    [Public Papers of the Presidents of the United States: William J. Clinton (1993, Book I)]
    [June 16, 1993]
    [Pages 863-864]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Remarks and an Exchange With Reporters During a Luncheon With Business
    Leaders
    June 16, 1993

    Economic Program

        The President. I'd just like to make one comment to reinforce the
    importance of passing this economic plan. We've got interest rates now
    down to a 20-year low and home mortgage rates. And this new headline,
    ``Inflation Slows, Rates Holding,'' that's the direction we want. We
    want a steady recovery. And we have got to pass this economic plan and
    do it in the near future to ensure that that goes on.
        Let me just mention one statistic. In the first 4 months of this
    administration, we had 130,000 new construction jobs in this country
    because of low interest rates. That is the largest increase in 9 years
    in a 4-month period. We can bring this economy back if we pass the plan,
    get the deficit down, keep the interest rates down, and keep the
    investment flowing to create jobs in the country. And I think it is
    terribly important. And I just wanted to emphasize that, to impress upon
    the country the importance of what the United States Senate is grappling
    with now.

    [[Page 864]]

    They simply have to pass this plan and go forward.
        Q. Do you think that there will be a deal? And will it have a
    significant enough----
        The President.  I'm encouraged.
        Q. ----energy tax to make it worthwhile?
        The President. Well, it depends on what the--let's look at the final
    plan. You know, the Senate is going to change the energy tax, but if
    they have enough deficit reduction and they go to the conference
    committee, I think that they will come out ultimately with a bill that
    I'll feel good about.

    Supreme Court Nominee

        Q. Mr. President, on another subject, were you influenced by the
    letter writing campaign on behalf of Judge Ginsburg? Did that help
    persuade you to take another look at her?
        The President.  No.
        Q. Did you read any of the letters?
        The President. I read some of the letters that came in on behalf of
    many candidates. But I was unaware of any big letter writing campaign. I
    saw seven or eight letters for her.
        Q. [Inaudible]--influence your decision at all?
        The President. No, only that a lot of people thought a lot of her.
    There were also good letters for, I would say, 10 candidates that I
    read. I read a lot of letters that came in----
        Q. The Marines that are now heading----

    Campaign Finance Reform

        Q. [Inaudible]--campaign financing--the vote on the Hill?
        The President. Excuse me?
        Q. On the campaign financing, have you heard any more about a
    possible compromise?
        The President. Just what you have, that they're working on it and
    that they may adopt one which we would find acceptable. But I want to
    see what they do----
        Q. [Inaudible]--been in communication with----
        The President. A little bit. We know they're trying to work it out.
    And I'm encouraged. What I said in response, I think, to Andrea's
    [Andrea Mitchell, NBC News] question this morning, is that I think those
    five Republican Senators who voted for campaign finance reform last year
    must surely want to do it again. They know that special interests,
    financing, and excessive spending have really undermined the public's
    faith in the political process. So I think we've got a chance to get
    one.
        Q. Mr. President, 2,200 Marines en route to the Somali coast. Can
    you shed any light on that?
        Q. Thank you.
        Q. Enjoy your lunch.
        The President. Lunchtime.
        Q. We don't get any.
        The President. You know, I don't believe that. [Laughter]

    Note: The President spoke at 12:40 p.m. in the Old Family Dining Room at
    the White House. A tape was not available for verification of the
    content of these remarks.