From: bing@jazz.concert.net (Carter E. Bing)
Subject: Clinton on the Economy
Organization: MCNC Center for Communications -- CONCERT Network
Date: Thu, 15 Oct 1992 14:35:01 GMT




[Charles Fishman, editor]       Please Distribute               10/08/92

THE ESSENTIAL BILL CLINTON: THE ECONOMY (Part I)


"The incumbent president says unemployment always goes up a
little before a recovery begins.  But unemployment only has
to go up by one more person before a real recovery can
begin.  And, Mr. President, you are that man.



THE VISION
---------------------------
"I want a government that works with business to spur
growth, create jobs, and increase incomes.  I want a
streamlined government that does what the government of
every other advanced country does: work aggressively
promoting private sector growth."

"At the end of World War II, when I was born, our country
rebuilt Europe and Japan.  At the end of the Cold War, we
must rebuild our own nation, re-train our people, re-tool
our factories, revitalize our business sector, restore our
ability to compete."

"Surely we can do for America what we once did for Europe
and Japan.  If we do not, make no mistake about it, we can
go from being a military superpower to an economic has-been
in one generation."

"I know that entrepreneurs need less regulation, not more.
I know that small businesses need more credit, not less.
And I know that exploding health care costs place a heavy
burden on small businesses."

"A Clinton Administration will meet these challenges head
on--and create an environment where entrepreneurs and
government can work together in a real partnership."




PUTTING PEOPLE FIRST
---------------------------
"we have two deficits: a budget deficit and an investment
deficit.  And we cannot grow this economy until we put
people back to work, and until we invest in those things
that will give us a high wage, high growth future."

"And so I have put before the American people a plan I call
'Putting People First.'  It says we don't mind people making
money.  I want to make a lot of millionaires during my term
as President, but. . . .  I'd like for them to make it the
old-fashioned way by putting the rest of America back to
work, not by cutting deals or moving jobs. . . ."

[My plan is to] "put the American people first.  Invest in
their potential, in their jobs, their education, their
health care.

[To] make government a partner with business and labor and
education [and to] help America compete and win in the
global economy. . . .


A FALSE IDEA
---------------------------
"Our country has been in the grip of the false idea. . . .
The idea was advanced by our [last two] presidents but has
been ratified by our Congress, that if you just cut taxes on
the wealthiest Americans and on our corporations at high
incomes and got out of the way, they would invest, take care
of all the rest, and we would grow.  Well, it was a bad
idea.  And it hasn't worked that way.  Seventy percent of
the economic growth for a dozen years has gone to the top
one percent of our people."

"for the first time in 70 years, the top one percent of
Americans control more wealth than the bottom 90 percent."

"don't let anybody tell you that we can grow this economy
again without more investment.  We're investing less in high
speed rail, and new airplane transportation, and new highway
technologies, and new water and sewer and waste systems;
things that would put millions of people to work."

"We are told we can not afford $50 billion a year but
Taiwan, Taiwan, a country less than one-tenth our size, is
spending $50 billion a year in the next six years to build
new roads, to build new industrial technology, to clean up
their environment.  They have decided that they want to be
as rich as Germany and Japan and the United States, and you
know something, they will be, and then some, unless we do
what it takes to invest in our country.



WHAT MUST BE DONE
---------------------------
"Give up the idea of a capital gains tax cut that doesn't
distinguish between short-term investments in speculation
and long-term investments in new technologies and new jobs.

"Make America the best educated, best trained, best paid
work force in the world, linked by the world's best systems
of transportation and communications.

Invest in civilian research and development.  Turn American
innovation in the laboratories into American jobs in the
factories.  Open the doors of college opportunity to all
Americans.  Take on health care cost increases . . . and
provide a basic package of affordable health care to every
family in this country.

Reinvest every last dollar of defense cuts in retraining
defense workers, retooling plants, and reinvesting in an
American economy for the twenty-first century.

Rebuild our cities, our suburbs, our rural areas.  Ask the
wealthiest one percent of Americans to pay their fair share
of the taxes again. . . ."

"We should honor and encourage work, invest in our people,
rebuild our communities.  We should reward those who play by
the rules and do the reverse for those who don't.  Don't let
this election be about Willie Horton or Murphy Brown. . . .
Let us be bold and chart a new course."



RUNNING A TIGHTER SHIP
---------------------------
"I want to reduce the federal employment by 100,000, not by
firing people but by attrition.  There are 600,000 federal
employees who leave their jobs every year.  We can reduce
the size of the federal bureaucracy and put that money into
investing in our future."

