The American economy remains sound and strong, and I want to keep it that way. But because the turmoil in Asia will have an impact on all the world's economies, including ours, making that negative impact as small as possible is the right thing to do for America, and the right thing to do for a safer world.

Our policy is clear: no nation can recover if it does not reform itself, but when nations are willing to undertake serious economic reform, we should help them do it. So I call on Congress to renew America's commitment to the International Monetary Fund.

And I think we should say to all the people we're trying to represent here, that preparing for a far off storm that may reach our shores is far wiser than ignoring the thunder 'til the clouds are just overhead.

A strong nation rests on the rock of responsibility. A society rooted in responsibility must first promote the value of work, not welfare. We could be proud that after decades of finger-pointing and failure, together we ended the old welfare system. And we're now replacing welfare checks with paychecks.

Last year, after a record four-year decline in welfare rolls I challenged our nation to move two million more Americans off welfare by the year 2000. I'm pleased to report we have also met that goal two full years ahead of schedule.

This is a grand achievement, the sum of many acts of individual courage, persistence and hope.

For 13 years, Elaine Kinslow of Indianapolis, Indiana was on and off welfare. Today she's a dispatcher with a van company. She's saved enough money to move her family into a good neighborhood. And she's helping other welfare recipients go to work.

Elaine Kinslow and all those like her are the real heroes of the welfare revolution. There are millions like her all across America, and I am happy she could join the first lady tonight. Elaine, we're very proud of you. Please stand up.

We still have a lot more to do, all of us, to make welfare reform a success; providing child care, helping families move closer to available jobs, challenging more companies to join our Welfare to Work Partnership, increasing child-support collections from deadbeat parents who have a duty to support their own children. I also want to thank Congress for restoring some of the benefits to immigrants who are here legally and working hard. And I hope you will finish that job this year.

We have to make it possible for all hard-working families to meet their most important responsibilities. Two years ago, we helped guarantee that Americans can keep their health insurance when they changed jobs. Last year, we extended health care to up to 5 million children. This year, I challenge Congress to take the next historic steps. A hundred and sixty million of our fellow citizens are in managed care plans. These plans save money, and they can improve care. But medical decisions ought to be made by medical doctors, not insurance company accountants.