    [Public Papers of the Presidents of the United States: William J. Clinton (1993, Book I)]
    [July 3, 1993]
    [Pages 995-996]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on Signing the Supplemental Appropriations Act of 1993
    July 3, 1993

        On February 17, I unveiled my national economic strategy to increase
    growth and job creation, to reduce the deficit and lower interest rates.
    The plan reflects my belief that the United States had to address long-
    standing economic problems so we could expand growth and opportunity for
    all Americans.
        The long-term portion of the plan is nearing completion by the
    Congress. The House and Senate have adopted versions of the plan that
    reduce the deficit by $500 billion while providing needed investments in
    our country's future strength and job creating ability. However, the
    short-term component, a jobs bill designed to keep the recovery on
    track, was not adopted by the Congress.
        While there are some optimistic signs--lower long-term interest
    rates, the lowest mortgage rates in twenty years, and the creation of
    nearly one million jobs since January--I am not satisfied with the
    performance of the economy, many Americans are still hurting, and others
    are uncertain about the future.
        Because too many Americans are still without meaningful work, I was
    pleased to sign into law last night a modest job creating bill, H.R.
    2118, the Supplemental Appropriations Act of 1993. This Act funds a
    variety of critical programs, including key targeted investments that I
    requested in February. Adoption of this law means

    [[Page 996]]

    that summer jobs will be created, local law enforcement will be able to
    hire back police laid off during the last recession, and small
    businesses will be able to expand their payrolls, products, and profits.
    It also provides funding that will benefit farmers adversely affected by
    weather conditions in the Midwest.
        This bill does not nearly provide what I believe is necessary to
    help our economy. But every job it creates, every policeman or
    policewoman it rehires, every farm devastated by weather it assists, and
    every small business it enables to grow will make a difference to the
    people and communities served by this legislation.
        These are among the provisions of the Supplemental Appropriations
    Act of 1993:
        The Act provides $220 million for summer jobs for youth, including
    $50 million for the Youth Fair Chance Program. This new program will
    provide a comprehensive range of services to low-income youth in
    communities with high concentrations of poverty.
        The Act provides $150 million for grants to State and local
    government to enhance public safety by hiring additional law enforcement
    personnel. These funds will help fight crime and offset layoffs
    resulting from fiscal restraints on local governments.
        The Act provides $341 million to the Pell Student financial
    assistance program to help address a shortage of funding from previous
    years.
        H.R. 2118 provides $175 million to support nearly $3.2 billion in
    SBA loan guarantees. Regular appropriations for SBA's primary lending
    programs were exhausted in late April, and the program has been shut
    down since then. The supplemental funds provided for SBA will allow
    thousands of businesses to receive loans for start-up, expansion, and
    working capital.
        The Act provides $475 million for veterans compensation and
    pensions, and is necessary to ensure that payments continue to be made
    to veterans through the end of the fiscal year.
        Honoring my commitment to provide additional assistance to victims
    of Hurricane Andrew, the bill makes available $271 million for disaster
    assistance through the Departments of Agriculture and Housing and Urban
    Development.
        These funds are to be used to address the destruction caused by
    Hurricane Andrew, Hurricane Iniki, and Typhoon Omar and, in some cases,
    other Presidentially declared disasters as well. These funds are
    necessary to promote rebuilding and to respond effectively to the
    continuing need for disaster relief. In accordance with the applicable
    provisions of the Balanced Budget and Emergency Deficit Control Act of
    1985, as amended, I join the Congress in designating the $63 million
    provided by the Act for agriculture disaster assistance as an emergency
    requirement.
        The Act extends Federal crop disaster relief to farmers with
    disaster-related losses occurring prior to August 1, 1993, without
    appropriating additional disaster funds. Existing emergency funds are
    sufficient to pay roughly 15 cents for every dollar claimed. This
    provision will permit some assistance to farmers impacted by the recent
    floods in the Midwest. I have directed Agriculture Secretary Espy to
    submit to me a crop disaster assistance plan to provide additional
    assistance to these farmers.
        The Act support $73 billion in loan guarantee authority to allow the
    FHA single- and multi-family mortgage insurance programs and the GNMA
    mortgage-backed securities program to continue operating through the
    rest of the year. Absent this supplemental, both programs would soon
    deplete their funding.
        Finally, the Act provides $1.3 billion for the Department of Defense
    and partially offsets the additional funding with nearly $1 billion in
    rescissions. The additional funds are for the costs of Operation Restore
    Hope, Operation Southern Watch, and other requirements.
        I commend the Congress for developing a supplemental appropriations
    bill that supports my investment program and meets urgent National
    needs.

                                                          William J. Clinton

    The White House,
    July 3, 1993.

    Note: H.R. 2118, approved July 2, was assigned Public Law No. 103-50.