With that in mind, starting on my immediate right. Senator Joseph R Biden junior of delaware. [applause] please, we save time for the candidates to speak. Former Arizona Governor bruce babbitt. [applause] jesse jackson. [applause] Massachusetts Governor michael dukakis. [cheers] junior of albert gore tennessee. [cheers] misery covers been richard gephardt. And illinois senator paul simon. ] may have remind the audience these men are restricted to a minute and a half of time and if you apply the they will have less time to express their views. Director canal, farm of km a radio in shenandoah. George riley managing editor of director ofnews kagan ss radio in sioux city. The official timers are john delight and phyllis sherman. The ground rules for the audience for this nonce partisan nonpartisan debate, no carefree no campaign her yet, no applause until the end of the debate, interruptions by resulting your candidate being deprived of that much time. We ask you please remain seated during debate. We outline these rules so we hope the best use to be made of the time in debating the issues without attractions and we thank you in advance for your cooperation. The format of the debate calls for each candidate to get opening remarks. Next, they will answer panel questions. The third segment calls for each candidate to ask one other. Andidate one question finally, each candidate will give closing remarks. All questions must be on the economic issues. The order of turn was determined by random drawing as was the seating order. Remarksr of closing will be the opposite of the order of the opening remarks. Without further reduce we begin the debate with opening remarks. Each candidate is permitted two minutes. First, mr. Biden. good afternoon ladies and cinnamon. You will hear a lot about Economic Policy today. I think it is important while we listen and speak to this detail, we keep couple of things in my. First, when we talk about statistics were talking about people. When we talk about the farm crisis were talking about the farmer and his wife who at this moment somewhere in iowa are sitting at the Kitchen Table with their bills spread before them, knowing there is no way to make it another day. 180 such farmers a day are in that position. Their hopes and dreams and aspirations are going up in smoke. The second thing to keep in mind is to try to figure out how we get to be such a great nation and the force first place. It seems to me there are two reasons why we are done so well in the past. The first is that every generation of americans has understood that it is its responsibility was to leave to the succeeding generation more prosperous than the one in a inherited. We are not doing that now under the reagan administration. We are leaving our children with gross to 3 trillion debt. We are making it harder for them to get to college. We are shortening their n. Ssibilities rather tha we have always thought of ourselves as a single nation with a unified economy. One economy. What has happened under this administration . Were developing a bicoastal economy. Out easton out west things are going pretty well while the heartland of america is suffocating. While we debate these issues lets put them in concrete terms and understand that when we talk about these statistics were talking about people. The only way we went to the problem is to reestablish a sense of community and oneness, reestablish the sense of idealism that is always moved us along this nation. Lastly, to move ourselves in the direction taking every issue before and viewing it in terms of how little impact upon our children. If we do those two things we will once again is two things, we will once again reestablish ourselves as a giant the world with compassion and understanding for all citizens. Farmer. Heet an iowa told me he was managing to hang on to that form the only way they would make it was with his soninlaw working on the farm and and driving a mail truck up until midnight. His daughterinlaw was working on a fulltime job at a neighboring community. He said to me bruce, i think we can make it through this what i dont understand is why with the rest of the world blossoming with Economic Growth created by americans why is it we are having such a tough time step, stagnating, trying to get that is themake it question for 1988 and for this debate. In order to take charge of americas economy and to get it moving again we need to make three basic changes the first is what i call workplace democracy. We need president ial leadership to bring out the very best of the creativity and americas workers. To bring labor and management together. To say to management when you cut wages for employees to cut them for yourselves. You have to give bonuses to employees. We have to bring people together in the workplace. The second change i advocate is a universal test, to take charge of government and to step up and take charge of that budget. A universal needs test is a question that i would ask it each and every island iowan here. Is a focus on people that need that help . Third, as americans we must result event the neglect of our children and to invest in day care, public education, access to higher education. If we do the things together i can say to ross and his kids that American Tank can take charge and create a Better Future for our children. Thank you. Mr. Jackson . Jackson the milk today is economic violence. 20 years ago dr. King and Robert Kennedy were killed. And their date was racial violence. For us to his daycare cuts, head start cuts, Senior Citizens and their golden years facing tragedy. 