Remarks to the Congressional Hispanic Caucus Institute dinner

Weekly Compilation of Presidential Documents, Sept 28, 1998

I thank the Vice President for mentioning those who serve and who have served in the Cabinet, in high administration positions, and in the White House. I thank you for all you have done as well.

Now, having said that, the real question before us this evening is, what shall we do with this moment of prosperity? What shall we do with this moment of opportunity? You know, a lot of people, when times get really good, tend to do one of two things, and I would argue both of them are wrong. One, just say, "Well, I've worked really hard. Times have been tough. I think I'll just relax for a few years." Or, two, is to say, "Well, things are so good, nobody can mess it up. So I think I will just indulge myself in some diversion." As a country we cannot do that.

I tell you tonight, my friends, that the challenge before us is, what do we do with this prosperity; what do we do with this confidence; what do we do with these good times? I feel very strongly that we need to say loud and clear that we believe that the time has come to thank God for our blessings and then to say we intend to use these blessings to meet the big challenges facing America that will shape the future of our children, and to go back and pick up those folks who have not participated in the benefits of the last 6 years and give them a chance to do it as well.

There was an old Mexican proverb that says, "El que no siembra, no levanta;" "he who does not sow, doesn't get a crop." It is time to sow the seeds of the future, to build the America we want for our children. We cannot afford to rest; we have work to do.

And what is that work? First, we cannot rest until we save Social Security for the 21st century. Now, what do I mean by that? Every person in this audience thrills whenever anyone refers to mi familia. Our family, our national family, is getting older; I ought to know. I am. I'm the oldest 52-year-old man in America. [Laughter] I am the oldest of the baby boomers, all of you who are my age.

When all of us are retired, there will only be about two people working in America for every one person drawing Social Security. Now, we have three choices. We can do something now, modest but disciplined, to preserve this system into the future, with all of its benefits. Or we can do nothing until the crisis occurs, and we'll have two choices. Those of us who are older can expect our children to hike their taxes a lot and lower the standard of living of their children. Or we can just do without a lot of the benefits that have lifted half the seniors in America out of poverty today. I don't think either one of those is a very good choice.

In just a few days we will have the first balanced budget and surplus in 29 years. Now, I believe if we really care about our national family, we ought to stand up and say, "Look, we know it's just a few weeks before the election. We know there are those on the other side who say that we ought to have a tax cut right now based on projected surpluses into the future. And we know that's widely popular at election time." But we didn't get the lowest unemployment rate in 28 years and the first balanced budget and surplus in 29 years by doing what was popular today. We did it by doing what was right for the long run, and we'd like to at least see the ink turn from red to black, then dry a little bit and save Social Security before we squander this surplus. That is what I believe we should do. [Applause] Thank you.