"I want to cut the administrative and paperwork costs to the
federal government by three percent a year. . . .  I want to
freeze consultants' contracts, like those $600-an-hour
lawyer fees for the Resolution Trust Corporation in the S&L
bailout."

"we're going to cut 3% across the board out of the
administration of all the federal programs in the next three
years and put it into direct delivery of services to
people."

"I'm going to cut the White House staff by twenty-five
percent, ask the Congress to pass a bill cutting
Congressional staffs by twenty-five percent.  I'm going to
stop handing down mandates to you, and regulating you to
death, and not giving you the money to do it with."



INVESTMENT IN AMERICA
---------------------------
"We need a new direction in this country. . . .  we need a
partnership.  We cannot go forward unless we go forward
together, without regard to race or region or income.  We
need a partnership. . . .  And it can't be trickle down.
We've tried that for 12 years."

"We need a plan, a plan that puts people first, a plan that
says trickle down didn't work; we've got a $400 billion
deficit, so tax-and-spend won't work; we've got to invest
and educate, cooperate and grow.  We've got to create jobs
and incomes."


THE PRESCRIPTION
---------------------------
[the New Covenant] "says to entrepreneurs and business
people:  We will give you more incentives and more
opportunity than ever before to develop the skills of your
workers and create American jobs and American wealth in the
new global economy.  But you must do your part; you must be
responsible.  American companies must act like American
companies again--exporting products, not jobs."

"We also have to say to foreign companies, there's something
wrong with our tax code, if your income went up sixty-five
percent in the 1980s and your taxes went down fifteen
percent.  And that's exactly what happened.  You've got to
pay your fair share if you want to do business in this
country."

[This will be] "an America . . . in which the wealthiest
few--those making over $200,000 a year--are asked to pay
their fair share."

[This will be an America, in which] "when you can, you must
work, because welfare should be a second chance, not a way
of life."

"The end of the Cold War permits us to reduce defense
spending while still maintaining the strongest defense in
the world.  But we must plow back every dollar of defense
cuts into building American jobs right here at home."



THE ESSENTIAL BILL CLINTON: THE ECONOMY (Part II)



THE PLAN FOR CHANGE
---------------------------
"My plan is a bold plan.  It offers fifty billion dollars in
new investments over the next four years--in each of the
next four years.  New incentives for the private sector, an
investment tax credit, urban enterprise zones, new business
tax incentives, research and development incentives, and
others."

"It offers twenty billion dollars a year in hard federal
dollars, every year for the next four years, to build an
economy for the twenty-first century, to invest in new roads
and bridges and streets and rail systems, to develop high-
speed rail and a national fiber optic network, to develop
new environmental technologies to clean our waters and our
air, and to recycle more of our solid wastes.  In short, to
do those things we are not doing today.

"This twenty billion dollars will create a million jobs a
year in each of the next four years, driving funds into your
cities. . . .  It will enable us to spend more in
infrastructure, and in law enforcement, and in education,
and in social services. . . .  this will happen without
spending one red cent of state or local money or private
sector money."

"I support incentives for military personnel to earn
military retirement by taking jobs as teachers and police.
. . .  I want to retrain defense industry technicians for
work in critical civilian fields such as biotechnology,
renewable energy, and environmental cleanup."

"I want America to chart a new course, to depart from twelve
years of dominance by special interests and big government
that has given one percent of the American people at the top
more wealth than the bottom ninety percent for the first
time since the 1920's, [years] that have cost us our
economic leadership, our growth rates, and the reward for
work which ought to be part of the American Dream.  That
have undermined the strength of our families and have raised
the awful specter that we may be rearing the first
generation of Americans to do worse than their parents.



THE BUSH RECORD
---------------------------
The Bush/Quayle Administration has the worst record for
small business and economic growth since Herbert Hoover.

During the first three years of the Bush/Quayle
Administration, the number of new business incorporations
declined at a 3.3 percent annual rate, the first decline
since 1945 [Joint Economic Committee]

In 1991, 944,00 individuals and businesses filed for
bankruptcy--the highest number since the current U.S.
Bankruptcy Code took effect in 1979.  During the Bush
Administration, the number of personal  bankruptcies filed
exceeds net new jobs created by a 3-1 margin.
[Administrative Office of the U.S. Courts]

Since George Bush took office, no net private sector jobs
have been created, unemployment has increased by 3 million,
1.2 million manufacturing jobs have been lost, and real
weekly earnings have fallen by 4 percent.  [Bureau of Labor
Statistics, Department of Commerce]

The conservative Heritage Foundation recently concluded that
"although President Bush often complains about the burden
placed on the economy by excessive regulation, only Richard
Nixon in the last two decades has done more to add to this
burden."



