    [Public Papers of the Presidents of the United States: William J. Clinton (1993, Book I)]
    [March 6, 1993]
    [Pages 247-248]
    [From the U.S. Government Publishing Office www.gpo.gov]

    The President's Radio Address
    March 6, 1993

        Good morning. We've come a long way together in the last few weeks.
    You've had the opportunity to look over my plan to give America a new
    direction. And from what I've heard all across the country, you like
    what you see, not because you agree with all of the details but because
    you know that this program is a fundamental departure from business as
    usual in Washington. It makes dramatic reductions in deficit spending,
    over 150 specific cuts in domestic programs, and asks a contribution
    from every American based on his or her ability to pay, all to get the
    deficit down.
        I've challenged the critics of our plan to help me find more
    spending cuts that reduce the deficit for real, not the kind of gimmicks
    and not the delays of tough choices we've seen in the past. Previously,
    when Washington has talked about cutting the deficit tomorrow, it was a
    tomorrow that never comes. We're going to change that. But perhaps the
    biggest change we're offering is a national investment strategy to
    create jobs and grow our economy. Every investment we make is paid for,
    dollar for dollar, by spending cuts in existing programs. Every
    investment is designed to make us smarter, safer, and more secure, now
    and in the long term. These investments embraced old-fashioned ideas
    like education and work and self-reliance, but they meet the challenges
    of the new economy with an arsenal of new ideas.
        But we begin by making an ironclad commitment to the safety and
    well-being of our families: First, to immunize every American against

    [[Page 248]]

    avoidable, preventable childhood diseases. For every $1 we spend today,
    we'll save $10 in the future. Then, to fully fund the Head Start program
    to give all of our children a chance to start school ready to learn.
    That will save $3 for every $1 we invest. And then, to open the doors to
    college education to tens of thousands of promising young students in
    exchange for their work in a program of national service. In every case,
    they are investments that will pay dividends and strengthen our economy
    for years to come. We can't afford to do less.
        At a time of immense global change, the price of doing nothing is
    persistent unemployment, shrinking wages, and workers unable to fulfill
    their potential. But with the advantages of intelligent investment, our
    workers can compete and win in this global economy. For example, changes
    are coming for communities and companies which defended America during
    the cold war. As the defense industry shrinks and adjusts to the new
    world, we must make offsetting investments in civilian research. And if
    your job has been threatened by the end of the cold war or by changes in
    world trade or by changes in the way we build products or provide
    services here in America, the United States shouldn't let you down.
        This investment program includes a bold new initiative to ensure
    that every worker has the training to get a good job in the new economy.
    And the plan contains the boldest national apprenticeship program our
    country has ever had, so that all high school graduates who don't go to
    college can receive the skills and the encouragement they need to find
    good jobs.
        For all these workers and students, their lives and livelihoods
    depend upon the power of investment. Overall, this plan will create more
    than 8 million public and private sector jobs over the next 4 years.
    It'll put people back to work in building roads and bridges and creating
    the new technologies that will employ our people and bolster our profits
    well into the 21st century.
        We also propose the boldest package of incentives targeted to small
    business: a $3 billion-per-year permanent investment tax credit,
    targeted to the small businesses that promote job growth in this
    country, and tax initiatives for small companies who will start new
    enterprises so that we can reward entrepreneurs who take risks to build
    new businesses. And next week we'll go further by announcing regulatory
    changes to expand the availability of credit for small- and medium-sized
    businesses seeking loans, without sacrificing our abiding commitment to
    the safety and security of our financial system.
        By making more capital available to the private sector and by
    lowering its costs, business will be able to expand, grow, and create
    jobs again. All of these investments, the new policies, and the new
    ideas reflect my belief, and I think yours, that the status quo isn't
    good enough and that we can do better.
        Yesterday we saw figures showing a slight improvement in the
    Nation's jobless rate. We're happy whenever fewer Americans are out of
    work. But we certainly can't declare victory now. For while employment
    is edging up, unemployment is still higher than it was at the depths of
    this recession. And most of the new jobs being created pay part-time
    wages and rarely provide workers with the health care coverage families
    need. If this anemic recovery is the best we can do, it's further proof
    that real changes are needed to produce a better economy and a better
    life for our people.
        There are those who actually lack the vision to support these
    investments because they say that we shouldn't spend any new money
    trying to grow this economy. It's not that they have a plan to make the
    economy grow, but they just dismiss the investment portion of our
    program by calling it more Government spending.
        There is a profound difference between spending and investment. It's
    the difference between the status quo and change. And clearly, we have
    to change. We have to have the courage to cut spending and the wisdom to
    invest our new resources wisely. We can't do nothing, but we shouldn't
    do one without the other. The program I've offered to Congress is the
    only one which will offer a balanced approach to turn the economy
    around, and we have to do it now.
        I hope you'll join me in this call for a new direction. I hope
    you'll enlist your Representatives and Senators in the critical cause of
    change. This is the American way, taking charge of our destiny, working
    hard, and investing today so that we might build a better tomorrow.
        Thanks for listening.

    Note: The President spoke at 10:06 a.m. from the Oval Office at the
    White House.