Political Quotes

“Thank you so very much. And Dick, thank you, sir, for inviting me to this most prestigious organization. May I pay my respects to Secretary Brady who is with us, came up with us from Washington, and in my view is doing an outstanding job for our country. And I'm just delighted he's here. And I want to thank one other, Ray Price, an old friend who I understand does a lot of heavy lifting for this organization--a lot of the organization. And each one of you, all of you--and I want to thank you not for standing up to greet me, for heaven sakes, but for standing up for all those fighting against aggression tonight in the Persian Gulf, and especially all the coalition forces, but especially the fighting men and women of the United States of America. Looking around at this dais and at the audience, I wonder who's home minding the GNP. [Laughter] This is a classy, star-studded audience, and we are very pleased, again, once again, let me say, to be here. This year, as Dick said, marks a defining hour--a moment of truth-- for this generation, for this country, and I'd also add for the United Nations. We were patient and we were cautious. But when the moment of truth came, America and the world did what was moral, what was just, and what was right. We said the occupation of Kuwait would not stand. And 3 weeks ago tonight, at just about this time, we announced that the liberation of Kuwait had begun. Three weeks ago tonight, allied forces moved to end a conflict that we did not seek and that we did not begin. But ladies and gentlemen, it is one that we and our allies will finish. And I can tell you firmly that tonight we are on course and we are on schedule. Mission by mission, hour by hour, Iraq's capacity to wage war is being systematically destroyed by American and coalition forces. The road to real peace will be difficult--long and tough, I'd say. But we will prevail. And when we do, we will have before us an historic opportunity. From the confluence of the Tigris and the Euphrates, where civilization began, civilized behavior can begin anew. We can build a better world and a better new world order. Tonight the world is united by shared commitments, shared interests, shared hopes. Our efforts will determine the kind of legacy that we bequeath our children, the kind of world they will live in. And so, let us rededicate ourselves to the ideals in which our troops so resolutely believe. Because in the final analysis, America and her partners will be measured not by how we wage war but how we make peace. I said in my State of the Union Address that ``we are the nation that can shape the future.'' And shaping the future is a job that begins at home. And so I want to talk to you tonight about the economy. Long- term economic growth is central to the quality of life for America's families, quality of decency for America's communities, and to the quality of leadership America can bring in its special role as the world's leading diplomatic, cultural, and economic power. Just over 8 years ago, when we came out of a recession, the longest peacetime expansion in American history began. Working together, we created millions of new jobs, cut both interest rates and inflation in half--a triumph driven by the energies of the most dynamic and diverse economy on Earth. Against this background, the events of 1990 served to remind us that even a fundamentally healthy economy faces the risk of temporary disturbances, short-term setbacks. For example, when Iraq invaded Kuwait in August 1990, it was a shock to the world's conscience. Business and consumer confidence fell. We all remember the rise, the dramatic rise, in oil prices. Inflation worries rose, and interest rates reflected an extra risk premium. Taken together, this produced a very real blow to an economy that had already slowed down. But make no mistake: The current reces- sion does not signal any decline in the fundamental, long-term health or basic vitality of our economy. America is a can-do nation. And America is home to the largest, most productive economy on Earth. Our administration's economic policies are designed to strengthen the foundation for a solid recovery and guarantee the highest possible rate of sustained economic growth. I described the three pillars of that foundation in the State of the Union Address: encouraging economic growth, investing in the future, and giving power and opportunity to the individual. Encouraging economic growth means reducing Federal borrowing by cutting the growth of Federal spending. That's why we sent Congress a budget proposal that holds spending growth below the rate of inflation-- the lowest increase in spending in 5 years. And that's why the budget law was armed with real teeth--pay-as-you-go provisions and enforceable spending caps--aimed at cutting the growth of debt by nearly half a trillion dollars over 5 years. True, the deficit is high, unacceptably high. The S&L costs, the war, the economic decline haven't helped a bit. But thanks to the budgetary reforms that began last fall, the deficit will be virtually eliminated by 1995. To ensure economic growth, this administration will also redouble its efforts to weed out counterproductive government regulations. [Applause] I thought there might be some enthusiasm for that one because I really believe that the market must be allowed to work without unnecessary Federal intervention. We must also fuel economic growth by providing incentives to promote private savings and job-creating investment. Our budget includes tax- free family savings accounts, penalty-free IRA withdrawals for first- time home buyers, and a reduced tax for long-term capital gains. And that will help bring down the cost of capital, which will help American businesses compete at home and abroad. We must also renew our investments in America's future. And that means investing in the education and safety of our children, investing in the infrastructure of our transportation system, investing in reforms for the financial services system, investing in high technology and in space. The budget proposal that we sent up there to Capitol Hill has been well-received. I'm not saying we don't have any critics--[laughter]--but when you look back over your shoulders, I think it's fair to say this one has been well-received. It includes a record $76 billion for research and development, one of the most important investments we can make in the long-term economic and military strength of our nation. It also recognizes that government must help translate the results of basic research into the generic technologies that strengthen our industries and improve our lives. This isn't an investment in machines; it's an investment