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REMARKS BY: TOMMY G. THOMPSON, SECRETARY OF HEALTH AND HUMAN SERVICES PLACE: Bear Stearns Health Conference, Washington, D.C. DATE: September 27, 2001
The terrorism that struck New York City two weeks ago touched many of you in a direct, personal way, I'm sure. To those of you who suffered a loss, please accept my deepest sympathies.
I understand there are people on this call from other countries, so let me also express the Administration's gratitude for the outpouring of support from your governments, and just as importantly, from your citizens. We draw great comfort from it.
I'm reminded of the words of the distinguished Canadian journalist Gordon Sinclair. In the 1970s, when America was recovering from the Vietnam era and the unrest of the 1960s, it was easy to take shots at our great country.
But Mr. Sinclair, writing from Canada, wrote, and I quote, "I'm one Canadian who is tired of hearing Americans get kicked around. They will come out of this thing with their flag high." That's as true today as it was two decades ago.
The attack on America took lives and crushed buildings, but it did not destroy America's spirit. It re- awakened it. I'm reminded of what Winston Churchill said during the trying days of the Second World War:
"These are not dark days: these are great days --- the greatest days our country has ever lived; and we must all thank God that we have been allowed, each of us according to our stations, to play a part in making these days memorable in the history of our (nation)."
Those are more than just stirring words. They are living truths. These are great times - we are a free nation with unparalleled economic strength, the greatest armed forces in the world and a deeply rooted faith. Like we always have in the past, we will not only overcome - we will triumph.
The courage and compassion demonstrated in New York and all around the country have brought us together as Americans, while building our resolve for the great tasks ahead.
The people and management of Bear Stearns provide a tremendous example of what I'm talking about. Last week, you announced a commitment from your firm and your employees to create a $10 million charitable fund to benefit the victims and families of the World Trade Center disaster. Ten million dollars will help many people begin the process of rebuilding their lives. Let me thank you for your generosity and your commitment to our fellow countrymen.
You also stood by plans to repurchase a full $1.2 billion in shares from the market, providing a stabilizing force during a volatile time for Wall Street. I applaud all of you whose firms are engaged in similar endeavors.
Let me add one more thing about Bear Stearns, a firm I knew well during my 14 years as governor of the great state of Wisconsin. You made the right decision to go ahead and conduct this health-care conference, adjusting the format in light of the changed circumstances.
As President Bush recently reminded us, the best way to fight terrorism is to not let terrorism intimidate America. We're moving forward, conducting business, planning for our future with the same bold confidence that's always characterized the American people.
Any group that thought it could derail our purpose or our resolve made a major miscalculation. They simply didn't understand America.
And just as we're resolute in facing down the terrorists, we have to be resolute in sustaining our confidence in the economy. We have every reason to have confidence because the fundamentals of our economy remain sound.
Moreover, this administration is watching the economy like a hawk and is taking strong, aggressive measures to foster higher, non-inflationary growth and strengthen the well being of companies and consumers alike.
The tax cuts President Bush successfully fought for are putting $50 billion into consumers' pockets. We can see the wisdom of his policies ever more clearly now. And the $40 billion emergency relief bill represents a significant down payment in the federal government's commitment to recovery efforts.
One more thing - and to those of you in New York, please listen - we're going to rebuild New York City better than its ever been. The airplanes destroyed buildings. They didn't even touch our spirit, our resources or our resolve. When it comes to New York City, as Ronald Reagan would say, "you ain't seen nothin' yet."
The Bush Administration is positive about the future of our economy. But we need your help and your support. So let me ask for your counsel and your help. You are central to the growth and productivity our economy needs.
On behalf of the President, let me affirm to each of you that we're eager to work with you in moving the economy forward. Your input and knowledge will be vital to our success. During the question and answer time, let me know what you think needs to be done. I welcome your guidance and comments.
Now, my good friend Nick Hertgen from your Chicago office tells me there's another subject that's high on your list, and that's who is going to be the next head of the Food and Drug Administration.
I can assure you that I've made my views on who should head the FDA known to the President and the committee considering the appointment, and the President will announce the nomination in due course. I'm sure you will be pleased with the final selection.
As to health care, it's clear to all of us that the past two weeks have forced a reordering of priorities. That is as it should be. Our priorities cannot stay the same.
But the President's principles have not changed, and he has told all of his Cabinet secretaries to vigorously pursue his domestic initiatives.
The President is committed to modernizing Medicare, adding a prescription drug benefit to it and giving seniors more options about the kind of Medicare they receive.
The President is also staying the course with the patient protection compromise plan he put together this past summer. Patient protections are vital, and need to be provided in the right way.
President Bush values innovation and state and local experimentation. His budget provides significant increases in medical research. And he knows it is counterproductive to put additional, expensive burdens on business - especially given the current economy.
Well, I've just touched on some of the key issues, but I want to stop there and let you ask some questions. I know some of you are interested in Medicare-plus-choice, prescription drugs and other issues.
But first let me leave you with a quote by one of the greatest New Yorkers of all time, one of my heroes, Teddy Roosevelt. We've all learned a lot from the brave people of New York City these past two weeks, and Teddy Roosevelt's words are especially appropriate for this time in our nation's history.
As he put it, and I quote, "Life is not easy . and least of all is it easy for either the (person) or the nation that aspires to great deeds."
As Americans, aspiration to great deeds is a part of who we are. While these are not easy times, they are great times because we've been reminded again of who we are and what things we cherish the most: faith, family, freedom and the enduring bonds of our common dreams and our proud heritage.
To borrow another phrase from Winston Churchill, we're going forward together to achieve great things for our country.
Thank you for letting me talk with you. I'm glad to answer some questions.