Much of the credit for that must go to businessmen and women like those of you here tonight. But government has the responsibility for creating the economic environment for your success. And right from the start, President Clinton launched a special effort in California. That strategy is working. Construction is up.
Bank lending is up.
New business formations are up. The business failure rate. This is a great achievement for all Americans. But I don t have to remind this audience that a strong and growing economy is even more vital for African-Americans. When President Clinton took office, the African-American unemployment rate was 12.5 percent.