in people--in the scientists, the engineers, and the educators who will produce the advances of the 21st century. And together with the Nation's Governors, we've launched a comprehensive effort at reform and restructuring, aimed at producing an educational renaissance. We've still got a long way to go. But we won't sell our kids short. As one observer said of the troops manning Patriot missiles in the Gulf: ``In one day, they wiped out the idea that young Americans are not smart enough for the 21st century.'' Investing in the future--it also means modernizing our financial system, which is exactly what our able Secretary of the Treasury unveiled yesterday with our banking reform proposals. These reforms will continue to protect every insured depositor in America. But they will also address the reality of the modern financial marketplace by creating a U.S. financial system that protects taxpayers, serves consumers, and strengthens our economy. We don't want to be back again in a couple of years to do this all over again. That's why halfway solutions won't do. We have to do the whole job, and we have to do it now. The challenges ahead are great. But by any historical standard, the current downturn is expected to be mild and brief. And today in America, the bottom line is this: While our economy may be beset by difficulty, it should not be beset by doubt. A healthy sense of confidence is backed by the facts. Inflation has been kept under control. Interest rates are beginning to de- cline further. The trade deficit declined for the third year in a row. Inventories have been kept down, reducing the need for many production cuts to work off excess inventory. Because our major trading partners are seeing relatively strong growth and the price of U.S. exports on world markets remains low, the pace of U.S. exports will continue to set record highs. In spite of many prewar predictions that a Gulf war would send oil up to $80 a barrel--and I think we can all remember those speculative days--oil prices have fallen substantially since their peaks in October, especially since the start of Operation Desert Storm. I believe that by standing up to aggression in the Gulf we are guaranteeing the future security and the stability of that entire area, an area that is so vital to global economic prosperity. Later this month, the administration will release our National Energy Strategy. The strategy will propose Federal, State, and private sector initiatives to increase energy efficiency and conservation. It recognizes the need for creating a clean, safe environment. And it also recognizes that we must find more domestic oil and gas, and use more alternative sources of energy. Our strategy is designed to reduce our vulnerability to foreign oil supply disruptions. Now, some will argue that reducing our energy vulnerability is not enough and that we should embark upon more drastic measures designed to achieve total energy independence. That's down the road, because the reality is we are a long way from total energy independence and we must avoid unwise and extreme measures that would seriously hurt American consumers, American jobs, American industries. Yes, we've got to begin reducing our energy vulnerability now. Our new strategy will do that because it is prudent, it is balanced, and it is comprehensive. And finally, don't forget another underlying strength of our economy: the flexibility of America's free market system. To preserve this flexibility, we must keep our markets open and hold government restrictions to a minimum. This, frankly, is not easy. I will continue to oppose protectionism. I will continue to fight for a level playing field, so that international trade is free and fair. And that is what we are doing in this Uruguay round of trade negotiations--trying to lower the barrier to the free flow of goods and services around the world. And that is also what we seek in the negotiations that we will launch this year with Mexico and Canada to create a North American free trade area. And our Enterprise for the Americas Initiatives--and again I salute Secretary Brady for his key role in all of this--is intended to extend the benefits of flexibility throughout the Western Hemisphere. To build a new, peaceful world order we must secure the democratic triumphs of the past year. I'm thinking especially of the Revolution of '89. The new democracies in Central and Eastern Europe inspire us all with their commitment to free societies and free market economies. But look, they face daunting obstacles from the Communist past as well as severe new problems brought on by lost markets and brought on by higher oil prices. Our administration is committed to help, and we're committed to lead. Despite the burden we are bearing in the Gulf, I've asked Congress for $470 million in new assistance for Central and Eastern Europe--a substantial increase over last year's request. Four decades ago, the Marshall plan helped build a West European zone of prosperity and security that greatly benefited the United States. Together with our Western European partners, we can now extend this success to create a Europe whole and free--an entire continent of prosperity and stability that fulfills the vision of that Marshall Plan. With their great human potential and commitment to market economic reform, Central and Eastern European countries offer real opportunities for U.S. trade and investment. And I urge American business to seize these opportunities, as many are doing. I see Jack Welch over here. Well, G.E. weighed in with $150-million joint venture with Tungsram in Hungary. Drew Lewis, who is not here with us tonight--but his Union Pacific stepped up to the plate with an impressive effort to modernize Poland's railroads. And Bell Atlantic and U.S. West have begun a $80-million telecommunications venture in Czechoslovakia. History is moving decisively in favor of freedom, thanks in large part to American ideals and perseverance--the touchstones of the modern world which the emerging democracies are now striving for: free markets, free speech, free elections. America has lived by these tenets for over 200 years. And they've given us both our power and our purpose. And that is why America and our allies are going to prevail in the Gulf. And that is why America and our partners are going to prosper in the years to come. You see, I firmly believe that our best days are before us. And I can assure you, America, and the world that we will continue to fight for principle, we will continue to do the hard work for freedom. Thank you all very much. I'll be glad to take your questions. And may God bless the troops in the Gulf and the United States of America. Free Trade”