Bill Clinton: “Good morning. On this holiday weekend, when we count our many blessings, Americans are also busy buying gifts for the…”

“Good morning. On this holiday weekend, when we count our many blessings, Americans are also busy buying gifts for the next holidays, right around the corner. Today I'd like to speak with you about the remarkable rise of the Internet as a destination for holiday shopping and about how we can ensure that on-line commerce will live up to its enormous promise. On Thanksgiving, beyond our family's personal blessings, my family and I gave thanks for the enormous prosperity America is carrying forward into the 21st century. One of the key reasons our economy continues to thrive, with the longest peacetime expansion in history, is that we're making the most of new technologies. Especially, the Internet and other information technologies are revolutionizing our economy, powering one-third of our economic growth. As the Vice President will make clear in a report he'll soon release, few applications of information technology have more potential than electronic commerce. During the holiday season alone, on-line shopping could exceed $9 billion, doubling or even tripling the on-line totals for the same period last year. About 4 million American families will buy some of their gifts on- line for the first time this holiday season. I intend to join them, because on-line shopping has significant benefits not just for consumers and large, established retailers. On-line commerce also opens a world of opportunity for local artisans and small entrepreneurs.…”