the United States of
America.
#
#
#
#
#
Document No. 359617ss
WHITE HOUSE STAFFING MEMORANDUM
DATE: 10/28/92
ACTION/CONCURRENCE/COMMENT DUE BY:
A.S.A.P.
PRESIDENTIAL REMARKS: ECONOMIC SPEECH
DOWN RIVER, MICHIGAN
SUBJECT:
OCT. 29, 1992
ACTION FYI
ACTION FYI
VICE PRESIDENT
MCBRIDE
BAKER
>
MOORE
SCOWCROFT
MULLINS
R
DARMAN
PETERSMEYER
BATES
PORTER
R
BRADY
PROVOST
BROMLEY
ROSS
CALIO
SMITH
DEMAREST
<
TUTWILER
FITZWATER
ZOELLICK
GRAY
KAUFMAN
HOLIDAY
MCGROARTY
HORNER
GROOMES
BOSKIN
REMARKS:
Please provide comments on the attached directly to
Dan McGroarty, Rm. 122, x2930, with a copy to this office
A.S.A.P. Thank you.
RESPONSE: We should tout our accounplishments on
regulatory and legal reform, justas Assistant
PHILLIP D. BRADY
to the President
me do on trade, lugh-teeh, and
and Staff Secretary
Ext. 2702
education. See P.5.
6cs 10/29/92
((Grady 10/28/92))
PRESIDENTIAL REMARKS:
ECONOMIC SPEECH
DOWN RIVER, MICHIGAN
OCTOBER 61.922
In just five days, you will make the most important choice you
can make in our democracy. The time for predictions and polls will
be over -- you will step into the booth, and be heard.
The choice you will make on election day is serious -- it is
one that will determine the future course of America for the next
four years -- with consequences that could extend far into the
future. You will choose who should lead this nation, and who
should lead the free world.
Governor Clinton and I agree on at least one thing in this
campaign -- the economy is the number one issue. But who do you
really trust to get us through and beyond our current problems -
- to extend America's leadership? Each of us has offered a plan.
The issue is whose plan will help the economy grow and create jobs
-- mine or Governor Clinton's.
First, let's have some straight talk about our current
situation -- about both the strengths and weaknesses of the economy
today.
Here are the facts. Growth has been too slow. But we are
growing. We have just finished our sixth straight quarter of
growth. That is not a recession. In the last quarter, we grew
twice as fast as Japan. Meanwhile, Germany's growth was negative.
Now you've all seen Governor Clinton recite his facts. The
last person I heard race through that many statistics sold me a
m fait, clutor where chairmanour Conter's
1976 campangn in Arbansas
2
used car -- it was a lemon; it kept swinging left.
Take Governor Clinton's claim about our economic performance.
Frankly, when he makes comparisons, Governor Clinton slips right
past the fact that the last time we brought together a Democratic
President and a Democratic Congress, we triggered the worst four
year decline in our economy in 50 years. From 1978 to 1982, the
economic policies of the other side actually shrunk the economy.
In contrast, since the end of 1988, our economy has grown by over
4 1/2 percent.
The worst economic performance since the Depression belongs
to Bill Clinton's soulmate Jimmy Carter. His last year in office,
1980, witnessed the single greatest fall in average family income -
- 3.4%. We dug ourselves out of that recession and generated 20
million new jobs in 10 years. Bill Clinton would throw us back in
the ditch.
Look at some further evidence. Inflation today is running at
just under 3% per year. The last time we had a Democratic Congress
and a Democratic President, inflation rose to 13.5%. Jimmy
Carter's policies drove interest rates as high as 21.5 percent.
Today, the prime rate is 6 percent, and mortgage interest rates are
the lowest they have been in a generation. Lower interest rates
an
have allowed those who refinance their homes to save $2,000 a year
amera
in mortgage payments.
The bond market is already responding to Bill Clinton's
program of more spending and higher deficits. Interest rates have
begun to rise with reports that he will launch a spending binge
3
with no compensating budgetary control. So don't kid yourself.
The markets are voting with their feet. Bill Clinton's plan will
lead to higher interest rates. And that will put a brake on the
economy just when we need to hit the accelerator.
You might ask, how is it that these facts haven't been
reported to the American people? And that, indeed, is a very good
question.
Not long ago, ABC's Nightline sponsored a "Town Meeting" at
Rice University in Houston, Texas. Ted Koppel, the host, asked the
audience first to clap if they thought the national media had been
biased in favor of Governor Clinton and against my candidacy. The
applause was thunderous. Then he asked them to clap if the thought
it had been the other way around. Near silence. Koppel was
shocked. But most people were not.
A recent study by the Center for Media and Public Affairs
revealed that 96% of the stories about the economy over the last
three months have been negative. Only one in twenty five presented
some balance. That's a higher ratio of negative stories than
during the recession itself.
So no wonder consumer confidence is low. Dan Rather and Bill
Clinton have formed a tag team so that reporting on the economy has
all the truth and authenticity of professional wrestling.
But American workers haven't been wrestled to the ground.
They are the most productive in the world. The American people
have the highest standard of living.
And in a few days, you can ignore the pundits and the so-
- in fact, I'me already reduced
regulatory burdens by $25- 30 billow
per year just sume January
called experts, and rely on your own common sense.
The question before America next Tuesday is: what set of
policies will keep America number one? It comes down to this:
whose plan will help the economy grow and create jobs?
Here is my plan.
First, we have got to help small business. Small business is
the source of two out of three new jobs. So I propose more credit
for small business. Lower taxes. And less regulation. That will
the policy
create jobs.
Second, we've got to open new markets for American products.
The North American Free Trade Agreement with Canada and Mexico will
create 200,000 jobs -- and that's just the beginning. We need
lower barriers to our products around the world.
Third, we've got to help get businesses ready to compete in
this global economy. That means investment in R&D and in new
technologies like computers, lighter and stronger materials, and
biotechnology. Bill Clinton talks about it. We're already doing
it -- advancing whole new technologies, and freeing the private
sector to develop exciting new applications and products.
Getting business ready to compete means reforming our legal
system to cut down on the number of frivolous lawsuits. Last year,
there were 18 million lawsuits filed in this country. And 70
percent of the world's lawyers live here in America. I want to
make sure we lead the world in the production of goods and
services, not the production of lawyers.
Fourth, if we're going to compete in the long run, we've got
And I have already proposed tongh
legislation to reform our legal sustem
5
to improve our schools and train our workers. I've increased the
education budget by 41 percent. But we need more accountability.
That means testing teachers and students. And it means giving
parents the choice of the best schools for their children --
public, private, or religious.
Bill Clinton would stand in the way of this idea -- but the
American people want it. One recent Gallup survey found that 70%
of Americans favor full school choice.
Fifth, if we're going to create economic security for all
Americans, we need health care reform. My plan makes health
insurance affordable for all Americans. And it makes it possible
to go from one job to another without fear of losing insurance.
Last but not least, we can and must do all these things while
holding the line on spending and taxes. My plan would control the
growth of mandatory government spending. It would reduce taxes on
the American people. And it's time for a balanced budget
amendment; a line item veto; and a taxpayer checkoff to cut
spending and cut the deficit --- because if Congress won't cut
spending, they should let the people do it for them.
Now I ask you to compare each of those six points with
Governor Clinton's plan.
Small business. Governor Clinton's plan would crush small
business. New payroll taxes for health care. New payroll taxes
for training. More regulation. More paperwork. Governor Clinton
has a plan for small business. He would make every big business
small. And he would make every small business non-existent.
6
New markets through free and fair trade. One day, Governor
Clinton says he's for it. Then the next he says he'd put
conditions on his support. And here's the most telling evidence
of his true beliefs. Newsweek magazine, then the British papers,
and now other news organizations have reported that Governor
Clinton's representatives have been working to make sure that we
don't get a GATT agreement and the expanded trade that would come
with it.
If these reports are correct, Governor Clinton is letting
American jobs take a back seat to his political ambitions. That's
cynical. It's irresponsible. And it's wrong.
You know, the New York Times finally got one Clinton ally who
had a meeting with top EC officials in Washington to come forward.
