Bill Clinton: “Let me first, if I might, make a comment in reference to the first thing you said about California, because we now have…”

“Let me first, if I might, make a comment in reference to the first thing you said about California, because we now have legislators from all over America there. I want to make it clear that I got hired by all the American people to revitalize the whole American economy. But we can't get there unless something is done about California. California has 12 percent of the country's population, 21 percent of the country's defense budget, took about almost 40 percent of the cuts in the last round of base closings, has taken a huge percentage of the cuts of defense cutbacks, and therefore is a net drag on the whole rest of the country when we have to pour money in for welfare, for food stamps, for unemployment, for maintenance programs, instead of having California do what it has done for much of the last 20 years, which is to lead the vibrant economic growth of America. So it is critical to all of you in the audience, whether you're from California or not, that something be done to deal with what is otherwise the world's sixth biggest economy. Now, to go back to your community development question. I'm from Arkansas; my people have an interest in this. Everybody does. Now, let me say about the community involvement issue, I believe strongly that the Federal Community Reinvestment Act should be easier to follow and more clearly enforced. There is a way that we can make it less bureaucratic and still more easily enforced. I believe that we ought to create partnerships, as you know, for community lending institutions all across America. There is clear evidence in the South Shore Bank in Chicago, in the Southern Development Bank in Arkansas, in the community initiatives in North Carolina and a lot of other places in this country, that you can make loans to poor people in distressed areas and make free enterprise work, create jobs, and move people from welfare to work. That clearly mostly is going to have to be done by people at the local level working in partnership with the bankers. Therefore, I do not see any need to preempt whatever State laws might be also adopted with regard to community investment priorities or initiatives. In terms of interstate banking, the other question you asked, that hasn't come up yet. I know of no reason that we would want to do that, and I certainly won't make any move or make any final decision on it without consulting you and the Governors and others at the State level who have an interest in this. Ms. Moore. Thank you very much. Health Care Reform Mr. Hamilton. Mr. President, our last question will be offered by Senator Don Wesely of Nebraska, who is chair of our assembly on the legislators. [Mr. Wesely asked when the President would announce his health care reform package and if it would allow States to continue experimenting with their own programs.]”