[Weekly Compilation of Presidential Documents Volume 34, Number 30 (Monday, July 27, 1998)]
[Pages 1426-1427]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
The President's Radio Address

July 18, 1998

    Good morning. I'm speaking to you from my home State of Arkansas, a 
State that, like many across our Nation, depends heavily on agriculture. 
America's farm communities are more than a critical part of our economy. 
They are places where American values have deep roots and flourish: 
faith and family, hard work and respect for neighbors, devotion to 
community. Every American has a stake in the strength of rural America.
    With family incomes rising, the lowest unemployment in nearly 30 
years, the highest homeownership rate in history, most Americans today 
are enjoying the dividends of the strongest American economy in a 
generation. Unfortunately, life on the farm is not so easy today.
    For 5\1/2\ years, I have worked to expand opportunity for our farm 
families. We've strengthened crop insurance, provided critical disaster 
assistance to ranchers who have lost livestock, doubled our use of 
export credits from last year, improved our school lunch programs by 
buying surplus commodities, and worked to diversify the sources of 
enterprise and income in rural America.
    But with the economic crisis in Asia weakening some of our best 
customers for farm products, and with strong world crop production 
bringing prices down, and with farmers facing floods and fires and 
drought and crop disease, our farmers face a difficult and dangerous 
moment. Many farm families have been pushed off their land, and many 
more could suffer the same fate unless our Nation revives its commitment 
to helping farmers weather hard times.
    When I signed the 1996 farm bill, at a time when farm prices were 
very strong, I made clear my concern that there was not an adequate 
safety net for farmers. The bill had to be signed to avoid putting our 
farmers in an even more difficult situation under the old 1949 farm 
bill. But sooner or later, prices were bound to fall so low that we 
would need that safety net. That day has come. With prices for many farm 
products plummeting, America's farm families face a crisis, and we have 
an obligation to help.

[[Page 1427]]

    At the same time we see a very different crisis in some parts of the 
world, a crisis of hunger, where too many families face famine and 
starvation. For decades, American Presidents have addressed such crises. 
That's what I'm doing today.
    Today I am acting within my full authority as President to take 
immediate steps to help our family farmers and to reduce crop surpluses 
at home. Within days, the United States Government will begin to 
purchase more than 80 million bushels of wheat, which could lift prices 
as much as 13 cents a bushel. With this wheat, I've instructed Secretary 
of Agriculture Dan Glickman to launch a new food aid initiative to press 
the world struggle against hunger.
    Secretary Glickman, working with our Agency for International 
Development, will use the authority granted to him by Congress to 
oversee substantial donations of U.S. wheat to countries where the need 
is greatest--places such as Sudan and Indonesia. Donations will also be 
made to private humanitarian groups. All told, this is in the best 
humanitarian tradition, an action based on human need to help save lives 
as it opens new links of trade with these nations. It's good for 
American farmers, good for our economy, and it's the right thing to do.
    This effort will provide a much needed boost to U.S. wheat farmers, 
but we can and must do more. I'm pleased that this week Congress took 
prompt bipartisan action to exempt agricultural trade from U.S. 
sanctions against India and Pakistan in the wake of their nuclear test. 
But more congressional action must follow. We should expand eligibility 
for direct and guaranteed loans, extend marketing loans when crop prices 
are low or transportation problems make marketing difficult, give 
farmers more flexibility to plant other crops when their primary crops 
fail. And above all, we must keep the market for our products growing by 
paying our dues to the International Monetary Fund so that we can 
stabilize and help to reform Asian economies that are such important 
customers for America's farmers and for our other exporters who are 
responsible for 30 percent of the remarkable growth we've enjoyed since 
1993.
    In my State of the Union Address, I urged Congress to do this for 
the sake of our own economy. Six months later, the need is greater than 
ever. We must pay our dues to the International Monetary Fund so that 
our people can sell their products abroad.
    The steps I take today are in the best tradition of America. From 
our beginnings, we have recognized that the agricultural tradition 
strengthens the national community. In the depths of the Great 
Depression, President Franklin Roosevelt said, ``No cracked Earth, no 
blistering Sun, no burning wind are a permanent match for the 
indomitable American farmers who inspire us with their self-reliance, 
their tenacity, and their courage.'' Today, at a moment of broad 
prosperity for our Nation, we have an obligation to expand opportunity 
for all Americans as we move strongly into the 21st century.
    Thanks for listening.

Note: The address was recorded at 8:58 p.m. on July 17 in the Cabinet 
Room at the White House for broadcast at 10:06 a.m. on July 18. This 
transcript was made available by the Office of the Press Secretary on 
July 18 but was embargoed for release until the broadcast.