Now this Washington lawyer says he was acting on his own. Do you
believe that? Top level EC officials just decide to meet a guy who
walks in off the street, representing himself. They send cables
back to Europe reporting on his message. Governor Clinton should
come clean: did anyone in his campaign or advising it set up the
meeting? Did the Clinton foreign policy advisors who met European
officials on a recent tour of Europe state a position on our
ongoing negotiations?
Then there's legal reform. It's simple -- Governor Clinton
opposes it. The trial lawyers support and fund his campaign. And
they won't let him support it. That may be right for his campaign
coffers, but it's wrong for America.
Education reform. Same problem. The education lobby, and the
7
National Education Association don't want true school choice. So
Governor Clinton opposes it.
Health care reform. Governor Clinton's plan is simple: new
payroll taxes. Government boards to fix prices, leading inevitably
to rationing of services. Last time the government tried to
allocate something it was gasoline. It didn't work. Jimmy Carter
had long gas lines. Bill Clinton now offers lines at the doctor's
office.
And taxes and spending. Here is the clearest difference of
all. Governor Clinton's plan proposes a $150 billion tax increase
-- the largest in American history.
Yet here's the irony. There isn't a serious economist who
thinks that raising taxes will create jobs.
clinton's
In fact, economists estimate that health care payroll taxes
will destroy 700,000 jobs. CAFE standards will kill 300,000 jobs.
Radical defense cuts will wipe out an additional 1 million jobs.
His
proposed
There's a name for Governor Clinton's brand of no-growth,
high-tax economics: trample down economics. It will trample down
growth. It will trample down small business. It will trample down
jobs.
Let me bring this message home -- right here -- in Michigan.
We all know it: General Motors, the biggest company in the world,
is going through a time of upheaval. I believe GM can turn it
around. Quality is improving. They make good products. They have
the best workers in the world.
And this much is absolutely clear. The last thing that GM
8
needs now is higher taxes and extreme government mandates that will
dictate what sort of cars and trucks have to be built. Does anyone
seriously believe that when GM is down, higher taxes will help it
recover? Does Governor Clinton really believe that Michigan
workers will benefit from more regulation and higher CAFE
standards?
Face facts: these things will not help save GM jobs. They
will destroy them.
Yet higher taxes, more regulation, and higher CAFE standards
are what Governor Clinton offers.
At the debate in East Lansing a few weeks ago, Bill Clinton
looked right in the camera and said that higher CAFE standards were
only a goal. He said, quote, "I defy anyone to find where we said
it should be in legislation."
Yet let me quote something else. It's from the Bill Clinton
for President Committee, "National Energy Policy," dated Spring
1992, and here's what it says: -- quote -- "I support an increase
in corporate average fuel economy standards from the current 27.5
miles per gallon
The 45 miles per gallon standard should
be
incorporated into national legislation."
And here's another quote. It's from page 90 of Governor
Clinton's own plan. It says -- quote -- "Increase corporate
average fuel economy standards from the current 27.5 miles per
gallon to 40 miles per gallon by the year 2000, and 45 miles per
gallon by 2015. If
So here is the fact: Governor Clinton stared into that camera
9
with a look of sincerity and spoke words that were not sincere.
And that is part of a pattern. He said on August 12th that
his health plan would include a payroll tax. He said in September
that it wouldn't. He said in January he wouldn't rule out term
limits for Congressmen. Then he said in July he opposed term
limits.
This is part of a pattern -- a pattern that is dangerous for
Michigan workers, and dangerous for America.
You see, Governor Clinton is trying to pull a fast one on the
American people. He brags about job growth this year in Arkansas.
But he doesn't tell you that throughout the 1980s, job growth in
Arkansas was 30% below the national average.
And he doesn't tell you this: this week, the Toledo Blade
reported that Arkansas lured companies from the Midwest with low
wages and lax environmental laws. The Blade headline asked the
right question. It read: "Job Growth, or Job Theft?"
beeng is
In the end, the choice before the voters on Tuesday is very
clear.
Our economy is moving through recovery to expansion.
Governor Clinton's plan will reverse course and stop the recovery
takes
in its tracks.
Over the last 12 years, we have succeeded in reducing taxes
on the American people. Governor Clinton will reverse course and
store Than gut,no. yed. no
raise them.
And around the world, people are choosing the path America has
blazed -- freer markets, less government control, more power for
the individual. Governor Clinton will reverse course and send us
10
the other way.
When you step into that voting booth on Tuesday, consider
which plan you think will help create jobs for America. My plan
of open markets, better schools, help for small business, lower
taxes, and less government spending. Or Governor Clinton's plan
of higher taxes, more spending, and more government.
Remember this: when you make your choice, there is no refund.
No margin for error. No turning back if a mistake is made.
America's future is too important to be put at risk with policies
that are wrong for America.
Ladies and gentlemen, the choice is clear. I need your
support, and I ask for your vote.
Thank you, God bless you, and God bless the United States of
America.
#
#
#
#
#
EXECUTIVE OFFICE OF THE PRESIDENT
OFFICE OF MANAGEMENT AND BUDGET
WASHINGTON, D.C. 20503
10.29.92
92 OCT 29 All: : 15
NOTICE:
Enclosed are comments from staff members of the Office of
Management and Budget (OMB) Such comments do not necessarily
represent the official position of the Director of OMB or of the
Office of Management and Budget. If you wish to have the
Director's personal comments, please let me know -- and contact
me if you have any questions.
James UCM C. Murr
Associate Director for
Legislative Reference
and Administration
Document No. 359617ss
WHITE HOUSE STAFFING MEMORANDUM
DATE: 10/28/92
ACTION/CONCURRENCE/COMMENT DUE BY: A.S.A.P.
PRESIDENTIAL REMARKS: ECONOMIC SPEECH
DOWN RIVER, MICHIGAN
SUBJECT:
OCT. 29, 1992
ACTION FYI
ACTION FYI
VICE PRESIDENT
<
MCBRIDE
BAKER
MOORE
>
SCOWCROFT
MULLINS
X
DARMAN
PETERSMEYER
BATES
PORTER
BRADY
PROVOST
BROMLEY
ROSS
CALIO
SMITH
DEMAREST
<
TUTWILER
FITZWATER
ZOELLICK
GRAY
1
KAUFMAN
HOLIDAY
MCGROARTY
HORNER
GROOMES
BOSKIN
REMARKS:
Please provide comments on the attached directly to
Dan McGroarty, Rm. 122, x2930, with a copy to this office
A.S.A.P. Thank you.
RESPONSE:
See Comments
PHILLIP D. BRADY
Assistant to the President
and Staff Secretary
Ext. 2702
WHITE HOUSE STAFFING REQUEST
Subject:
PRESIDENTIAL REMARKS: ECONOMIC SPEECH
DOWN RIVER, MICHIGAN
OCTOBER 29, 1992
THURSDAY, OCTOBER 22 ?
Date/Time Received:
RESPONSE DUE:
10/28/92 - 7:00 PM
ASAP
Response due to Director's Office Support Group, Room 254, Ext. 3060.
Please respond to every staffing request, even if you have no comment.
Distribution Within OMB
Action
FYI
Action
FYI
Director
X
MacRae, J.
at
Grady, R.
X
Martin, B.
X
Dep Dir/Mgmt
Mazur, E.
X
Al-Samarrie, A.
Murr, J.
X
X
Anderson, B.
Reeder, F.
Burman, A.
Rockefeller, N.
X
Dale, E.
X
Scully, T.
X
Damus, R.
Taylor, D.
X
Gilman, P.
(Other)
X
Hale, J.
X
Howard, R.
Comments: Healthcare ! -3points on his plan Mease
The attached document is Presidential material that contains
political elements. Accordingly, please restrict your review and comments
to checking the accuracy of factual statements and statements about the
Administration's official policies and activities.
((Grady 10/28/92))
PRESIDENTIAL REMARKS:
ECONOMIC SPEECH
DOWN RIVER, MICHIGAN
OCTOBER 829R 61.9922
In just five days, you will make the most important choice you
can make in our democracy. The time for predictions and polls will
be over -- you will step into the booth, and be heard.
The choice you will make on election day is serious -- it is
one that will determine the future course of America for the next
four years -- with consequences that could extend far into the
future. You will choose who should lead this nation, and who
should lead the free world.
