In Irvine, Clinton praises U.S. economic boom

At the inaugural Granoff Forum, the president extolled the 'new economy." The Constitution says the president of the United States can only serve two terms in office. But President Clinton got a chance for a third inauguration yesterday in Irvine Auditorium when he kicked off the Granoff Forum, going down in history as the new program's first speaker. "I want to thank Michael Granoff for giving me a chance to attend one more inaugural than I'm entitled to under the Constitution," Clinton joked at the beginning of his speech, eliciting laughter from the approximately 1,000 students, faculty and elected officials packed into Irvine. And then Clinton got down to business. Delivering an address entitled "The New Economy," the president outlined both his administration's economic achievements and what he believes needs to be done to sustain economic prosperity in the future. Clinton focused his 35-minute speech on what perhaps may be his greatest legacy as president -- the longest economic expansion in the history of the country. This prosperity, the president said, is a result of his administration's strict fiscal policy and the proliferation of the information technology. "When I took the oath of office as president, there were 50 sites on the World Wide Web," Clinton said. "There are millions and millions now." But Clinton was quick to note that these were not the only reasons for economic prosperity, citing America's capital markets as a factor. "That's why you have so many people just a couple of years older than most of the undergraduates here who are worth millions of dollars with their dot.com companies," the president said. And even though Clinton will be leaving the Oval Office in less than a year, he gave yesterday's audience a few tips on how to make sure the boom lasts in the next administration. "The first thing is, you can't forget what got us here," Clinton said, noting the importance of continued fiscal discipline. Clinton said that his 1993 budget, which passed each house of Congress by just one vote, began the process of cutting the deficit. "We've got to stay on course in expanding trade. We've got to bring economic opportunities to people and places that haven't had them here in the United States," the president continued. "We've got to lead to the far frontiers of science and technology. We've got to close the digital divide." But not everyone thought that Clinton's administration was as effective as the president seemed to portray. "The economy is booming. I think that he wants to take more responsibility for it than is actually his," History Professor Bruce Kuklick said after the speech. "If the economy were bad, he'd be blaming other people." Yet others said the president's speech was an entirely fair appraisal of today's economy. "I don't think Clinton gets anywhere near enough credit for the economic boom we are in," School of Arts and Sciences Dean Samuel Preston said last night. "People who don't like Clinton say it's got nothing to do with Clinton. I think Clinton made a very strong case for the importance of his fiscal policies," Preston added. The president's visit attracted approximately 1,000 people to the Penn campus, including local officials and Congressmen Joseph Hoeffel, Chaka Fattah and Robert Brady. University President Judith Rodin introduced the president after his arrival to Irvine Auditorium shortly before 4 p.m. yesterday. "There certainly is no question that the United States has resumed its position as the leader of the global economy," she said. Philadelphia Mayor John Street and Penn alumnus Michael Granoff, who helped fund yesterday's speech and invited the president to kick off the new lecture series, also spoke at the event. Clinton's trip to Philadelphia required the collaboration of hundreds of members of the University Police Department, the Philadelphia Police Department and the U.S. Secret Service to make Irvine Auditorium -- and West Philadelphia -- a safe place for the president to speak. And according to University Police Deputy Chief of Investigations Tom King, the joint effort worked. "The Secret Service obviously are pros at this and fortunately we have liaisons with not only the Secret Service but with the Philadelphia Police," he said after Clinton spoke yesterday. "It's almost a template for the quintessential job -- everything was well coordinated."

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