[Weekly Compilation of Presidential Documents Volume 33, Number 46 (Monday, November 17, 1997)]
[Pages 1756-1757]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
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 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

[[Page 1757]]

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.

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.