Governor Clinton and I agree on at least one thing in this
campaign -- the economy is the number one issue. But who do you
really trust to get us through and beyond our current problems -
- to extend America's leadership? Each of us has offered a plan.
The issue is whose plan will help the economy grow and create jobs
-- mine or Governor Clinton's.
First, let's have some straight talk about our current
situation -- about both the strengths and weaknesses of the economy
today.
Here are the facts. Growth has been too slow. But we are
growing. We have just finished our sixth straight quarter of
growth. That is not a recession. In the last quarter, we grew
twice as fast as Japan. Meanwhile, Germany's growth was negative.
Now you've all seen Governor Clinton recite his facts. The
last person I heard race through that many statistics sold me a
Thismest is you quarter statement count only from of 1978 quarter if the the final or 2 final 1982
(Ahwed al-somarric
10/29 5873
used car -- it was a lemon; it kept swinging left.
Take Governor Clinton's claim about our economic performance.
Frankly, when he makes comparisons, Governor Clinton slips right
past the fact that the last time we brought together a Democratic
President and a Democratic Congress, we triggered the worst four
final quarter the final quater of
year decline in our economy in 50 years.
From 1978 to 1982, the
economic policies of the other side actually shrunk the economy.
In contrast, since the end of 1988, our economy has grown by over
4 1/2 percent.
The worst economic performance since the Depression belongs
to Bill Clinton's soulmate Jimmy Carter. His last year in office,
1980, witnessed the single greatest fall in average family income -
- 3.4%. We dug ourselves out of that recession and generated 20
million new jobs in 10 years. Bill Clinton would throw us back in
the ditch.
Look at some further evidence. Inflation today is running at
just under 3% per year. The last time we had a Democratic Congress
and a Democratic President, inflation rose to 13.5%. Jimmy
Carter's policies drove interest rates as high as 21.5 percent.
Today, the prime rate is 6 percent, and mortgage interest rates are
the lowest they have been in a generation. Lower interest rates
have allowed those who refinance their homes to save $2,000 a year
in mortgage payments.
The bond market is already responding to Bill Clinton's
program of more spending and higher deficits. Interest rates have
begun to rise with reports that he will launch a spending binge
2
used car -- it was a lemon; it kept swinging left.
Take Governor Clinton's claim about our economic performance.
Frankly, when he makes comparisons, Governor Clinton slips right
past the fact that the last time we brought together a Democratic
President and a Democratic Congress, we triggered the worst four
year decline in our economy in 50 years. From 1978 to 1982, the
economic policies of the other side actually shrunk the economy.
In contrast, since the end of 1988, our economy has grown by over
4 1/2 percent.
The worst economic performance since the Depression belongs
to Bill Clinton's soulmate Jimmy Carter. His last year in office,
1980, witnessed the single greatest fall in average family income -
- 3.4%. We dug ourselves out of that recession and generated 20
million new jobs in 10 years. Bill Clinton would throw us back in
the ditch.
Look at some further evidence. Inflation today is running at
just under 3% per year. The last time we had a Democratic Congress
and a Democratic President, inflation rose to 13.5%. Jimmy
Carter's policies drove interest rates as high as 21.5 percent.
Today, the prime rate is 6 percent, and mortgage interest rates are
the lowest they have been in a generation. Lower interest rates
have allowed those who refinance their homes to save $2,000 a year
in mortgage payments.
The bond market is already responding to Bill Clinton's
program of more spending and higher deficits. Interest rates have
begun to rise with 4844 reports that he will launch a spending binge
Mow
would
note: don't even hont that
he could be President
3
with no compensating budgetary control. So don't kid yourself.
The markets are voting with their feet. Bill Clinton's plan will would
lead to higher interest rates. And that will put a brake on the
economy just when we need to hit the accelerator.
You might ask, how is it that these facts haven't been
reported to the American people? And that, indeed, is a very good
question.
Not long ago, ABC's Nightline sponsored a "Town Meeting" at
Rice University in Houston, Texas. Ted Koppel, the host, asked the
audience first to clap if they thought the national media had been
biased in favor of Governor Clinton and against my candidacy. The
applause was thunderous. Then he asked them to clap if the thought
it had been the other way around. Near silence. Koppel was
shocked. But most people were not.
A recent study by the Center for Media and Public Affairs
revealed that 96% of the stories about the economy over the last
xoous
three months have been negative. Only one in twenty five presented
some balance. That's a higher ratio of negative stories than
Do you want to
during the recession itself.
single out particular a
So no wonder consumer confidence is low.
Dan Rather and Bill
news
Clinton have formed a tag team so that reporting on the economy has
personality
all the truth and authenticity of professional wrestling.
But American workers haven't been wrestled to the ground.
They are the most productive in the world. The American people
have the highest standard of living.
And in a few days, you can ignore the pundits and the so-
4
called experts, and rely on your own common sense.
The question before America next Tuesday is: what set of
policies will keep America number one? It comes down to this:
whose plan will help the economy grow and create jobs?
Here is my plan.
Молкон
First, we have got to help small business. Small business is
the source of two out of three new jobs. So I propose more credit
the
engine
for small business. Lower taxes. And less regulation. That will that
will proper
create jobs.
this forward economy
Second, we've got to open new markets for American products.
The North American Free Trade Agreement with Canada and Mexico will
create 200,000 jobs -- and that's just the beginning. We need
lower barriers to our products around the world.
Third, we've got to help get businesses ready to compete in
this global economy. That means investment in R&D and in new
technologies like computers, lighter and stronger materials, and
biotechnology. Bill Clinton talks about it. We're already doing
it -- advancing whole new technologies, and freeing the private
sector to develop exciting new applications and products.
Getting business ready to compete means reforming our legal
system to cut down on the number of frivolous lawsuits. Last year,
there were 18 million lawsuits filed in this country. And 70
percent of the world's lawyers live here in America. I want to
make sure we lead the world in the production of goods and
services, not the production of lawyers.
Fourth, if we're going to compete in the long run, we've got
5
to improve our schools and train our workers. I've reform increased the
(port)
education budget by 41 percent. But we need more accountability
It means more Tocal
control
That means testing teachers and students. And it means giving
and
parents the choice of the best schools for their children --
flexibility
public, private, or religious.
Bill Clinton would stand in the way of this idea -- but the
American people want it. One recent Gallup survey found that 70%
of Americans favor full school choice.
Fifth, if we're going to create economic security for all
Americans, we need health care reform. My plan makes health
insurance affordable for all Americans. And it makes it possible
to go from one job to another without fear of losing insurance.
Last but not least, we can and must do all these things while
holding the line on spending and taxes. My plan would control the
growth of mandatory government spending. It would reduce taxes on
the American people. And it's time for a balanced budget
amendment; a line item veto; and a taxpayer checkoff to cut
spending and cut the deficit --- because if Congress won't cut
spending, they should let the people do it for them.
Now I ask you to compare each of those six points with
Governor Clinton's plan.
Small business. Governor Clinton's plan would crush small
business. New payroll taxes for health care. New payroll taxes
for training. More regulation. More paperwork. Governor Clinton
Good 3804.)
has a plan for small business. He would make every big business
small. And he would make every small business non-existent.
6
New markets through free and fair trade. One day, Governor
Clinton says he's for it. Then the next he says he'd put
conditions on his support. And here's the most telling evidence
of his true beliefs. Newsweek magazine, then the British papers,
and now other news organizations have reported that Governor
Clinton's representatives have been working to make sure that we
don't get a GATT agreement and the expanded trade that would come
with it.
If these reports are correct, Governor Clinton is letting
American jobs take a back seat to his political ambitions. That's
cynical. It's irresponsible. And it's wrong.
You know, the New York Times finally got one Clinton ally who
had a meeting with top EC officials in Washington to come forward.
Now this Washington lawyer says he was acting on his own. Do you
believe that? Top level EC officials just decide to meet a guy who
walks in off the street, representing himself. They send cables
back to Europe reporting on his message. Governor Clinton should
come clean: did anyone in his campaign or advising it set up the
meeting? Did the Clinton foreign policy advisors who met European
officials on a recent tour of Europe state a position on our
ongoing negotiations?
