‘92 POLITICAL PERSPECTIVE : How Business Views the Election

To monitor business’s pulse on politics, The Times will present California executives’ and business owners’ opinions about the presidential election. This is one in a series of snapshots. Name: Eli Broad Company: Broad Inc., Los Angeles Position: Chairman and chief executive Registration: Democrat Q. Who gets your vote? A. Bill Clinton. Q. Why? A. It is clearer today than ever that we need a change in leadership. The American people do not have any confidence in the way the economy is going. You could put interest rates even lower, but people still won’t buy houses and cars because they don’t have faith that things are going to get better. We need new policies, new leadership. Q. What are the main issues for your business? A. Consumer confidence. Two-thirds of the economy is consumer spending. Until you get the consumer feeling better, things are not going to turn around. Q. What specifically should be done? A. Congress and the President proposed a tax credit for first-time home buyers. That’s vital because housing has gotten us out of the last six or seven recessions. There’s a strong multiplier effect because when people buy houses, they also buy landscaping and furniture and insurance. Also, if you could do something to get American consumers to buy American cars, that would help prime the pump. Q. How does Clinton strike you personally? A. I’ve known Bill Clinton for a number of years and seen him grow. He’s clearly up to the challenge and well prepared to be President--frankly, more so than John Kennedy was when he was elected.