[Public Papers of the Presidents of the United States: George H. W. Bush (1992, Book I)]
[July 28, 1992]
[Pages 1196-1198]
[From the U.S. Government Publishing Office www.gpo.gov]



Remarks to Hispanic Business Leaders

July 28, 1992
    Nice to see you all. Thank you, and welcome to the Rose Garden. May 
I just say a word at the beginning of the great confidence I have in 
Secretary Barbara Franklin, our new Secretary of Commerce, and in our 
very able Ambassador, Carla Hills, who is doing a superb job hammering 
out the details, trying to achieve this NAFTA agreement; also continuing 
to work, both of them, on the need to get a worldwide agreement on 
successful conclusion to the Uruguay round of GATT. But we are very, 
very fortunate in this country to have this kind of leadership in these 
two terribly important jobs.
    May I say to Jesus Chavarria, the editor and publisher of Hispanic 
Business, thank you for your leadership in bringing together so many 
dynamic men and women from the Hispanic-owned businesses. Frankly--you 
want to hear it for him? Okay, let's do it. [Applause] Why don't you 
stand up?
    But it's a wonderful thing that you do, and I'm sure everybody here 
would agree with that. But people across the country ought to know of 
this and ought to agree because, really, you enliven this country. 
You're keeping America great, all these businesspeople here. And we 
salute you.
    We do believe in the future, and we know how to get there. 
Obviously, our future depends on freedom. Freedom works, and freedom is 
right. And as I see this free economic system working with you at the 
helms, you are the heroes of the economy because you create jobs, you 
meet a payroll. The only people with a tougher challenge might be either 
one of two people: the coach of the Angolan basketball team--
[laughter]--or maybe, really, the guy that shot the arrow to light the 
torch. You talk about courage. Brent Scowcroft said, ``I think somebody 
was up there with a cigarette lighter just in case it missed.'' 
[Laughter] But nevertheless--hey, wait a minute, we've got to be serious 
here.
    You have come to Washington at a tough time, too late for the cherry 
blossoms, just in time for the humidity. And today I'd like to add a 
little heat because I really have something that's on my mind.
    The economy is growing, albeit too slowly. Hispanic-owned businesses 
are in the vanguard of this growth, in the forefront of creating new, 
good jobs for Americans. And we need to grow faster. And we know what's 
holding us back. Let me sum it up in a simple sentence: Government is 
too big. The Government side is too big, and it spends too much. An old 
guard of tax-and-spend politicians has controlled Congress for most of 
40 years. And believe me, that is a fact. Already this year I've given 
Congress a choice between economic growth and big Government. And 
Congress sided with the big Government.
    Here's what happened. And I recite this

[[Page 1197]]