Then there's legal reform. It's simple -- Governor Clinton
3804
opposes it. The trial lawyers support and fund his campaign. And
they won't let him support it. That may be right for his campaign
Good
coffers, but it's wrong for America.
Education reform. Same problem. The education lobby, and the
7
National Education Association don't want true school choice. So
Governor Clinton opposes it.
Health care reform. Governor Clinton's plan is simple: new
payroll taxes. Government boards to fix prices, leading inevitably
to rationing of services. Last time the government tried to
allocate something it was gasoline. It didn't work. Jimmy Carter
had long gas lines. Bill Clinton now offers lines at the doctor's
office.
And taxes and spending. Here is the clearest difference of
all. Governor Clinton's plan proposes a $150 billion tax increase
-- the largest in American history.
Yet here's the irony. There isn't a serious economist who
thinks that raising taxes will create jobs.
In fact, economists estimate that health care payroll taxes
on.vehicle fuel emissions
Moin
3804
will destroy 700,000 jobs. CAFE standards will kill 300,000 jobs
Radical defense cuts will wipe out an additional 1 million jobs.
There's a name for Governor Clinton's brand of no-growth,
high-tax economics: trample down economics. It will trample down
growth. It will trample down small business. It will trample down
jobs.
Let me bring this message home -- right here -- in Michigan.
We all know it: General Motors, the biggest company in the world,
is going through a time of upheaval. I believe GM can turn it
around. Quality is improving. They make good products. They have
the best workers in the world.
And this much is absolutely clear. The last thing that GM
8
needs now is higher taxes and extreme government mandates that will
dictate what sort of cars and trucks have to be built. Does anyone
seriously believe that when GM is down, higher taxes will help it
recover? Does Governor Clinton really believe that Michigan
workers will benefit from more regulation and higher CAFE
standards?
Face facts: these things will not help save GM jobs. They
will destroy them.
Yet higher taxes, more regulation, and higher CAFE standards
are what Governor Clinton offers.
At the debate in East Lansing a few weeks ago, Bill Clinton
looked right in the camera and said that higher CAFE standards were
only a goal. He said, quote, "I defy anyone to find where we said
it should be in legislation."
Yet let me quote something else. It's from the Bill Clinton
for President Committee, "National Energy Policy," dated Spring
1992, and here's what it says: -- quote -- "I support an increase
in corporate average fuel economy standards from the current 27.5
miles per gallon
The 45 miles per gallon standard should
be
incorporated into national legislation."
And here's another quote. It's from page 90 of Governor
Clinton's own plan. It says -- quote -- "Increase corporate
average fuel economy standards from the current 27.5 miles per
gallon to 40 miles per gallon by the year 2000, and 45 miles per
gallon by 2015. "
So here is the fact: Governor Clinton stared into that camera
9
with a look of sincerity and spoke words that were not sincere.
And that is part of a pattern. He said on August 12th that
his health plan would include a payroll tax. He said in September
that it wouldn't. He said in January he wouldn't rule out term
limits for Congressmen. Then he said in July he opposed term
Bill Clinton's economic slight of hand is like
limits.
This is part of a pattern -- a pattern that is dangerous for
Michigan workers, and dangerous for America.)
You see, Governor Clinton is trying to pull a fast one on the
American people. He brags about job growth this year in Arkansas.
But he doesn't tell you that throughout the 1980s, job growth in
bungey jumping. You think
but you always end
Arkansas was 30% below the national average.
And he doesn't tell you this: this week, the Toledo Blade
reported that Arkansas lured companies from the Midwest with low
your leg pulled
wages and lax environmental laws. The Blade headline asked the
right question. It read: "Job Growth, or Job Theft?"
In the end, the choice before the voters on Tuesday is very
clear. Our economy is moving through recovery to expansion.
Governor Clinton's plan will reverse course and stop the recovery
in its tracks.
Over the last 12 years, we have succeeded in reducing taxes
on the American people. Governor Clinton will reverse course and
raise them.
And around the world, people are choosing the path America has
blazed -- freer markets, less government control, more power for
the individual. Governor Clinton will reverse course and send us
10
the other way.
When you step into that voting booth on Tuesday, consider
which plan you think will help create jobs for America. My plan
of open markets, better schools, help for small business, lower
taxes, and less government spending. or Governor Clinton's plan
of higher taxes, more spending, and more government.
Remember this: when you make your choice, there is no refund.
No margin for error. No turning back if a mistake is made.
America's future is too important to be put at risk with policies
that are wrong for America.
Ladies and gentlemen, the choice is clear. I need your
support, and I ask for your vote.
Thank you, God bless you, and God bless the United States of
America.
#
#
#
#
#
Document No. 359617ss
WHITE HOUSE STAFFING MEMORANDUM
92 OCT 29 A10: 56
DATE: 10/28/92
ACTION/CONCURRENCE/COMMENT DUE BY: A.S.A.P.
PRESIDENTIAL REMARKS: ECONOMIC SPEECH
DOWN RIVER, MICHIGAN
SUBJECT:
OCT. 29, 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
HOLIDAY
>
MCGROARTY
HORNER
GROOMES
29
BOSKIN
REMARKS:
OCT
Please provide comments on the attached directly to
Dan McGroarty, Rm. 122, x2930, with a copy to this office
A.S.A.P. Thank you.
RESPONSE:
PHILLIP D. BRADY
Assistant to the President
and Staff Secretary
Ext. 2702
((Grady 10/28/92))
PRESIDENTIAL REMARKS:
ECONOMIC SPEECH
DOWN RIVER, MICHIGAN
OCTOBER 829R 619922
In just five days, you will make the most important choice you
can make in our democracy. The time for predictions and polls will
VOTING
be over -- you will step into the/booth, and be heard.
The choice you will make on election day is serious -- it is
one that will determine the future course of America for the next
AND WILL HAVE
four years -- with consequences that could extend far into the
future. You will choose who should lead this nation, and who
should lead the free world.
Governor Clinton and I agree on at least one thing in this
campaign -- the economy is the number one issue. But who do you
really trust to get us through and beyond our current problems -
STRENGTHEN
- to extend America's leadership? Each of us has offered a plan.
The issue is whose plan will help the economy grow and create jobs
-- mine or Governor Clinton's.
First, let's have some straight talk about our current
situation -- about both the strengths and weaknesses of the economy
today.
Here are the facts. Growth has been too slow. But we are
growing. We have just finished our sixth straight quarter of
growth. That is not a recession. In the last quarter, we grew
twice as fast as Japan. Meanwhile, Germany's growth was negative.
Now you've all seen Governor Clinton recite his facts. The
last person I heard race through that many statistics sold me a
2
VEERING TO THE
used car -- it was a lemon; it kept swinging left.
s
Take Governor Clinton's claim) about our economic performance.
Frankly, when he makes comparisons, Governor Clinton slips right
past the fact that the last time WO brought together a Democratic
GOT TOBETHER, THEY
President and a Democratic Congress/ we triggered the worst four
year decline in our economy in 50 years. From 1978 to 1982, the
economic policies of the other side actually shrunk the economy.
In contrast, since the end of 1988, our economy has grown by over
4 1/2 percent.
The worst economic performance since the Depression belongs
to Bill Clinton's soulmate Jimmy Carter. His last year in office,
1980, witnessed the single greatest fall in average family income -
- 3.4%. We dug ourselves out of that recession and generated 20
DRIVE
million new jobs in 10 years. Bill Clinton would throw us back in
the ditch.
Look at some further evidence. Inflation today is running at
just under 3% per year. The last time we had a Democratic Congress
and a Democratic President, inflation rose to 13.5%. Jimmy
Carter's policies drove interest rates as high as 21.5 percent.
Today, the prime rate is 6 percent, and mortgage interest rates are
the lowest they have been in a generation. Lower interest rates
have allowed those who refinance their homes to save $2,000 a year
in mortgage payments.
The bond market is already responding to Bill Clinton's
program of more spending and higher deficits. Interest rates have
begun to rise with reports that he will launch a spending binge
3
with no compensating budgetary control. So don't kid yourself.
The markets are voting with their feet. Bill Clinton's plan will
lead to higher interest rates. And that will put a brake on the
economy just when we need to hit the accelerator.
You might ask, how is it that these facts haven't been
reported to the American people? And that, indeed, is a very good
question.
