From Mail-Server@lex-luthor.ai.mit.edu  Fri Aug  6 06:09:36 1993
To: Clinton-Speeches-Distribution@campaign92.org,
Date: Thu, 5 Aug 1993 23:45-0400
From: The White House <75300.3115@compuserve.com>
Subject: President's Remarks in the Rose Garden  8/5/93

	     

                           THE WHITE HOUSE

                    Office of the Press Secretary
______________________________________________________________
For Immediate Release                             August 5, 1993     

	     
                       REMARKS BY THE PRESIDENT
               ON THE HOUSE VOTE ON THE BUDGET PACKAGE
	     
                           The Rose Garden  

10:55 P.M. EDT
	     
	     THE PRESIDENT:  I want to congratulate the members of 
the House and their leaders for breaking gridlock tonight and 
entering a new era of growth and control over our destiny.  
	     
	     In the future, the American people will thank them for 
their commitment to moving away from the horrendous legacy of debt, 
underinvestment and slow growth of the 1980s, and putting the 
national interest ahead of the narrow interest; putting tomorrow 
ahead of today's pressure.
	     
	     The margin was close, but the mandate was clear.  I will 
continue to fight for this economic package with everything I have.  
And I urge the members of the Senate to act on it in a positive way 
tomorrow.  The fight is still on and we have just begun to fight.
	     
	     This economic plan represents an important first step in 
changing America.  For the first time in a very long time we are 
making a meaningful down payment on the federal deficit, with deep 
spending cuts locked away in a trust fund that cannot be spent for 
anything else.  For the first time in a dozen years the tax burden 
that is a part of the deficit reduction trust fund will be borne 
largely by those best able to bear it, with 80 percent of the new 
revenues coming from those with incomes above $200,000.
	     
	     And still, there will be shared contributions.  The 
middle class is asked to make a modest contribution to paying down 
the deficit and growing the economy.  For the first time in a decade 
we are making a serious effort to invest in our children, reward work 
over welfare, strengthen our families, and give genuine incentives to 
business to grow new jobs.
	     
	     These incentives are very, very important because the 
purpose of bringing the deficit down is to keep interest rates down, 
be able to control our financial destiny, and permit people with the 
right incentives to put the American people back to work.
	     
	     Finally, as I said, this is just a first step to putting 
our financial house and our economic house in order.  This program is 
shared sacrifice for shared benefit.  We're all in this together, but 
we have just begun.
	     
	     If the Senate acts favorably tomorrow, and as soon as 
the August recess is over, I am committed to further steps for 
discipline in the federal budget, in getting rid of unnecessary 
spending and waste, including reenacting the controls that the House 
originally passed and that I embodied in my executive orders of 
yesterday.
	     
	     After that, we will move on to the Vice President's 
report on reinventing government, which will contain a myriad of 
exciting possibilities for making the government more efficient and 
reducing unnecessary and inefficient spending.  
	     
	     Then we will move on to deal with the health care issue, 
to provide the security of affordable health care to all families and 
to lower the growth in health care costs over the long run, without 
which we will never bring this budget into balance or restore real 
financial health to the private sector.
	     
	     Then there is the process of ending welfare as we know 
it, making our streets safer, and most important of all, putting all 
this together in a program to restore jobs and growth for the 
American people.
	     
	     We have set our sights high, but for 20 years our people 
have struggled harder on stagnant wages with too little investment 
and too few new jobs and exploding debt.  For 12 years we have tried 
trickle-down economics while the debt went up and investment went 
down.  Now we want a new direction to invest and grow this economy.
	     
	     We began by seizing control of our destiny on a daily 
basis with this heroic vote today by the House of Representatives.  I 
congratulate those who voted.  I urge the Senate to follow their 
lead.  And I look forward to continuing the battle tomorrow.
	     
	     Good evening.  (Applause.)

                                 END10:59 P.M. EDT

