    [Public Papers of the Presidents of the United States: William J. Clinton (1997, Book II)]
    [November 8, 1997]
    [Pages 1513-1515]
    [From the U.S. Government Publishing Office www.gpo.gov]

    The President's Radio Address
    November 8, 1997

        Good morning. This weekend the United States House of
    Representatives will decide whether America will continue to move
    forward with confidence on the road to continued prosperity or give in
    to fear and fail to seize all

    [[Page 1514]]

    the opportunities of the 21st century. There's a lot at stake.
        Over the past 5 years, our economic strategy has worked to make the
    new economy work for all Americans. We're balancing the budget,
    investing in our people through education and health care, and expanding
    exports through tough trade deals.
        Yesterday, we learned again that this strategy is succeeding:
    Unemployment is at 4.7 percent--that's the lowest in 24 years--a quarter
    million new jobs in October alone, and 13\1/2\ million since I took
    office; inflation in check; exports booming. And after dragging for
    decades, incomes for American workers are rising strongly, up $2,200
    after inflation since 1993.
        Now, wages are rising in part because more American jobs are high-
    paying, export-related jobs. And if exports keep expanding, that will
    help to keep wages rising. We must press forward with this economic
    strategy. That's why I'm asking Congress to renew the so-called fast-
    track authority that enables America to negotiate new trade agreements.
    A strong bipartisan majority in the Senate backs this bill, which simply
    gives me the same authority to lower barriers to American products that
    Presidents of both parties have had for more than 20 years. That's why
    Presidents Bush, Carter, and Ford support this measure. Now it's up to
    the Members of the House of Representatives to decide.
        A yes vote means America stays in the lead in fighting for new
    markets. That's now at risk. Just this week, Canada gained an advantage
    on us by signing a comprehensive agreement with Argentina, Brazil, and
    others. That means their products will sell in those countries at lower
    prices than ours because we'll still have to pay tariffs they don't.
    Now, that's a strategy of America last, not America first.
        A yes vote means that America helps to write the rules for the new
    global economy. That's the only way to make sure that it works for the
    American people. We already have lower barriers in our country on
    foreign products than most countries. Other countries have higher
    barriers on the sale of our products and services.
        A yes vote means that we can also address labor protections and
    environmental concerns around the world as part of our trade
    negotiations. This is the very first time this has been a part of the
    President's negotiating authority. Walking away from this will not
    create a single job or clean up a single toxic waste site, here or in
    any other country around the world.
        Finally, and perhaps most important, a yes vote means that American
    leadership in this hemisphere and elsewhere, not only on trade but in
    fighting drugs and terrorism and dealing with our other security
    problems, will be strengthened.
        In the post-cold-war world, national security requires economic
    strength and economic leadership. If America, with the world's strongest
    economy, withdraws from nations who want to be our economic partners,
    they're much less likely to be our partners in fighting crime and drugs
    and terrorism and the proliferation of dangerous weapons.
        A yes vote is a vote for confidence in the world's strongest
    economy. But a no vote says, ``We don't want our country to negotiate
    lower trade barriers. We're pulling back. We're afraid we can't compete,
    and we're willing to walk away from our unique world leadership at this
    moment.''
        Other countries look at us and ask, ``With 4.7 percent unemployment
    and 13\1/2\ million new jobs, what could America be afraid of?'' No
    other country has an economy so strong with so much promise.
        Now, will some people be hurt if we lower our already low trade
    barriers more? Yes. Though most of our job losses have come because of
    technological changes and changes in consumer buying habits, trade does
    cause some. But overall, we're way ahead in the last 5 years.
        The answer is to help the people who lose their jobs, for whatever
    reason, get good new ones and to do it more quickly. We've got a plan to
    do that. And we're already spending more than twice as much as we were
    when I took office helping dislocated workers.
        By expanding trade, we expand opportunity for working families and
    give more and more of them a shot at the American dream. It's working.
    Why in the world would we turn back now?
        I ask every Member of Congress, Republican and Democrat alike, to
    look to the future. Cast the vote you know is right. If we move to seize
    the opportunities of this new time and to help the people in the
    communities who need an extra push to get ahead, then our country will
    enter the 21st century stronger than ever before.
        Thanks for listening.

    [[Page 1515]]

    Note: The address was recorded at 6:48 p.m. on November 7 in the
    Roosevelt Room at the White House for broadcast at 10:06 a.m. on
    November 8.