Not long ago, ABC's Nightline sponsored a "Town Meeting" at
Rice University in Houston, Texas. Ted Koppel, the host, asked the
audience first to slap if they thought the national media had been
biased in favor of Governor Clinton and against my candidacy. The
THEY
applause was thunderous. Then he asked them to clap if the thought
TED
it had been the other way around. Near silence. Koppel
was
SURPRISED shecked. But most people were not.
A recent study by the Center for Media and Public Affairs
revealed that 96% of the stories about the economy over the last
three months have been negative. Only one in twenty five presented
some balance d That's a higher ratio of negative stories than
A
VIEW.
during the recession itself.
IT IS LITTLE
So no wonder consumer confidence is low. Dan Rather and Bill
Clinton have formed a tag team so that reporting on the economy has
the truth L and I authenticity of professional wrestling.
But American workers haven't been wrestled to the ground.
They are the most productive in the world. The American people
ENJOY
have the highest standard of living.
And in a few days, you can ignore the pundits and the so-
4
called experts, and rely on your own common sense.
The question before America next Tuesday is: what set of
policies will keep America number one? It comes down to this:
STRENGTHEN
IC GROWTH
whose plan will help the economy grow and create jobs?
Here is my plan.
First, we have got to help small business. Small business 16
CREATE
the source of two out of three new jobs. So I propose more credit
for small business. Lower taxes. And less regulation. That will
HELP
L
create jobs.
CONTINUE TO
Second, we've got to open new markets for American products.
The North American Free Trade Agreement with Canada and Mexico will
AMERICAN
create 200,000 h jobs -- and that's just the beginning. We need
lower barriers to our products around the world.
Third, we've got to help get businesses ready to compete in
this global economy. That means investment in R&D and in new
technologies like computers, lighter and stronger materials, and
biotechnology. Bill Clinton talks about it. We're already doing
it -- advancing whole new technologies, and freeing the private
sector to develop exciting new applications and products.
Getting business ready to compete means reforming our legal
system to cut down on the number of frivolous lawsuits. Last year,
there were 18 million lawsuits filed in this country. And 70
percent of the world's lawyers live here in America. I want to
make sure we lead the world in the production of goods and
FRIVOLOUS LAWSUITS.
services, not the production of lawyers.
Fourth, if we're going to compete in the long run, we've got
5
to improve our schools and train our workers. I've increased the
education budget by 41 percent. But we need more accountability.
NATIONAL STANDARDS AND VOWNTARY NATIONAL TESTS. IT MEANS MORE
That means testing teachers and students. And it means giving
parents the choice of the best schools for their children --
public, private, or religious.
Bill Clinton would stand in the way of this idea -- but the
American people want it. One recent Gallup survey found that 70%
of Americans favor full school choice.
Fifth, if we're going to create economic security for all
INNOVATION AND MOKE FLEXIBIUTY.
Americans, we need health care reform. My plan makes health
insurance affordable for all Americans. And it makes it possible
to go from one job to another without fear of losing insurance.
Last but not least, we can and must do all these things while
holding the line on spending and taxes. My plan would control the
growth of mandatory government spending. It would reduce taxes on
the American people. And it's time for a balanced budget
amendment; a line item veto; and a taxpayer checkoff to cut
spending and cut the deficit --- because if Congress won't cut
spending, they should let the people do it for them.
Now I ask you to compare each of those six points with
Governor Clinton's plan.
Small business. Governor Clinton's plan would crush small
business. New payroll taxes for health care. New payroll taxes
for training. More regulation. More paperwork. Governor clinton's
WOULD BURDEN AND DISCOURAGE
has a plan for small business, He would make every big business
ENTREPRENEURS AND LOSE JOBS WHEN WE NEED TO BE CREATING THEM.
small. And he would make every small business non-existent.
6
New markets through free and fair trade. One day, Governor
Clinton says he's for it: Then the next he says he'd put
conditions on his support. And here's the most telling evidence
of his true beliefs. Newsweek magazine, then the British papers,
and now other news organizations have reported that Governor
Clinton's representatives have been working to make sure that we
don't get a GATT agreement and the expanded trade that would come
with it.
If these reports are correct, Governor Clinton is letting
American jobs take a back seat to his political ambitions. That's
cynical. It's irresponsible. And it's wrong.
You know, the New York Times finally got one Clinton ally who
had a meeting with top EC officials in Washington to come forward.
Now this Washington lawyer says he was acting on his own. Do you
believe that? Top level EC officials just decide to meet a guy who
walks in off the street, representing himself. They send cables
back to Europe reporting on his message. Governor Clinton should
come clean: did anyone in his campaign or advising it set up the
meeting? Did the Clinton foreign policy advisors who met European
officials on a recent tour of Europe state a position on our
ongoing negotiations?
Then there's legal reform. It's simple -- Governor Clinton
opposes it. The trial lawyers support and fund his campaign. And
they won't let him support it. That may be right for his campaign
coffers, but it's wrong for America.
Education reform. Same problem. The education lobby, and the
7.
National Education Association don't want true school choice. So
Governor Clinton opposes it.
Health care reform. Governor Clinton's plan is simple: new
payroll taxes AND, Government boards to fix prices, leading inevitably
to rationing of services. Last time the government tried to
allocate something it was gasoline. It didn't work. Jimmy Carter
had long gas lines. Bill Clinton now offers lines at the doctor's
office.
And taxes and spending. Here is the clearest difference of
all. Governor Clinton's plan proposes a $150 billion tax increase
-- the largest in American history.
Yet here's the irony. There isn't a serious economist who
thinks that raising taxes will create jobs.
In fact, economists estimate that health care payroll taxes
will destroy 700,000 jobs. CAFE standards will kill 300,000 jobs.
Radical defense cuts will wipe out an additional 1 million jobs.
There's a name for Governor Clinton's brand of no-growth,
high-tax economics: trample down economics. It will trample down
growth. It will trample down small business. It will trample down
jobs.
Let me bring this message home -- right here -- in Michigan.
We all know it: General Motors, the biggest company in the world,
is going through a time of upheaval. I believe GM can turn it
around. Quality is improving. They make good products. They have
the best workers in the world.
And this much is absolutely clear. The last thing that GM
8
INFLEXIBUE
needs now is higher taxes and extreme government mandates that will
dictate what sort of cars and trucks have to be built. Does anyone
GM
seriously believe that when GM is down, higher taxes will help it
recover? Does Governor Clinton really believe that Michigan
workers will benefit from more regulation and higher CAFE
standards?
Face facts: these things will not help save GM jobs. They
will destroy them.
Yet higher taxes, more regulation, and higher CAFE standards
are what Governor Clinton offers.
At the debate in East Lansing a few weeks ago, Bill Clinton
looked right in the camera and said that higher CAFE standards were
only a goal. He said, quote, "I defy anyone to find where we said
it should be in legislation."
Yet let me quote something else. It's from the Bill Clinton
for President Committee, "National Energy Policy," dated Spring
1992, and here's what it says: -- quote -- "I support an increase
in corporate average fuel economy standards from the current 27.5
miles per gallon
The 45 miles per gallon standard should
be
incorporated into national legislation."
And here's another quote. It's from page 90 of Governor
Clinton's own plan. It says -- quote -- "Increase corporate
average fuel economy standards from the current 27.5 miles per
gallon to 40 miles per gallon by the year 2000, and 45 miles per
gallon by 2015."
Se here is the fact: Governor Clinton stared into that camera
9
with a look of sincerity and spoke words that were not sincere.
And that is part of a pattern. He said on August 12th that
his health plan would include a payroll tax. He said in September
that it wouldn't. He said in January he wouldn't rule out term
limits for Congressmen. Then he said in July he opposed term
limits.
This is part of a pattern -- a pattern that is dangerous for
Michigan workers, and dangerous for America.
You see, Governor Clinton is trying to pull a fast one on the
American people. He brags about job growth this year in Arkansas.
But he doesn't tell you that throughout the 1980s, job growth in
Arkansas was 30% below the national average.
And he doesn't tell you this: this week, the Toledo Blade
reported that Arkansas lured companies from the Midwest with low
wages and lax environmental laws. The Blade headline asked the
right question. It read: "Job Growth, or Job Theft?"
