[Weekly Compilation of Presidential Documents Volume 34, Number 32 (Monday, August 10, 1998)]
[Pages 1567-1569]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Remarks at a Democratic Congressional Campaign Committee Dinner

August 4, 1998

    Thank you very much. Maxine, you have neither been a fair-weather 
nor a faint-hearted friend. [Laughter] And you have always let me know 
exactly what you think, whether I wanted to hear it or not--[laughter]--
in good times and bad. And I thank you.
    I thank all of you for coming. Sidney, thank you for being here and 
for the service you've rendered our country as an Ambassador. I thank 
the Members of the Democratic congressional caucus who are here: 
Congressman Ford; Congressman Frost, the head of the DCCC; Congressman 
Hoyer; Congresswoman Lee; Congressman Rush; and Congressman Lewis, who, 
like Maxine, started out with me in 1991. And Congressman Stokes, we're 
going to miss you, and we thank you for your service.
    I would like to thank two former members of your group who are here, 
also my longtime friends, Harold Ford, Sr., and Andrew Young. Thank you 
both for being here tonight. I also note your high degree of judgment 
about how the Federal Government works in bringing Secretary Slater. You 
probably know he got the first budget out this year. He has all the 
money. [Laughter] He may have the only money in the Federal Government. 
He's doing a wonderful job, and I thank you for bringing him tonight.
    Let me say very briefly, we've already had a chance to visit 
individually and in groups. More than anything else I would like to 
thank you. I'd like to thank you for supporting our congressional 
candidates and the genuine prospect we have to reverse 150-plus years of 
history in making historic gains in this election. And I would like to 
thank you for the example you have set for Americans--for all 
Americans--the work you have done, the barriers you have broken, the 
hurdles you have overcome, the Americans you have helped, and the 
reaffirmation you give in your daily lives that the American dream can 
be made real in the lives of all kinds of people.
    I also thank you for the specific ideas you gave me tonight to move 
forward. I would just like to make a couple of observations. I'm very 
grateful to have had the chance to serve as President at a time of 
remarkable change and to try to make sure that this period of change 
works for all Americans and that, when we get to the 21st century, the 
American dream is alive and well for everybody who is responsible enough 
to work for it, that our country is strong and visionary enough to 
continue to lead the world toward prosperity and peace and freedom, and 
that we can do that because we have enough sense to come together, 
across all the lines that divide us, into one America. That is what I 
have worked for.
    Now, we all know that we are facing a new time of economic challenge 
because of the difficulties in Asia, which I have spent an enormous 
amount of time on, as you might imagine--actually since last November. 
For quite a long while now, we've been working on that, and every day we 
work on it, because Asia is a big part of our economic growth. Thirty 
percent of our growth in the last 6 years has come from exports and 
expanding our position in foreign countries.
    But I want to ask you to think about where we go now. The temptation 
for a great, free country when you have the lowest unemployment rate in 
28 years and the lowest crime rate in 25 years and the lowest percentage 
of people on welfare in 29 years and the first balanced budget and 
surplus in 29 years and the highest homeownership in history, is to say 
that's pretty good; let's take a break; I've been working myself to 
death; let's just take a break. [Laughter]
    But the truth is, as all of you who deal in international economics 
know especially, that things are changing so fast, we can't afford to 
take a break, number one; and number two, we now have the confidence and 
the resources to deal with the long-term challenges of the country. And 
I would like to just offer a couple of observations.
    We are working with our friends in Asia to try to restore economic 
growth, and we will do everything we can to help those who are prepared 
to take the necessary steps to help themselves. But we have to look also 
at what other opportunities are there to continue to grow the American 
economy. And

[[Page 1568]]