38 million jobs leaving this 38nomy. 600,000 farms lost. Million people with no insurance. Economic violence. Merging corporations purging workers, submerging the economy, undercutting the American Worker for the 90 the Playing Field. We must find Economic Justice. We must have a new policy direction. Reinvest in america. Retrain our workers. Three industrialize our nation. Put our farmers back on their farms and Research Commercial velvet. Commercial development. In november. Plants 30,000 jobs. The next week 30,000 jobs were open and south korea. We can do better. In this auditorium today, on the stage, how many of you own or know some who owns a vcr . Raise your hands. Handsdown. There is not one americanmade vcr. Is not our priority. How many you know some who owns a personal missile . Of what theg more world needs less of. We must change our priorities. We can achieve our greatness once again. Our nation does best when it does most. Lets move from economic violence to Economic Justice for everybody. Thank you. Please mr. Dukakis . Thank you for giving me the chance to speak about the future of the iowa economy and the future of our nation. The federal government releases statistics from employment. Massachusetts had Unemployment Rate of 2. 5 . How did this happen . How is it a state that for years ago was a financial basket case is called the massachusetts miracle . We did it by working together. The governor, the legislature, businessmen and women, workers and unions, educators. Lots of good citizens working together, building together, investing together. The real question before us today in the weeks and months ahead is whether we are going to have a president in 1989 who knows how to build an Economic Future that creates real Economic Opportunity and good jobs and good wages for every american new matter who they are really come from over the color of their skin is . A president who will roll up his sleeves and go to work, put our fiscal house in order, investing good schools and good skills that will rebuild our basic interestrate industries. A president that will invest in regional and rural development. A president that has had a Building Partnership for Economic Growth and Economic Opportunity all across america. I believe i have the experience and credibility to be that president. To provide leadership that will bring people together. Leadership that has been tested. Leadership that knows what it means to work with people in communities that five years ago had Unemployment Rates of 14 and 18 and today are enjoying full employment. That is who i am and that is what i believe and i hope i can win your support. And now mr. Gore. Gore i have led to be here and i think it is appropriate that we are talking about farm and trade and Economic Policy. Today in the heartland of america. One of the ironies of our present situation is that several states on the atlantic and pacific coasts are doing well for specialized reasons while people in the heartland, my home area of the south, are not doing nearly as well. We must do better. The solutions we need are not to be found in a collection of narrow interest agendas, nor seencan nor can they be from of the states on the coast. The problems are broader than that and the Solutions Must be bigger than that. The next resident must rebuild a consensus in favor of responsible fiscal policy. There are many steps which must be taken in order to reduce the budget deficit. Let me single out one related policy which i think deserves more attention. In each years budget we are getting enormous sums to the arms race. In the next president can reach a armscontrol agreement, we can redirect large sums of money away from the arms race and towards deficit reduction, investments and Environmental Protection and health care and education. Similarly, when we talk about making america more competitive we should see and understand the close connection between competitiveness and education. We should make a National Commitment to creating the worlds best education system. Ill be talking about creating jobs, lettuce or member this afternoon that 95 of all new jobs are created by Small Businesses. We should have policies that focus on Small Business development. Only talk about agriculture but some talk about one small part of the marketplace. The only active farmer in this race, the entire agricultural economy is suffering. When he improvements in the conversation conservation and reserve program, rural Economic Development, and better farm credit policy. We must focus on Broad National interest and that the economic fortunes of the entire country. Mr. Gephardt . Gephardt we dont have a National Economy today. For have is a series of regional economies. In places where defense spending is high, there is prosperity. Whereces like iowa factories are closing and farms are being foreclosed there is pain and anguish and apprehension. The heart of americas heartland is being torn out. It is happening because in the last seven years weve been challenged only to ask what we can do for ourselves. Noteconomy is in trouble just because of failed economic policies, but because of failed values. We have got to ask again what is right and what is wrong. Wrong tong, just plain be spending billions of dollars on star wars and other vast military systems and just adding the cost to the deficit and never facing up to how were going to pay for. It is wrong, it is just plain wrong to be spending millions of dollars on mercenary soldiers in nicaragua who are killing children when we dont have enough money and our own budgets to help children here in the United States. Tois wrong, just plain wrong pit one region against another. To leave the iowa farmers out in the cold and to leave the oil