In the end, the choice before the voters on Tuesday is very
clear. Our economy is moving through recovery to expansion.
Governor Clinton's plan will reverse course and stop the recovery
in its tracks.
Over the last 12 years, we have succeeded in reducing taxes
on the American people. Governor Clinton will reverse course and
raise them.
And around the world, people are choosing the path America has
blazed -- freer markets, less government control, more power for
the individual. Governor Clinton will reverse course and send us
10
the other way.
When you step into that voting booth on Tuesday, consider
which plan you think will help create jobs for America. My plan
of open markets, better schools, help for small business, lower
taxes, and less government spending. or Governor Clinton's plan
MORE MANDATES
of higher taxes, more spending, and more government.
Remember this: when you make your choice, there is no refund.
No margin for error. No turning back if a mistake is made.
America's future is too important to be put at risk with policies
that are wrong for America.
Ladies and gentlemen, the choice is clear. I need your
support, and I ask for your vote.
Thank you, God bless you, and God bless the United States of
America.
#
#
#
#
#
((Grady 10/28/92))
PRESIDENTIAL REMARKS:
ECONOMIC SPEECH
DOWN RIVER, MICHIGAN
OCTOBER 29R 619922
In just five days, you will make the most important choice you
can make in our democracy. The time for predictions and polls will
be over -- you will step into the booth, and be heard.
The choice you will make on election day is serious -- it is
one that will determine the future course of America for the next
four years -- with consequences that could extend far into the
future. You will choose who should lead this nation, and who
should lead the free world.
Governor Clinton and I agree on at least one thing in this
campaign -- the economy is the number one issue. But who do you
really trust to get us through and beyond our current problems -
- to extend America's leadership? Each of us has offered a plan.
The issue is whose plan will help the economy grow and create jobs
-- mine or Governor Clinton's.
First, let's have some straight talk about our current
situation -- about both the strengths and weaknesses of the economy
today.
Here are the facts. Growth has been too slow. But we are
growing. We have just finished our sixth straight quarter of
growth. That is not a recession. In the last quarter, we grew
twice as fast as Japan. Meanwhile, Germany's growth was negative.
Now you've all seen Governor Clinton recite his facts. The
last person I heard race through that many statistics sold me a
2
used car -- it was a lemon; it kept swinging left.
Take Governor Clinton's claim about our economic performance.
Frankly, when he makes comparisons, Governor Clinton slips right
past the fact that the last time we brought together a Democratic
President and a Democratic Congress, we triggered the worst four
year decline in our economy in 50 years. From 1978 to 1982, the
economic policies of the other side actually shrunk the economy.
In contrast, since the end of 1988, our economy has grown by over
4 1/2 percent.
The worst economic performance since the Depression belongs
to Bill Clinton's soulmate Jimmy Carter. His last year in office,
1980, witnessed the single greatest fall in average family income -
-
3.4%. We dug ourselves out of that recession and generated 20
million new jobs in 10 years. Bill Clinton would throw us back in
the ditch.
Look at some further evidence. Inflation today is running at
just under 3% per year. The last time we had a Democratic Congress
and a Democratic President, inflation rose to 13.5%. Jimmy
Carter's policies drove interest rates as high as 21.5 percent.
Today, the prime rate is 6 percent, and mortgage interest rates are
the lowest they have been in a generation. Lower interest rates
have allowed those who refinance their homes to save $2,000 a year
in mortgage payments.
The bond market is already responding to Bill Clinton's
program of more spending and higher deficits. Interest rates have
begun to rise with reports that he will launch a spending binge
3
with no compensating budgetary control. So don't kid yourself.
The markets are voting with their feet. Bill Clinton's plan will
lead to higher interest rates. And that will put a brake on the
economy just when we need to hit the accelerator.
You might ask, how is it that these facts haven't been
reported to the American people? And that, indeed, is a very good
question.
Not long ago, ABC's Nightline sponsored a "Town Meeting" at
Rice University in Houston, Texas. Ted Koppel, the host, asked the
audience first to clap if they thought the national media had been
biased in favor of Governor Clinton and against my candidacy. The
applause was thunderous. Then he asked them to clap if the thought
it had been the other way around. Near silence. Koppel was
shocked. But most people were not.
A recent study by the Center for Media and Public Affairs
revealed that 96% of the stories about the economy over the last
three months have been negative. Only one in twenty five presented
some balance. That's a higher ratio of negative stories than
during the recession itself.
So no wonder consumer confidence is low. Dan Rather and Bill
Clinton have formed a tag team so that reporting on the economy has
all the truth and authenticity of professional wrestling.
But American workers haven't been wrestled to the ground.
They are the most productive in the world. The American people
have the highest standard of living.
And in a few days, you can ignore the pundits and the so-
4
called experts, and rely on your own common sense.
The question before America next Tuesday is: what set of
policies will keep America number one? It comes down to this:
whose plan will help the economy grow and create jobs?
Here is my plan.
First, we have got to help small business. Small business is
the source of two out of three new jobs. So I propose more credit
for small business. Lower taxes. And less regulation. That will
create jobs.
Second, we've got to open new markets for American products.
The North American Free Trade Agreement with Canada and Mexico will
create 200,000 jobs -- and that's just the beginning. We need
lower barriers to our products around the world.
Third, we've got to help get businesses ready to compete in
this global economy. That means investment in R&D and in new
technologies like computers, lighter and stronger materials, and
biotechnology. Bill Clinton talks about it. We're already doing
it -- advancing whole new technologies, and freeing the private
sector to develop exciting new applications and products.
Getting business ready to compete means reforming our legal
system to cut down on the number of frivolous lawsuits. Last year,
there were 18 million lawsuits filed in this country. And 70
percent of the world's lawyers live here in America. I want to
make sure we lead the world in the production of goods and
services, not the production of lawyers.
Fourth, if we're going to compete in the long run, we've got
5
to improve our schools and train our workers. I've increased the
education budget by 41 percent. But we need more accountability.
That means testing teachers and students. And it means giving
parents the choice of the best schools for their children --
public, private, or religious.
Bill Clinton would stand in the way of this idea -- but the
American people want it. One recent Gallup survey found that 70%
of Americans favor full school choice.
Fifth, if we're going to create economic security for all
Americans, we need health care reform. My plan makes health
insurance affordable for all Americans. And it makes it possible
to go from one job to another without fear of losing insurance.
Last but not least, we can and must do all these things while
holding the line on spending and taxes. My plan would control the
growth of mandatory government spending. It would reduce taxes on
the American people. And it's time for a balanced budget
amendment; a line item veto; and a taxpayer checkoff to cut
spending and cut the deficit --- because if Congress won't cut
spending, they should let the people do it for them.
Now I ask you to compare each of those six points with
Governor Clinton's plan.
Small business. Governor Clinton's plan would crush small
business. New payroll taxes for health care. New payroll taxes
for training. More regulation. More paperwork. Governor Clinton
has a plan for small business. He would make every big business
small. And he would make every small business non-existent.
6
New markets through free and fair trade. One day, Governor
Clinton says he's for it. Then the next he says he'd put
conditions on his support. And here's the most telling evidence
of his true beliefs. Newsweek magazine, then the British papers,
and now other news organizations have reported that Governor
Clinton's representatives have been working to make sure that we
don't get a GATT agreement and the expanded trade that would come
with it.
If these reports are correct, Governor Clinton is letting
American jobs take a back seat to his political ambitions. That's
cynical. It's irresponsible. And it's wrong.
You know, the New York Times finally got one Clinton ally who
had a meeting with top EC officials in Washington to come forward.
Now this Washington lawyer says he was acting on his own. Do you
believe that? Top level EC officials just decide to meet a guy who
walks in off the street, representing himself. They send cables
back to Europe reporting on his message. Governor Clinton should
come clean: did anyone in his campaign or advising it set up the
meeting? Did the Clinton foreign policy advisors who met European
officials on a recent tour of Europe state a position on our
ongoing negotiations?
Then there's legal reform. It's simple -- Governor Clinton
opposes it. The trial lawyers support and fund his campaign. And
they won't let him support it. That may be right for his campaign
coffers, but it's wrong for America.
