    [Weekly Compilation of Presidential Documents Volume 30, Number 25 (Monday, June 27, 1994)]
    [Pages 1324-1325]
    [Online from the Government Publishing Office, www.gpo.gov]

    <R04>
    Remarks and an Exchange With Reporters Prior to Discussions With King
    Hussein of Jordan

    June 22, 1994

    Middle East Peace Process

        The President. First, I would like to welcome King Hussein back to
    the White House and to say how very much I support his courage and
    vision in renewing his efforts to make peace with Israel. I want to
    reaffirm the support of the United States for a comprehensive settlement
    in the Middle East, including the Syrian track, and we will do whatever
    we can to keep those things going.
        This remains a very important priority for me and for our
    administration. And I am very encouraged by where we are now in the
    whole process and especially by the efforts that King Hussein has made.
    And I'm looking forward to having the chance to discuss that with him.
        So, sir.
        Q. What are the chances, Mr. President and King Hussein, of a
    trilateral settlement between you two and Prime Minister Rabin? Your
    Majesty.
        King Hussein. I don't think it is something that has been discussed
    as yet, but in the future, I suppose anything and everything is
    possible.

    Decline of the Dollar

        Q. Mr. President, are you at all concerned with the dollar's fall?
    Your administration is not intervening as it has in the past.
        The President. Well, I talked to--I spent some time yesterday on it.
    I talked to Secretary Bentsen again today about it. And I think that I
    would let him speak for us today on it. We have agreed today on what he
    will say and what our course will be.
        Let me just emphasize that the dollar, as you know, is traded in big
    multinational markets with other currencies, and they go up and down.
    But the fundamental economic realities in this country are very strong.
    This is the first time in 30 years when we have had a growth in the
    economy, with no inflation, led by investment that will create jobs. The
    unemployment rate has dropped dramatically in the last year and a half;
    we've just passed in the first quarter of this year--the first quarter
    in over 15 years when there was no bank failure.
        So our fundamentals are quite good. We had a record number of new
    business incorporations, the largest number since World War II, in 1993.
    I think we just have to keep working on our fundamentals and know that,
    in the end, the markets will have to respond to the economic realities
    of the American economy.
        Q. Well, what do you think is wrong?

    Campaign Finance Reform

        Q. Mr. President, speaking about dollars, Common Cause has accused
    you and your administration of betraying your campaign commitments on
    soft money for the DNC, raising a lot more over these past 18 months
    than the Republicans did when they were in

    [[Page 1325]]

    office. How do you respond to Common Cause's accusations?
        The President. First of all, my campaign commitment is to seek
    campaign finance reform legislation which will put both parties on an
    equal footing and will give the Government of this country back more to
    ordinary Americans. I have supported that legislation strongly from the
    beginning. I still believe we're going to get a good campaign finance
    reform bill out of the committee and onto my desk in this session of
    Congress.
        In the meanwhile, as I have said all along, I don't believe in
    unilateral disarmament. And I believe, if you will look, I've had a lot
    more advertising and attacks against our administration and our policy
    than we have had the financial wherewithal to respond to.
        So, we've done our best to defend ourselves in the system that now
    exists. But I agree with Common Cause, we need a campaign finance reform
    bill. I'm going to work hard for it.

    Note: The President spoke at 10:50 a.m. in the Oval Office at the White
    House. A tape was not available for verification of the content of these
    remarks.