workers in the southwest without a job. I think that in the days ahead we have got to recognize there is a profound danger at the heart of our society and our economy. It is that we have lost our moral compass. It is time to ask the basic question. Isnt it time that we had a president again who really does not like to the American People and asks us to do what is right for our country, not just for ourselves . Martin luther king jr. Once said what selfcentered men tear down, other centered people can build up. I believe that. I also believe that only when we bring out the real spirit of america can we rebuild our economy and get all of our people opportunity again. [applause] he already exceeded his time, please. Finally, mr. Simon . Simon this afternoon should be more than a political miss america show. That in the next hour and a half all of us on this panel should agree on three where wethings recognize there are Economic Needs in this country. Tooer one, we are spending high of a percentage of our National Income on weapons. Number two, we have to make education a greater priority. Number three, we have to face the problems with our Older Americans so they dont need to face those years with fear and their families with crushing debt. I would like to add other things like a good, vigorous family thatprogram and a program would guarantee a job opportunity to every american. I recognize these are more controversial. In response to this three specific needs, let me ask my colleagues if we cannot agree this afternoon to do these three things. Number one, the matter which one of us is elected president on january 21, 1989 if the soviets will agree, we will stop all nuclear testing. It is verifiable and would be a significant step away from the arms race. Number two, that we will massively attacked the problem of adult illiteracy and provide significant funding for intensive preschool education and in disadvantaged areas. We know that if you have that intensified preschool education, there is a medic change in the dropout rate in the teenage pregnancy rate, and the crime rate. Lets do something about it. Third, lets pledge that we will thata selffinance Program Moves on the problem of longterm care for Older Americans. If we could agree on these three things today, and in future encounters agree on additional things, we would begin to provide this nation and alternative. A constructive program. Lets start on it this afternoon. [applause] it is time now for the panel of questions. Eight candidate will have one and half minutes to respond to the question. Each of the others will have a minute and a half to comment on that same question if they so wish. The first question comes from our panelists. My question is to mr. Babbitt. Back in the middle of the industry that is to contribute positively to the United States exports and quite possibly has had an influence on our balance of payments. My question is what are your proposals to continue these positive conservations and will these proposals operate within the gap negotiations without subjecting the United States agriculture to even more financial problems . Mr. Babbitt my first problem is the reagan agricultural policies. The president announced he intends to terminate agricultural support programs. I think that is morally wrong. That is a death sentence for the American Family farm. What he is really saying is he will stand by while iowa becomes nothing but a giant plantation operated by sharecroppers. That is wrong. Gephardt and others have proposed mandatory production extremes. Nd other these are wellintentioned but i dont think they will work. I think Agricultural Production controls are isolationist. They will destroy american markets abroad and drive up prices a grocery stores. Take existing programs and make them work. When you make them work by getting the agribusinesses out. We have to stop these processes of sending 10 milliondollar checks to farms in california. 10 milliondollar it ought to be moved not down, but up so that we can say the family farmers. That Family Program is meant that his the reflection of a purpose of the human Thomas Jefferson to keep people on the farm and he that farm helping. Thank you mr. Jackson. This jackson farmers are working in producing and deserve fair prices for their production. Farmers want parity and a charity. 600,000 farms have been german have an german from their land with nowhere to go. They are allowed the farm Credit System which i support. These two pages of our government have three and half million acres of land that was taken from the farmers. Recovery must be defined not by how much big farmers gets a more subsidy, but by how quick we get those 600,000 farmers their land back. And then go beyond that. Supply management. Agriculture is an international industry. We must have an International Conference on food and agriculture to stabilize prices worldwide, to establish a floor beneath which no farmer can fall. Farmers want parity and not charity. If we give the farmer charity, we give their sales because if we of a nation turn our backs to the hand that have fed us, that is a combination of us as a nation. Farmers deserve a chance. If we can bailout and help andsler, europe, and japan, 18 billion overrun for a b1 bomber, we can help the farmer. Mr. Dukakis . Dukakis we have to help those farmers who are in trouble financially to get to this credit crisis. I think the bill that the House Committee put out was a good one. Especially the provisions of will help foreclosure on their work since of the restructuring the loan for the farmer. Second, we need a balanced program of supply management and reasonable price suppor