Education reform. Same problem. The education lobby, and the
7
National Education Association don't want true school choice. So
Governor Clinton opposes it.
Health care reform. Governor Clinton's plan is simple: new
payroll taxes. Government boards to fix prices, leading inevitably
to rationing of services. Last time the government tried to
allocate something it was gasoline. It didn't work. Jimmy Carter
had long gas lines. Bill Clinton now offers lines at the doctor's
office.
And taxes and spending. Here is the clearest difference of
all. Governor Clinton's plan proposes a $150 billion tax increase
-- the largest in American history.
Yet here's the irony. There isn't a serious economist who
thinks that raising taxes will create jobs.
In fact, economists estimate that health care payroll taxes
will destroy 700,000 jobs. CAFE standards will kill 300,000 jobs.
Radical defense cuts will wipe out an additional 1 million jobs.
There's a name for Governor Clinton's brand of no-growth,
high-tax economics: trample down economics. It will trample down
growth. It will trample down small business. It will trample down
jobs.
Let me bring this message home -- right here -- in Michigan.
We all know it: General Motors, the biggest company in the world,
is going through a time of upheaval. I believe GM can turn it
around. Quality is improving. They make good products. They have
the best workers in the world.
And this much is absolutely clear. The last thing that GM
8
needs now is higher taxes and extreme government mandates that will
dictate what sort of cars and trucks have to be built. Does anyone
seriously believe that when GM is down, higher taxes will help it
recover? Does Governor Clinton really believe that Michigan
workers will benefit from more regulation and higher CAFE
standards?
Face facts: these things will not help save GM jobs. They
will destroy them.
Yet higher taxes, more regulation, and higher CAFE standards
are what Governor Clinton offers.
At the debate in East Lansing a few weeks ago, Bill Clinton
looked right in the camera and said that higher CAFE standards were
only a goal. He said, quote, "I defy anyone to find where we said
it should be in legislation."
Yet let me quote something else. It's from the Bill Clinton
for President Committee, "National Energy Policy," dated Spring
1992, and here's what it says: -- quote -- "I support an increase
in corporate average fuel economy standards from the current 27.5
miles per gallon
The 45 miles per gallon standard should
be incorporated into national legislation."
And here's another quote. It's from page 90 of Governor
Clinton's own plan. It says -- quote -- "Increase corporate
average fuel economy standards from the current 27.5 miles per
gallon to 40 miles per gallon by the year 2000, and 45 miles per
gallon by 2015."
So here is the fact: Governor Clinton stared into that camera
9
with a look of sincerity and spoke words that were not sincere.
And that is part of a pattern. He said on August 12th that
his health plan would include a payroll tax. He said in September
that it wouldn't. He said in January he wouldn't rule out term
limits for Congressmen. Then he said in July he opposed term
limits.
This is part of a pattern -- a pattern that is dangerous for
Michigan workers, and dangerous for America.
You see, Governor Clinton is trying to pull a fast one on the
American people. He brags about job growth this year in Arkansas.
But he doesn't tell you that throughout the 1980s, job growth in
Arkansas was 30% below the national average.
And he doesn't tell you this: this week, the Toledo Blade
reported that Arkansas lured companies from the Midwest with low
wages and lax environmental laws. The Blade headline asked the
right question. It read: "Job Growth, or Job Theft?"
In the end, the choice before the voters on Tuesday is very
clear. Our economy is moving through recovery to expansion.
Governor Clinton's plan will reverse course and stop the recovery
in its tracks.
Over the last 12 years, we have succeeded in reducing taxes
on the American people. Governor Clinton will reverse course and
raise them.
And around the world, people are choosing the path America has
blazed -- freer markets, less government control, more power for
the individual. Governor Clinton will reverse course and send us
10
the other way.
When you step into that voting booth on Tuesday, consider
which plan you think will help create jobs for America. My plan
of open markets, better schools, help for small business, lower
taxes, and less government spending. or Governor Clinton's plan
of higher taxes, more spending, and more government.
Remember this: when you make your choice, there is no refund.
No margin for error. No turning back if a mistake is made.
America's future is too important to be put at risk with policies
that are wrong for America.
Ladies and gentlemen, the choice is clear. I need your
support, and I ask for your vote.
Thank you, God bless you, and God bless the United States of
America.
#
#
#
WHITE HOUSE COMMCTR URC-112
WED 28 OCT 92 23:36
PG.01
((Grady 10/27/92))
PRESIDENTIAL REMARKS:
ECONOMIC SPEECH
DOWN RIVER, MICHIGAN
OCTOBER 29, 1992
In just five days, you will make the most important choice you
can make in our democracy. The time for predictions and polls will
be over -- you will step into the booth, and be heard.
The choice you will make on election day is serious -- it is
one that will determine the future course of America for the next
four years -- with consequences that could extend far into the
future. You will choose who should lead this nation, and who
should lead the free world.
Governor Clinton and I agree on at least one thing in this
campaign -- the economy is the number one issue. But who do you
really trust to get us through and beyond our current problems --
to extend America's leadership? Each of us has offered a plan.
The issue is whose plan will help the economy grow and create jobs
-- mine or Governor Clinton's.
First, let's have some straight talk about our current
situation -- about both the strengths and weaknesses of the economy
today.
Here are the facts. Growth has been too slow. But we are
growing. We have just finished our sixth straight quarter of
growth. That is not a recession. In the last quarter, we grew
twice as fast as Japan. Meanwhile, Germany's growth was negative.
Now you've all seen Governor Clinton recite his facts. The
last person I heard race through that many statistics sold me a
used car -- it was a lemon; it kept swinging left.
WHITE HOUSE COMMCTR URC-112
WED 28 OCT 92 23:37
PG.02
2
Take Governor Clinton's claim about our economic performance.
Frankly, when he makes comparisons, Governor Clinton slips right
past the fact that the last time we brought together a Democratic
President and a Democratic Congress, we triggered the worst four
year decline in our economy in 50 years. From 1978 to 1982, the
economic policies of the other side actually shrunk the economy.
In contrast, since the end of 1988, our economy has grown by over
4 1/2 percent.
The worst economic performance since the Depression belongs to
Bill Clinton's soulmate Jimmy Carter. His last year in office,
1980, witnessed the single greatest fall in average family income -
- 3.4%. We dug ourselves out of that recession and generated 20
million new jobs in 10 years. Bill Clinton would throw us back in
the ditch.
Look at some further evidence. Inflation today is running at
just under 3% per year. The last time we had a Democratic Congress
and a Democratic President, inflation rose to 13.5%. Jimmy
Carter's policies drove interest rates as high as 21.5 percent.
Today, the prime rate is 6 percent, and mortgage interest rates are
the lowest they have been in a generation. Lower interest rates
have allowed those who refinance their homes to save $2,000 a year
in mortgage payments.
The bond market is already responding to Bill Clinton's
program of more spending and higher deficits. Interest rates have
begun to rise with reports that he will launch a spending binge
with no compensating budgetary control. So don't kid yourself.
WHITE HOUSE COMMCTR URC-112
WED 28 OCT 92 23:38
PG.03
3
The markets are voting with their feet. Bill Clinton's plan will
lead to higher interest rates. And that will put a brake on the
economy just when we need to hit the accelerator.
You might ask, how is it that these facts haven't been
reported to the American people? And that, indeed, is a very good
question.
Not long ago, ABC's Nightline sponsored a "Town Meeting" at
Rice University in Houston, Texas. Ted Koppel, the host, asked the
audience first to clap if they thought the national media had been
biased- in favor of Governor Clinton and against my candidacy. The
applause was thunderous. Then he asked them to clap if the thought
it had been the other way around. Near silence. Koppel was
shocked. But most people were not.
A recent study by the Center for Media and Public Affairs
revealed that 96% of the stories about the economy over the last
three months have been negative. Only one in twenty five presented
some balance. That's a higher ratio of negative stories than
during the recession itself.
So no wonder consumer confidence is low. Dan Rather and Bill
Clinton have formed a tag team so that reporting on the economy has
all the truth and authenticity of professional wrestling.
But American workers haven't been wrestled to the ground.
They are the most productive in the world. And the American people
have the highest standard of living.
