Remarks at a Democratic Business Council dinner

Weekly Compilation of Presidential Documents, Feb 3, 1997

Thank you very much. Well, thank you, Carol. Thank you, Steve. Roy, I won't ever make you stay in that bed again. [Laughter] I was simply trying to get even for all the nights he's bent my ear. [Laughter]

I want to thank all the officers of the Democratic Party who are here, all the distinguished elected officials, and all the members of our administration who are here. And I want to thank you.

Some of you may have noticed that I had a press conference today where there was one or two questions about campaign finance. [Laughter] And they said, "Well, does it set a good example that you're going to this fundraiser tonight?" And I said, "Yes, I think it does, because there is no system which has been offered which is completely publicly funded from start to finish and funds the political parties. So we have to depend upon people to help us."

And this group, as Alan Solomont said earlier, has been responsible for dramatically increasing the number of business people and entrepreneurs all across America that have been a part of our party, broadening our base, giving us a chance to go forward. I thank you, Tom, for being willing to take over the leadership of it. I think it's a good thing if people like Tom or Steve, who had a very successful career in business and worked at the grassroots level, want to come in and be part of the Democratic Party.

I also think it's terribly important that the President see as many people as possible, from as many walks of life as possible, from as many places in this country as possible, who actually know something about what's going on in the country and how people are living and what the challenges are.

And as I said today, I never had anyone in 4 years who asked me to make a decision as President based on being a financial contributor, and I have never made such a decision. But I think we should listen to each other. I mean, you all have to listen to me all the time, and every now and then for me to take a little time to listen to you I think is pretty good because even Presidents need to learn. And almost no one learns when they're talking, and almost no one fails to learn when they're listening.

So I think this is a good thing, and I welcome you here, and I hope you're glad to be here. And let me also say that - [applause]. Thank you. Having said that, I do want to compliment the new leadership of the party and the old leadership of the party for taking some unilateral initiatives to push the campaign finance reform system along by coming out against things that are legal that we're not going to do anymore because we want to try to push the system along, saying that if you can't vote, you shouldn't contribute, that companies that are primarily foreign-owned should not contribute, and that we would limit our large contributions. I think that's a good thing.

But I also would urge you to help us pass a campaign finance reform bill that is fair, that is bipartisan, that does not give undue advantage to either party, and that gives challengers as well as incumbents a fair chance at the ears, the minds, and the hearts of the voters. I think that's a very important thing to do.

We were talking around the table here at dinner - my impression is - and I ran for Congress in 1974 and got beat by the way, but I did all right - but that was the first election under the old campaign finance reform, which was then the new campaign finance reform law. And my impression is that it did work to give people a greater degree of confidence that there were reasonable rules, regulations, and balance in the funding system.

What's happened now is the explosion of technology and the escalation of cost and the multiplication of the way people communicate with one another and the proliferation of various groups who are doing it, and two Supreme Court decisions have basically swamped the old system.

Now, there are very few of you who run enterprises who, even if you've been in business 20 years, could possibly be using the same communication system with the same budget in the same way that you were 20 years ago. So it is unreasonable to expect that our Nation could have the right balance drawn between having a system that is largely privately financed but has adequate rules of disclosure, rules of conduct, and limitations, with a system that was written over 20 years ago, during which time we've had the biggest explosion in differences in the way people communicate and relate to each other politically than in any 20-year period certainly in the 20th century. So I hope you will help us get that done.

The other point I'd like to make to you tonight is that you ought to be proud of what you have done. You know that the, the sort of superficial results: In '96 we had our first successful reelection for a President in 60 years. And someone, just to make sure I understood that, sent me the January 4, 1937 copy of Life Magazine, which I had framed and hung up in the White House so I don't forget that.

We elected a Democrat, the first Asian-American Governor in the United States, something I'm very proud of. That's another thing I want to say. We welcome first-generation immigrant Americans into the Democratic Party - [applause] - we want them here. And it has been my personal experience - one of the richest aspects of being President and running for President twice has been getting to know in a personal way very large numbers of people who are first-generation Americans, who still come to our shores seeking opportunity and making opportunity. And virtually without exception, they give this country many times over what they ever ask from it. And I think that is a very good thing.