I would just like to offer a couple of observations.
    Number one, there are still places in this country that have not 
fully absorbed this economic recovery. The unemployment rate in New York 
City is 9 percent; the unemployment rate in many neighborhoods is 
considerably higher. And yet in all those neighborhoods, over 80 percent 
of the people are working. There's opportunity for investment that will 
create jobs for the others and bring a very high rate of return, with no 
risk of inflation to the aggregate economy because those are 
underutilized human resources. And it's true in every city in this 
country; it's true in a lot of smaller towns; it's true in a lot of 
Native American communities. We're going to have a Native American 
economic conference in the next few days, first one ever held. And I 
think it is very important that we focus on the fact that people who are 
out of work, or communities where the unemployment rate is too high and 
the investment rate is too low, are enormous opportunities for us at a 
time when there is some turmoil around the world.
    The second thing I'd like to do is make a plug again for Africa. We 
have an Africa trade bill before the Congress. I took a great trip to 
Africa; a number of you went on it. American investors earned a 30 
percent return on their investment in Africa last year--30 percent. Now, 
you may say, ``Well, yes, Mr. President, but those were the easiest 
investments, and they picked the low-hanging fruit.'' But you could go a 
ways down from 30 percent and still make pretty good money.
    And so I say again, I think that is an important thing. Tomorrow 
Deputy President Mbeki of South Africa is coming back to the United 
States for another one of his meetings with the Vice President and the 
Gore-Mbeki Commission, and I intend to see him. Secretary Daley is going 
to Africa in September. Secretary Slater and Secretary Rubin were there 
last month. So we have followed up on the trip that Hillary and I took 
to Africa with, as I said, a number of you in this room, and we want to 
continue to work on that. It is of enormous importance.
    I would also note that Latin America is doing very well. Our 
neighbors in Latin America and in the Caribbean are doing relatively 
well and continuing to prosper in this difficult time. And there are 
opportunities in the Caribbean where there was a relative disinvestment 
for several years that I think need to be looked at by Americans. And we 
have a lot of cultural ties to a lot of the island nations of the 
Caribbean as well as to Latin America that I think would bear fruit.
    And so I think it very important that in America, while we do 
everything we can to focus on the Asian financial challenges, that we 
also know that there are opportunities here at home and opportunities in 
Africa and opportunities in Latin America and elsewhere to continue to 
grow the American economy.
    Now, in connection with the issues here at home, the thing that I 
think is important to remember in this election is that in order for the 
Democrats to buck the tide of a century and a half of history, we have 
to continue to do what we've been doing for the last 8 months. We have 
to continue to press our agenda and to be for something that will excite 
America and bring hope.
    We have before the Congress now an opportunity agenda that would 
help a lot of you to make more investments in America's communities: a 
second round of empowerment zones, another round of community 
development financial institutions. One of you told me today you're 
involved with a community development bank in Los Angeles that this 
administration helped to set up. These things are going to make a huge 
difference around the country if we can reach a critical mass of capital 
in enough communities.
    Secretary Cuomo at HUD has a number of initiatives that are part of 
this that will actually create significant numbers of jobs with 
investment--private sector jobs in communities where they're needed.
    So I ask for your support in publicizing of the community 
empowerment agenda that we have been pushing now ever since my State of 
the Union Address in Congress, and that the Democratic caucus, as far as 
I know, unanimously supports.
    We need to stand up for the educational empowerment zones that we 
have been pushing. In Chicago now, the summer school in Chicago, since 
it's summer, I can say is the sixth largest school district in America.

[[Page 1569]]

That's how many children are in summer school. Guess what? The juvenile 
crime rate is way down in Chicago, and the learning is way up.
    Over 40,000 children during a regular school year now get 3 square 
meals a day at their school in that city. We have an educational 
community empowerment initiative before the Congress that would enable 
us to support other communities in doing that, giving children a chance 
to stay out of trouble and in school, after school, giving children a 
chance to go to summer programs like this, giving us a chance to give 
educational opportunities to all different kinds of people. And I ask 
for your support for that, but I ask you to talk to your friends and 
neighbors about it. There are big issues in this election season that 
deserve to be debated.
    What we really need to do is to make sure that every child of 
whatever race and of whatever station, in whatever neighborhood they're 
born in, has the chance to live the success stories that you have lived. 
What we really need to do is to make sure that we are still working hard 
to create one America. What we really need to do is to make sure that 
we're not sitting on our laurels and being distracted but instead 
bearing down and looking forward and lifting up and pulling together 
this country.
    All over the world people still look to the United States for 
leadership, for peace, for freedom, for security. But in order for us to 
do good in the 21st century around the world, we first must be good here 
at home on those things that we know matter most.
    You've helped us a lot, and I can tell you that Maxine is grateful; 
I am grateful. You're going to make Congressman Frost look better 
tomorrow with what he's done for the Democratic Congressional Campaign 
Committee. But the most important thing is, by being here tonight, you 
have helped us to work with your constituents to make 21st century 
America the greatest period in our Nation's history, and I thank you for 
it.
    Thank you, and God bless you.

Note: The President spoke at 8:24 p.m., in Ballroom Two at the 
Washington Court Hotel. In his remarks, he referred to Representative 
Maxine Waters; Sidney Williams, former Ambassador to the Bahamas; and 
Deputy President Thabo Mbeki of South Africa.