[Weekly Compilation of Presidential Documents Volume 34, Number 44 (Monday, November 2, 1998)]
[Pages 2119-2120]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
The President's Radio Address

October 24, 1998

    Good morning. Yesterday, after 9 days of difficult negotiations on 
Maryland's Eastern Shore, Israeli and Palestinian leaders signed an 
agreement that restores hope for peace in the Middle East. It 
strengthens security, increases cooperation against terrorism, and 
brings both sides closer to the day when they can live together as free 
people.
    Keeping the peace process on track will require continued courage by 
Israelis and Palestinians in the months ahead. But this agreement shows 
what is possible when the will for peace is strong. And I'm proud that, 
together, we were able to make real progress. America will continue to 
work for a just and lasting peace in this land that is holy for so many 
people throughout the world.

[[Page 2120]]

    Now I'd like to talk with you about an historic opportunity we face 
here at home. Ten days from now the American people will head to the 
polls for one of the most important elections in recent years. You will 
help select a Congress that will determine whether we seize this moment 
of prosperity to save Social Security for the 21st century.
    Earlier this month we celebrated America's first budget surplus in 
29 years. But even before the black ink was dry, some in Congress were 
determined to squander our surplus on an unwise election-year tax plan. 
But we turned back these efforts. The balanced budget I signed this week 
protects our hard-won surplus until we save Social Security first. As a 
result, the new Congress will have the best chance ever to ensure that 
the baby boomers can retire in dignity, without imposing unfair burdens 
on our children.
    As we begin the process of reform, I have proposed five core 
principles to guide our way: First, we have to reform Social Security in 
a way that strengthens and protects the system for the 21st century. We 
simply cannot abandon a program that represents one of our country's 
greatest successes. Second, we should maintain universality and 
fairness. Third, Social Security must provide a benefit people can count 
on, regardless of the ups and downs of the economy or the financial 
markets. Fourth, Social Security must continue to provide protection for 
disabled and low-income Americans. And finally, any reforms we adopt 
must maintain our fiscal discipline.
    Today I'm proud to announce the next important step we'll take in 
putting these principles to work. On December 8th and 9th we'll hold the 
first-ever White House Conference on Social Security to help pave the 
way toward a bipartisan solution early next year.
    Unfortunately, some in Congress already may be backing away from 
this historic opportunity. Just last week the Senate majority leader 
said he may not be willing to join me in our efforts to save Social 
Security. That would be a grave mistake. As with so many other long-term 
challenges, if we act now, it will be far, far easier to resolve the 
problem than if we wait until a crisis is close at hand. I believe we 
must save Social Security and do it next year.
    I pledge to work with anyone from any party who is serious about 
this task. We cannot let partisanship derail our best opportunity to 
strengthen Social Security for the 21st century.
    For more than 60 years now, Social Security has formed the sacred 
bond between the generations. In the words of one elderly woman three 
generations ago, ``It is a precious shield against the terror of 
penniless, helpless, old age.''
    If the Congress you elect in 10 days chooses progress, it can 
strengthen that shield for generations to come. But if it chooses 
partisanship, this historic opportunity will be lost. You have the power 
to shape a Congress that will keep our Social Security system as strong 
for our children as it was for our parents. You have the power to elect 
a Congress pledged to save Social Security first.
    Thanks for listening.

Note: The address was recorded at approximately 6:30 p.m. on October 23 
in the Oval Office at the White House for broadcast at 10:06 a.m. on 
October 24. This transcript was made available by the Office of the 
Press Secretary on October 23 but was embargoed for release until the 
broadcast.