history because I think it's important you have it in mind when you go 
up to Capitol Hill. In January I proposed a commonsense, comprehensive 
plan to get this economy moving faster, right then. The plan includes 
tax incentives to encourage businesses to hire new workers and breaks 
for young families who want to buy a first home. Half a million jobs 
would have been created if the Congress had acted right away.
    That didn't happen. Instead Congress passed a package of new 
Government spending and new taxes. They knew I would have to veto that 
package. And so I did. I sent the plan back, and I'm still waiting 
almost 200 days later. This economic recovery plan is being held 
hostage, and the ransom note reads, I think we all know this, ``Wait 
until after the election.''
    We need that first-time credit. We need the investment tax 
allowance. We need to change these IRA's. We need to move on capital 
gains to create more small businesses. The party that controls Congress 
is holding jobs and free enterprise hostage. They talk about class 
warfare, about squeezing more from the rich. What they don't say is that 
more than half of those affected by the proposed hike in individual tax 
rates are family farmers, small-business men and women, people just like 
yourselves. So you are out there trying to create jobs, and you need a 
pat on the back, not $100 billion in new taxes and Federal mandates on 
your shoulders.
    I do understand that you're going up to Capitol Hill later, and I'd 
ask you to take a message up there with you: Tell the Members we need 
quicker growth now, and tell them to approve these growth initiatives 
that are still up there without delay. Tell them to release the economy 
and approve the jobs program and put America back to work right now.
    We're together today because we also share a vision for the long 
term. We want to build a solid future, a future for our country in the 
world economy. And one of the most exciting developments in our Nation's 
history is coming now to fruition. You've heard about it here this 
morning. I'm talking, obviously, about the North American free trade 
agreement. Our negotiators reported solid progress from meetings in 
Mexico last weekend. And they're going to meet again, I think, in just a 
few days. We're very close to completing an agreement. And that 
agreement will mean more jobs, more growth, more opportunity for 
American workers.
    Look at the numbers. During the recent partial opening of the 
Mexican market since 1986, U.S. exports to Mexico have almost tripled. 
They have almost tripled. More than 600,000 American workers now owe 
their jobs to trade with Mexico. We enjoy a robust trade surplus with 
Mexico, $2.1 billion last year. And it's estimated that we'll achieve a 
surplus of more than $8 billion this year. The new jobs created by trade 
with Mexico are to be found not only in the border States but all across 
the country. Our top 10 States exporting to Mexico, let me just click 
off some, include Michigan, Illinois, New York, Pennsylvania, and 
Florida. They don't exactly border the Rio Grande.
    When the trade agreement goes to Congress, not if but when, we are 
going to need the utmost help from each and every one of you. Please 
don't have any illusions that this is going to be an easy fight. The 
leadership of Hispanic business men and women was crucial, crucial in 
winning that Fast Track effort that I heard Carla discussing just before 
I came out here. This new round of the battle will make Fast Track seem 
easy by comparison; we know that. But we are ready, and we've got to be 
sure we keep--the battle itself for this must be nonpartisan or 
bipartisan or however you want to look at it. We need support from 
everybody to get this done.
    We've consulted closely with the Congress and with business leaders 
every step of the way in these negotiations. Again, I just can't tell 
you the number of hours that Carla Hills and her team has spent, 
properly so, in my view, but with the various business and labor and 
environmental interests all across our country, keeping them informed, 
getting their suggestions, bringing them along. We made commitments to 
Congress last year, and we are going to meet each and every one of them. 
And when we 
wrap up the agreement, it's going to be 
a good deal for American consumers

[[Page 1198]]

and businesses and especially for American workers.
    To me, ideas like free trade are worth fighting for because, really, 
you've got to put it in the broad context. We're fighting for our 
children's futures. I know that's not politically popular in all places. 
I know there's an awful lot of special interests that are lined up 
against a potential free trade agreement; we understand that.
    Too many of us in national politics often act like an old South 
Carolina Senator some of you may remember, Olin Johnston. He didn't like 
to cover anything controversial in these newsletters that he sent out to 
his constituents. He told his aide, ``Just put in a column about 
communism.'' The aide complied, writing a crackerjack column exposing 
the evils of communism, putting the good Senator squarely on the side of 
America. The Senator read the draft, and he said, ``Son, how many 
Communists do you think we have in South Carolina?'' The aide answered, 
``Well, I suppose maybe five or six.'' And the Senator replied, ``Well, 
just make sure they don't get this newsletter.'' [Laughter]
    Well, I guess Carla knows and Barbara knows and I know that more 
than five or six people are going to stand against free trade. But I'm 
not going to back down. You know it's right, and I know it's right. And 
just on this one, trust me to do what is right for America and to do 
what's right for the future.
    So I hope you'll agree with me. And inasmuch as NAFTA--we're talking 
about mainly Mexico today, I might peripherally say I am very proud that 
we have such a good bilateral relationship with that important republic 
to our south. It's never been better. And once again, I'd like to salute 
President Carlos Salinas, the President of Mexico, who's working very 
closely with us to bring this agreement to fulfillment.
    And one last point I want to make. There isn't any political timing 
on this. Carla explained to you the timing, the realities of the law and 
what we must comply with and how we must do it. But in spite of 
opposition, nobody is going to turn this one into a political football 
because we're going forward to do something what is right for the United 
States.
    So thank you all very much for what the Hispanic businessmen and 
businesswomen are doing to build a very solid foundation for the future. 
And on this very beautiful day, may God bless you all and the United 
States of America.
    Thank you very, very much.

                    Note: The President spoke at 9:35 a.m. in the Rose 
                        Garden at the White House.