THE CLINTON ALTERNATIVE
---------------------------
Under Bill Clinton's leadership, Arkansas has led the nation
in creating jobs, and the Arkansas Development Finance
Authority Clinton helped create has become a model in small
business financing assistance.

"Yesterday [10/3/92], in the Wall Street Journal, which is
hardly an arm of the Democratic Party, there was a huge
article on our administration in Arkansas, which said that
we had enjoyed solid job growth while we had kept taxing and
spending steady in a state with the second lowest overall
tax burden in the country."

"[In fact,] in my state, we led the country in the last year
in private sector job growth."

"When we raised money, we raised it on things that would
generate growth and income.  We spent all the money we
raised on education, on training, on new technology, on new
transportation systems, on investments in growth that would
increase wealth.  That is what we have to do as a country."

"the budgets [George Bush] has submitted have nearly doubled
the debt.  Even worse, he wasted billions and reduced our
investment in education and jobs.  We can do better."

"He has never balanced a government budget.  But I have,
eleven times."



ENDORSEMENTS:
---------------------------
Nobel Prize winning economists:
Paul Samuelson, MIT (1970)
Kenneth Arrow, Stanford (1972)
Lawrence Klein, Penn (1980)
James Tobin, Yale (1981)
Franco Modigliani, MIT (1985)
Robert Solow, MIT (1987)

Business and Professional Women's PAC, by unanimous vote.
The 7,000 participants at the B&PW convention in Minneapolis
made the first presidential endorsement in B&PW's 75-year
history.  Said Chairwoman, Mariwyn Heath (7/28/92, "This
political action committee looked at the voting records of
the candidates, their vetoes and the power that they use for
and against women, and took this bold step to endorse the
presidential ticket of Bill Clinton and Al Gore."

Roger Johnson, Chairman, Western Digital (member of the
Orange County Eight and one of 30 presidents or CEOs of some
of the nation's leading high-tech companies endorsing
Clinton):  "As a Republican who has voted for every GOP
presidential candidate since Eisenhower in 1952, it has been
an eye-opening experience to find that a Democratic governor
from Arkansas has a far better understanding of what America
needs than does an incumbent Republican Administration."

Delano Lewis, President and CEO, C&P Telephone:  "The
Clinton-Gore plan is an investment in people, in plant, and
in equipment, the elements that [will] generate private
sector investment and participation in national economic
recovery.  For business people who want to provide
employment opportunities, this plan makes absolute sense."

Kathryn Thompson, real estate developer (and member of the
Orange County Eight):  "Bill Clinton knows only an
economically strong America can preserve world peace and
promote expanding markets.  Bill Clinton can see past the
moment and therefore is the most qualified [presidential
candidate] in shaping history in America's best interest."

The Seattle Times (10/4/92):  Bush has provided over an
economy that has created the fewest jobs of any
administration since WWII. . . .  As Bush tries to blame
others, Clinton talks about the future with plans for
investments in educations and major jobs-training programs
and strengthening the public works that allow private
commerce to thrive."

AFL-CIO President, Lane Kirkland:  "Working people want a
government that fights to rebuild the country's economic
strength, provides fair opportunities and seeks--in the
words of the Pledge of Allegiance--"liberty and justice for
*all*."   [Meeting earlier this month, the AFL-CIO General
Board, composed of representatives from all 88 unions
affiliated with the federation, endorsed the Clinton-Gore
ticket.]

John P. White, former Issues Director, Perot Petition
Committee (10/5/92):  "Today, I am announcing my support for
Governor Bill Clinton for President of the United States.
. . .  I believe that a Clinton presidency will achieve for
the country the essential combination of economic growth,
good jobs, and long-term fiscal strength.  I believe Clinton
has an excellent economic plan and will provide the long-
term deficit reduction that will be necessary to return
America to a sound footing."




--
                           
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 "The oak sleeps in the acorn, the gaint sequoia sleeps in it`s tiny seed,
  the bird waits in the egg and God waits for his unfolding in man."
       Funkadelic                       bing@concert.net