STATEMENT BY GOVERNOR BILL CLINTON ON RISE IN UNEMPLOYMENT July 2, 1992 Last month, the President said "the economy is moving" and people would feel it. The next day, the unemployment rate soared to an eight year high of 7.5%. Today's painful figures, and the threat of a triple-dip recession, only illustrate how much we need a bold economic strategy to rebuild America and invest in our people. Unfortunately, over the last month, the President has done nothing but throw up his hands and send out his top economic advisors to criticize me for doing what he has never done: proposing a national economic strategy. The President just doesn't understand that people want economic leadership, not more political blame. Now, as the number of unemployed Americans nears a staggering 10 million, it is clear that we can't afford another four years of wait-and-see, do-nothing economics. We can't afford a President who is willing to do anything to keep his job, but nothing to help average, hardworking Americans keep theirs. We need an economic action plan now. During the Bush-Quayle Administration, the American workforce has seen their pay actually decline, while growth per American has been negative for the first time since Herbert Hoover was President. The American people deserve better. Over this same past month, I have laid out my National Economic Strategy for "Putting People First" to get the economy moving again. My plan is a comprehensive and bold action plan to invest $50 billion more each year in our people so that we can create millions of new jobs and build longterm economic growth. We must put Americans to work today to build the economic foundation for tomorrow.