The question before America next Tuesday is: what set of
policies will keep America number one? It comes down to this:
WHITE HOUSE COMMCTR URC-112
WED 28 OCT 92 23:39
PG.04
4
whose plan will help the economy grow and create jobs?
Here is my plan.
First, we have got to help small business. Small business is
the source of two out of three new jobs. So I propose more credit
for small business. Lower taxes. And less regulation. That will
create jobs.
Second, we've got to open new markets for American products.
The North American Free Trade Agreement with Canada and Mexico will
create 200,000 jobs -- and that's just the beginning. We need
lower barriers to our products around the world. And we should
sign a network of free trade agreements throughout the Americas.
Every one billion dollars in exports creates 20,000 American jobs.
Open markets means more exports. And that means more jobs here at
home.
Third, we've got to help get businesses ready to compete in
this global economy. That means investment in R&D and in new
technologies like computers, lighter and stronger materials, and
biotechnology. Bill Clinton talks about it. We're already doing
it -- advancing whole new technologies, and letting the private
sector develop exciting new applications and products.
Getting business ready to compete means reforming our legal
system to cut down on the number of frivolous lawsuits. Last year,
there were 18 million lawsuits filed in this country. And 70
percent of the world's lawyers live here in America. I want to
make sure we lead the world in the production of goods and
services, not the production of lawyers.
WHITE HOUSE COMMCTR URC-112
WED 28 OCT 92 23:39
PG.05
5
Fourth, if we're going to compete in the long run, we've got
to improve our schools and train our workers. I've increased the
education budget by 41 percent. But we need more accountability.
That means testing teachers and students. And it means giving
parents the choice of the best schools for their children --
public, private, or religious.
Bill Clinton would stand in the way of this idea -- but the
American people want it. One recent Gallup survey found that 70%
of Americans favor full school choice.
This year, politics got in the way of education reform.
Congress wanted to deny me a victory. So they wouldn't pass true
education reform. Maybe after the election Congress will worry
less about me and stop denying our children a victory.
But even without help from Congress, we're making headway.
Óver 2,000 communities and 45 states have joined our America 2000
crusade to improve America's schools.
Fifth, if we're going to create economic security for all
Americans, we need health care reform. My plan makes health
insurance affordable for all Americans. And it makes it possible
to go from one job to another without fear of losing insurance.
Last but not least, we can and must do all these things while
holding the line on spending and taxes. My plan would control the
growth of mandatory government spending. It would reduce taxes on
the American people. And it's time for a balanced budget
amendment; a line item veto; and a taxpayer checkoff to cut
spending and cut the deficit --- because if Congress won't cut
WHITE HOUSE COMMCTR URC-112
WED 28 OCT 92 23:40
FG.06
6
spending, they should let the people do it for them.
Now I ask you to compare each of those six points with
Governor Clinton's plan.
Small business. Governor Clinton's plan would crush small
business. New payroll taxes for health care. New payroll taxes
for training. More regulation. More paperwork. Governor Clinton
has a plan for small business. He would make every big business
small. And he would make every small business non-existent.
New markets through free and fair trade. Governor Clinton
says one day he's for it. Then the next he says he'd put
conditions on his support. And here's the most telling evidence of
his true beliefs. Newsweek magazine, then the British papers, and
now other news organizations have reported that Governor Clinton's
representatives have been working to make sure that we don't get a
GATT agreement and the expanded trade that would come with it.
Governor Clinton is letting American jobs take a back seat to
his political ambitions. That's cynical. It's irresponsible. And
it's wrong.
You know, the New York Times finally got the Clinton ally who
had the meeting, a Washington lawyer, to come forward -- but he
says he was acting on his own. That's not quite believable. EC
officials just decide to meet a guy who walks in off the street,
representing himself. Governor Clinton should come clean: did
anyone from his campaign set up the meeting?
Legal reform. It's simple -- Governor Clinton opposes it.
The trail lawyers support and fund his campaign. And they won't
WHITE HOUSE COMMCTR URC-112
WED 28 OCT 92 23:41
PG.07
7
let him support it. That may be right for his campaign coffers,
but it's wrong for America.
Education reform. Same problem. The education lobby, and the
National Education Association don't want true school choice. So
Governor Clinton opposes it.
Health care reform. Governor Clinton's plan is simple: new
payroll taxes. Government boards to fix prices, leading inevitably
to rationing of services. Last time the government tried to
allocate something it was gasoline. It didn't work. Jimmy Carter
had long gas lines. Bill Clinton now offers lines at the doctor's
office.
And taxes and spending. Here is the clearest difference of
all. Governor Clinton's plan proposes a $150 billion tax increase
-- the largest in American history.
Yet here's the irony. There isn't a serious economist who
thinks that raising taxes will create jobs.
In fact, economists estimate that health care payroll taxes
will destroy 700,000 jobs. CAFE standards will kill 300,000 jobs.
Radical defense cuts will wipe out an additional 1 million jobs.
There's a name for Governor Clinton's brand of no-growth,
high-tax economics: trample down economics. It will trample down
growth. It will trample down small business. It will trample down
jobs.
Let me put this in local perspective. This week we read about
major changes at General Motors, the biggest company in the world.
There is no question -- this is a time of upheaval for GM. I
8
believe GM can turn it around. Quality is improving. They make
good products. They have the best workers in the world.
But this much is clear. The last thing that GM needs now is
higher taxes. Does anyone seriously believe that when GM is down,
higher taxes will help it recover? Does Governor Clinton really
believe that Michigan workers will benefit from more regulation and
higher CAFE standards?
Face facts: these things will not help save GM jobs. They
will destroy them.
Yet higher taxes, more regulation, and higher CAFE standards
are what Governor Clinton offers.
At the debate in East Lansing a few weeks ago, Bill Clinton
looked right in the camera and said that higher CAFE standards were
only a goal. He said, quote, "I defy anyone to find where we said
it should be in legislation."
Yet let me quote something else. It's from the Bill Clinton
for President Committee, "National Energy Policy," dated spring
1992, and here's what it says: -- quote -- "I support an increase
in corporate average fuel economy standards from the current 27.5
miles per gallon.. The 45 miles per gallon standard should
be
incorporated into national legislation."
And here's another quote. It's from page 90 of Governor
Clinton's own book. It says -- quote -- "Increase corporate
average fuel economy standards from the current 27.5 miles per
gallon to 40 miles per gallon by the year 2000, and 45 miles per
gallon by 2015. "
WED 28 UCI IC 23:42
PG.09
9
So here is the fact: Governor Clinton stared into that camera
with a look of sincerity and spoke words that were not sincere.
And that is part of a pattern. He said on August 12th that
his health plan would include a payroll tax. He said in September
that it wouldn't. He said in January he wouldn't rule out term
limits for Congressmen. Then he said in July he opposed term
limits.
This is part of a pattern -- a pattern that is dangerous for
Michigan workers, and dangerous for America.
You see, Governor Clinton is trying to pull a fast one on the
American people. He brags about job growth this year in Arkansas.
But he doesn't tell you that throughout the 1980s, job growth in
Arkansas was 30% below the national average.
And he doesn't tell you this: this week, the Toledo Blade
reported that Arkansas lured companies from the Midwest with low
wages and lax environmental laws. The Blade headline asked the
right question. It read: "Job Growth, or Job Theft?"
In the end, the choice before the voters on Tuesday is very
clear. Our economy is moving through recovery to expansion.
Governor Clinton's plan will reverse course and stop the recovery
in its tracks.
Over the last 12 years, we have succeeded in reducing taxes on
the American people. Governor Clinton will reverse course and
raise them.
And around the world, people are choosing the path America has
blazed -- freer markets, less government control, more power for
the individual. Governor Clinton will reverse course and send us
the other way.
When you step into that voting booth on Tuesday, consider
which plan you think will help create jobs for America. My plan of
open markets, better schools, help for small business, lower taxes,
and less government spending. Or Governor Clinton's plan of higher
taxes, more spending, and more government.
Remember this: when you make your choice, there is no refund.
No margin for error. No turning back if a mistake is made.
America's future is too important to be put at risk with policies
that are wrong for America.
Ladies and gentlemen, the choice is clear. I need your
support, and I ask for your vote.
Thank you, God bless you, and God bless the United States of
Ámerica.
#
#
#
#
#