Software Vault: The Gold Collection/Software Vault - The Gold Collection (American Databankers) (1993).ISO/cdr11/wh930523.zip/05-23L.TXT

Internet Message Format | 1993-06-10 | 9KB

From @lex-luthor.ai.mit.edu:[e-mail]  Fri May 21 03:20:57 1993
Date: Thu, 20 May 1993 23:14-0400
From: The White House <[e-mail]>
To: [e-mail]
Subject: Text Of President's Radio Address 5.15.93

 Text Of President's Radio Address For May 15
 To: National Desk
 Contact: White House Press Office, 202-456-2100

   WASHINGTON, May 15/U.S. Newswire/ -- Following is the text of the
President's radio address delivered to the nation today.

   The President: Good morning. As we all rejoice in this magnificent
spring and the promise of renewal that it brings, we should also feel
renewed as citizens; renewed by the progress that is being made in
Washington, progress we are making in strengthening the American
economy to help us be more competitive, to grow, to work for the
middle class again.  Gridlock is on the way out and our plan to
rebuild the economy and restore opportunity for all Americans is
moving through Congress.
   Look at the progress: Just three months ago, I submitted to
Congress a balanced economic plan that asked everyone to work
together to invest a little more in deficit reduction today, so that
we can all enjoy better jobs and higher and higher incomes tomorrow.
It says we can do what no generation has ever been called upon to do
before -- that we can reduce our deficit sharply and still increase
investment wisely in jobs and education and new technology, because
we must do both to be a competitive America, to create more jobs and
growth.
   We began by forcing real discipline on the big spenders by making
deep and enforceable cuts in the federal government in over 200
specific programs. And believe me, these cuts are real. We've taken
on spending groups and interest groups that have never been taken on.
We've made tough decisions, and now Congress is working with me to
make them stick. It wasn't easy.
   We've made major reduction in the so-called entitlement programs
like medical care, agriculture, federal retirement programs.
Virtually no area of domestic spending was left untouched. And we're
now on our way to the largest deficit reduction package in American
history. And we will not raise taxes without knowing that these
spending cuts are part of the project.
   These cuts are real and our plan is fair. The nonpartisan
Congressional Budget Office has concluded that 75 percent of all the
taxes in this plan fall on the top six percent of Americans, those
earning $100,000 a year or more. It asked those who got a tax break
in the 1980's to pay their fair share in the 1990's. These proposals
which reduce the deficit and increase tax fairness were adopted by
all the important House of Representatives committees last week.
   But I'm asking the Congress to go further. This week I proposed
that when we cut programs, we lock the savings up in a deficit
reduction trust fund so that you can trust that the money can only be
used to reduce the federal deficit. That's right. No taxes without
spending cuts and the spending cuts and the taxes put into a deficit
reduction trust fund so that the money must be used to reduce the
deficit.
   In addition to cutting the spending deficit, the other essential
goal of our plan is to create opportunity in our society where hard
work is supported and initiative is rewarded.  That's why there were
important tax incentives added to this plan. Increasing the small
business expensing provision to $25,000 a year -- a goal long sought
by the American small business community. A new venture capital gains
tax. Big investment incentives for larger corporations to invest in
new plant and equipment to create new jobs. These and other
initiatives to ease the credit crunch and to keep these interest
rates at historic lows will mean billions of dollars of new
investment into our economy in the near future.
   Our economic plan includes also a proposal to create empowerment
zones in our most depressed urban and rural communities. We offer
significant incentives to those who will go into those neighborhoods
and build a business because they will be giving people a chance who
haven't had one in a long time. There's not enough government money
in the country to rebuild our cities or our distressed rural areas,
but we can do it through free enterprise if we have enough incentive.
The government in the empowerment zones will be the best partner the
free enterprise system could have.
   This plan also deals with another important problem.  No one in
America should work hard at a full-time job with children in the home
and still live in poverty. But millions of Americans do. Because our
economy and our tax system hasn't been working, millions and millions
of responsible people are among the working poor who still live below
the poverty line. That's the wrong signal to send. That's an
incentive to get on welfare, not to get off welfare.
   Our plan includes an earned income tax credit that puts into law
this basic principle: if you work 40 hours a week and you have a
child at home, you will not be in poverty. This important proposal
also is proceeding quickly to congressional approval.  The tax code
was also changed to protect those with incomes of under $30,000 from
the impact of the proposed Btu or energy tax, and to phase that tax
in so that the average family will pay about a dollar a month next
year for people with incomes of $40,000 a year or above triggering in
at about $16 to $17 a month in 1996.
   Just days after we offered our new approach to make college loans
available to every qualified American student, regardless of income,
this plan was also approved by the House Education and Labor
Committee. This is a very important thing. It will save lots of money
to taxpayers and make college loans available at lower interest rates
and better repayment terms with mandatory repayment to all students
in the United States. This is a change that we are working on --
cutting wasteful spending, increasing taxes fairly, driving down the
deficit while increasing the investment we make through private
sector incentives and in education training and technology.
   These are the ideas which will make our economy strong and
competitive. For every new dollar of investment in America and the
American people, there are $3 in spending cuts. This is the right way
to go. All told, we've come a long, long distance in the last three
months, to restoring our economy and reaffirming the values of the
middle class and to opening up our democracy again.
   I'm especially gratified that just this week we've passed the
Motor Voter Bill which will make it easier for people to register and
vote. And I fervently hope it will bring more young people into the
democratic process. It was the young Americans all across this
country who convinced me to redouble my efforts to work hard to pass
this bill.
   The United States Senate has just passed a lobbying reform bill
which will require all of our lobbyists to register for a change and
require them to report any gifts beyond a very small amount that they
give to any member of Congress.  And I've introduced the toughest
campaign finance law ever, to lower the cost of campaigns, reduce the
influence of political action committees, and open the airwaves to
honest debate -- all paid for by lobbyists, by repealing the lobbyist
tax deduction.
   This is a bright and a hopeful day. We come together not to be
better one group or one cause, but to work together in the common
cause of a reinvigorated America. We've been able to bring deep
discipline to our budget, positive purpose to our spending, and
created the sea change. Now we've got to see through it all the way
to the end.
   The rest of the road won't be easy, just as the last three months
have not been. But we can do it and then we'll have something to
really celebrate -- when we've passed the budget, an economic plan,
and gotten this country turned around.
   Even as we celebrate these changes, let's also remember why we're
free enough to make them. May 15 is Armed Forces Day. And I would
like to conclude by honoring those who served, whose bravery and
sacrifice and devotion to country has preserved our liberties, and
made America the custodian of freedom's dream for the entire world.
   I speak for all in my administration in expressing gratitude and
profound respect for each member of our Armed Forces, for their
supportive families and for their mission. From my first months in
office, I can assure you that America has the strongest, best trained
and most faithful Armed Forces in the world. Men and women so worthy
of the great responsibilities borne by them in our nation. May God
protect them and guide the United States."
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