From: clarinews@clarinet.com (HAROLD H. MARTIN)
Newsgroups: clari.news.politics,clari.news.economy,clari.biz.economy,biz.clarinet.sample
Subject: Clinton outlines economy vision
Keywords: politics, domestic economy, economy, broadcast
Date: 16 Apr 92 19:35:28 GMT
Followup-To: biz.clarinet.sample
ACategory: usa
Slugword: clinton
Priority: regular
Format: regular
ANPA: Wc: 733; Id: z5390; Sel: xxnp.; Adate: 4-16-335ped
Codes: ynp.rxx., ynedrxx., bfedrxx.


	PHILADELPHIA (UPI) -- Arkansas Gov. Bill Clinton, in what was billed
as his first major economic statement, jumped on President Bush for a
lack of economic strategy Thursday and called for converting defense
spending to domestic growth and for universal, continuing education.
	Clinton, his voice still hoarse from a bout of laryngitis, said with
all the changes in the world, America had to change. It had to develop
an economic strategy, he said, to match Japan and Germany and other
countries which have had such strategies for years.
	``In the new American economy, everyone will have to change, and
everyone will get something in return,'' Clinton said.
	``Workers will gain new prosperity and independence, including health
care and training, but unions will have to give up non-productive work
rules and rigid job classification and be open to change. Managers will
reap more profits but will have to manage for the long run, and not
treat themselves better than their workers are treated.''
	Clinton spoke at the Wharton School of the University of
Pennsylvania, which has graduated many of the nation's economic leaders.
	As he launched an attack into Bush, Clinton also took a slap at his
hosts, noting Wharton, while home to ``much of America's economic
potential .. is also a powerful symbol of where our country went wrong
in the 1980s.''
	The school, he noted, had Michael Milken and Donald Trump on its 
``Wall of Fame'' until Milken went to jail for his junk bond dealings
and Trump went bankrupt.
	Clinton said Bush, who was speaking about the same time at a high
school 50 miles north of Philadelphia, ``looks at America as it is today
-- at the decline of the middle class and the explosion of poverty -- and
he says 'do nothing.'''
	``For 11 years, we've had no economic vision, no economic leadership,
no national economic stategy,'' Clinton said. ``The single driving idea
behind economic policy in the '80s has been to keep taxes low on
corporations and upper income individuals and keep government out of our
way.''
	But he said the solution was neither Republican supply side economics
or ``the old Democratic theory that says we can just tax and spend our
way out of any problem we face.''
	Clinton backed universal education, starting with preschool and
continuing either through college, or through apprenticeships. College
costs could be paid for with a national fund that was repaid by several
years of national service, or a tax surcharge.
	After formal education he said he would require firms to invest 1 to
1.5 percent of their payroll on training for everyone, not just
executives, or to pay into a training fund.
	Instead of a capital gains tax cut, he proposed, in addition to tax
credits for investment, a new enterprise tax cut for those who invest in
new, job-creating businesses, and for a permanent research and
development tax credit. 
	He proposed accelerating the renovation of highways, bridges, water
and sewage systems funded through a gas tax, by contracting out all the
funds over two, instead of six years.
	Some transportation funds, supplemented by funds from defense
budgets, could be used to create a high speed rail lines on five
corridors between major cities, he said.
	Since the economy relys more than ever on information, he proposed a
door-to-door fiber optics system linking every home, classroom and
business by the year 2015.
	Every dollar taken from, military research and development in the
post-Cold War era, he said, should go to civilian research and
development and he proposed a civilian research and development agency
to invest in strategic technologies identified as the basis for new
growth industries.
	Clinton also said he would cut government bureacracy by 3 percent,
and said he supported a line item veto.
	Gerard Adams, Wharton professor of economics and finance, said
Clinton's proposals were ``clearly focused on the long run question of
U.S. growth policy.''
	``I think you've got to do a lot more thinking,'' he said. ``The
programs are very general. A very critical thing which he did not talk
about at all is how do you finance these programs.''
	Adams, a registered Democrat who said he didn't like any of the
candidates so far, said no candidate had addressed the issue of raising
taxes which he believed would be necessary.
Xref: sparky clari.news.gov.usa:220 clari.news.politics:597 biz.clarinet.sample:1253 clari.news.top:211