My life

I began with a salute to the new Speaker, who had said he wanted to work with the Democrats in a spirit of civility and bipartisanship. It sounded good and he might have meant it, since the impeachment vote in the House had occurred before he became Speaker. So I accepted his offer. By 1999, our economic expansion was the longest in history, with eighteen million new jobs since I took office, real wages going up, income inequality finally going down a little, and the lowest peacetime unemployment rate since 1957. The state of our union was stronger than ever, and I outlined a program to make the most of it, beginning with a series of initiatives to create a secure retirement for the baby boom generation. I proposed to commit 60 percent of the surplus over the next fifteen years to extend the solvency of the Social Security Trust Fund until 2055, an increase of more than twenty years, a small portion of it to be invested in mutual funds; an end to the limit on what Social Security recipients could earn without penalty; and more generous payments to elderly women, who were twice as likely as men their age to live in poverty. I also proposed to use 16 percent of the surplus to add ten years to the life of the Medicare Trust Fund; a $1,000 long-term–care tax credit for the elderly and disabled; the option to let people between the ages of fifty-five and sixty-five buy into Medicare; and a new pension initiative, USA Accounts, which would take 11 percent of the surplus to provide tax credits to citizens who opened their own retirement accounts, and to match a portion of the savings of workers with more modest incomes. This was perhaps the largest proposal ever made to help modest-income families save and create wealth.

I also proposed a large package of education reforms, arguing that we should change the way we spent the more than $15 billion a year of education aid to “support what works and stop supporting what doesn’t work,” by requiring states to end social promotion, turn around failing schools or shut them down, improve the quality of the teaching force, issue report cards on every school, and adopt sensible discipline policies. I again asked Congress to provide funds to build or modernize five thousand schools and to approve a sixfold increase in the number of college scholarships for students who would commit to teaching in underserved areas.

To give more support to families, I recommended a minimum wage increase, expanded family leave, a child-care tax credit, and trigger locks on guns so that children could not fire them accidentally. I also asked Congress to pass the Equal Pay and Employment Non-Discrimination acts; to establish a new American Private Investment Corporation to help raise $15 billion to create new businesses and jobs in poor communities; to enact the Africa Trade and Development Act to open more of our markets to African products; and to fund a $1 billion Lands Legacy initiative to preserve natural treasures, and a package of tax cuts and research money to fight global warming.

On national security, I asked for funds to guard computer networks against terrorists, and to protect communities from chemical and biological attacks; to increase research into vaccines and treatments; to increase the Nunn-Lugar nuclear safety program by two-thirds; to support the Wye River accord; and to reverse the decline in military spending that had begun at the end of the Cold War. Before closing, I honored Hillary for her leadership in the Millennium Project and in representing America so well all over the world. She was sitting in her box with the home-run–hitting Chicago Cubs star Sammy Sosa, who had joined her on a recent trip to his native Dominican Republic. After all she had been through, Hillary got an even bigger round of applause than Sammy. I ended “the last State of the Union address of the twentieth century” by reminding the Congress that “perhaps, in the daily press of events, in the clash of controversy, we don’t see our own time for what it truly is, a new dawn for America.”