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Pastimes : All clowns must be destroyed, gr. links II - the crashwave -- Ignore unavailable to you. Want to Upgrade?

To: Lucretius who wrote (202)	2/14/2000 10:47:00 PM
From: yard_man	Read Replies (2) \| Respond to of 476

Clown in chief >>Mr. President, how will you advise Vice President Gore to keep this economy growing? Clinton: Well, I think he's got a pretty good idea because he's been here with us, and has been a part of the decisions that have been made in the last seven years. But if you look at where we are, the question is, we've had the longest economic expansion in history, how do we keep it going? I think we need to remember the fundamentals. We need the keep the debt being paid down because that allows people in the private sector to borrow money, not only to invest in new businesses or in their existing businesses, but also to purchase things. So the continuing of debt repayment is important. Keeping our markets open to make us competitive and keep inflation down is important. Investing in science and technology and research and in education and training. Closing the digital divide to make sure the access to the Internet is available to all Americans. Those are the kind of things that will keep this economy going. Especially, I would say, we have both a moral obligation and economic opportunity by increasing investment in the areas which have been not so helped by the economic recovery. In the Indian reservations, the inner city communities, the rural communities where there haven't been a lot of new jobs. If you get growth there, it is by definition non-inflationary because they haven't had much. So you can lower the unemployment there and you create new businesses, new employees, and new consumers at the same time. Blitzer: Mr. President, there is another e-mail question that we have. How would you respond to arguments that you personally have had very little to do with the economic boom that the country has experienced during your administration? Clinton: Well, I would respond by asking them to remember what it was like before we announced and implemented our deficit reduction plan and remember what a direct impact that had on interest rates, on investments, and on the stock market. The American people deserve the lion's share of the credit. The high-tech community, we are part of it today, they deserve a lot of the credit. High-technology companies employ only 8 percent of our people, they are responsible for 30 percent of our growth. The companies that restructured in the '80's deserve a lot of credit. Everybody who has kept our markets open guaranteeing low inflation and more competition, they deserve a lot credit. But, nonetheless, we had a completely jobless recovery, what some people called a "triple-dip economy," til we finally said we're going to do something about this deficit. And, when we did it, it was like breaking a dam and all the interest rates came down. People were able to start getting money and starting to invest it in unprecedented rate, and the stock market started its upward march. <<