For Immediate Release
Office of the Press Secretary
January 30, 2001
Remarks by the President and Treasury Secretary Paul O'Neill During Secretary O'Neill's Swearing in Ceremony
The Oval Office
12:06 P.M. EST
THE
PRESIDENT: Well, I'm pleased to welcome Nancy O'Neill and
the O'Neill family here. Thank you all for
coming. It's an honor for both the Vice President and I to
say some words about the Secretary of Treasury. With Paul over at the
Treasury, he is literally a next door neighbor. And I'm
going to see a lot of him right here in this office. He'll
be a valued advisor and a steady hand.
Secretary O'Neill has served in this office
before, at the Office of Management and Budget. He
understands the workings and responsibilities of the Executive
Branch. More then that, he understands the private sector,
where he and others like him have been driving our country's economic
boom.
In a distinguished career, Paul has earned a
reputation as a straight shooter and an innovator. And I'm
proud to welcome him as the Chief Financial Officer of this
nation. Paul and I share a great goal: to make
sure that all Americans can find high paying, high quality
jobs. And we share a vision of how to get
there. Our prosperity depends on free trade, less regulation
and America's strong place in our global economy. More than
ever, American jobs depend on America's standing in the world.
I value Paul's vast experience in the world
economy. I value his background in employing American
workers. And I value his steadiness, his conviction and his
authority. We also share a belief that broad, responsible
tax cuts are an important step we can take to regain the momentum of
our economy. When we reduce the income tax burden, we must
do so for everybody who pays taxes.
When we have a government surplus, we must
prioritize and spend responsibly and return some of that surplus to the
people who worked for it. Because our government has a
surplus does not mean that every American family has a
surplus. In fact, many families are feeling squeezed by high
energy prices and credit card debt. We need to give them
their own money back, to help families manage their own account, to pay
down their own personal debts.
Our tax cut will give the biggest percentage
reductions to people who struggle to get into the middle class, and
American families who struggle to stay there.
I believe in leaving more dollars with the
people who earned them, and so does Secretary O'Neill. And
I'm proud that those dollars will soon bear the signature of Secretary
Paul O'Neill.
Congratulations, Mr. Secretary.
SECRETARY O'NEILL: Thank you, Mr.
President, Mr. Vice President. Thank you also to my
wife. This is a new form of
retirement. (Laughter.) I'm deeply honored to be asked by
the President to serve in his Cabinet and to have this important
responsibility to help him realize the vision that he has for America.
The reason I've chosen this over retirement is
because I do believe deeply in the things that he has articulated as a
vision for our country. And in my portfolio is obviously a need to
move on with giving the American people's money back to them, which we
are dedicated to doing. And I look forward to that, and
working with the President and the Vice President to deliver a solution
for Social Security, which has been promised, and on the many other
important objectives, beginning with education.
So, thank you again, Mr. President.
THE PRESIDENT: Mr. Secretary, thank
you.
Why don't we have a family picture, too, if
you'd like one. Come on up.
SECRETARY O'NEILL: I have four
children, and three of them are here today. And I have 12
grandchildren, and only a few of them are here. But we need
the President, yes, indeed.
END 12:10
P.M. EST
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