Perot Launches Third-Party Presidential Bid

Accepts Reform Party Nomination

VALLEY FORGE, Pennsylvania (CNN, Aug. 18)--Texas billionaire Ross Perot unleashed his heavy verbal artillery on Democrats and Republicans alike Sunday as he fired the first salvo in his second third-party bid for the presidency.

Perot's attack came at Valley Forge, Pennsylvania, as he accepted the Reform Party's nomination, which he won in a mail, telephone and Internet poll.

At a raucous rally, Perot, who won 19 percent of the vote in the 1992 presidential election, made an impassioned promise to fix the nation's problems. (278K WAV sound)

In his classic discourse, using charts as usual, Perot hammered at the Republican and Democratic parties, accusing both parties of escalating the national debt and being manipulated and controlled by "special interests." (272K WAV sound)

Perot attacked trade agreements and budget deficits amid delegate cheers. His supporters waved signs reading "Repeal NAFTA" "Abolish the Federal Reserve" and "Ross the Boss."

"Can we count on the two political parties to solve these problems"? Perot asked. "They (Republicans and Democrats) are the problem." (295K WAV sound)

Last week, Perot collected 32,145 votes, or 65.2 percent, while former Colorado Gov. Dick Lamm claimed 17,121 votes, or 34.8 percent of the some 50,000 votes cast.

Three days after Republicans nominated Bob Dole for president, Perot received the nomination of the party he founded and financed.

Opponents barely civil to each other

In his opening statement, Perot paid brief tribute to Lamm.

Earlier, Lamm addressed the convention and equally briefly congratulated Perot, but said he does not know whether he will vote for Perot.

"I'm going to sit on my back porch for a couple of weeks and really think about this," Lamm said.

Lamm devoted most of his speech to an appeal to cut off immigration to the United States while welcoming and continuing benefits for immigrants already in this country.

"There's a question of how many, who should they be and how should they be chosen. When the bathtub overflows, one turns off the tap," he said. "Do we want to have as many people as they do in India?"

After addressing his supporters at Valley Forge, Perot reached out to voters through CNN's "Larry King Live" show.

In his first presidential bid, Perot spent nearly $60 million of his own money, most of it on television commercials in which he appeared with a pointer and charts to support his argument that neither Republicans nor Democrats were taking effective action to balance the budget and reduce the size and power of the federal government.

The 19.7 million votes Perot received in 1992 qualified his new party for $30 million in federal campaign funds. He said on CNN's "Larry King Live" Sunday night that he plans to accept the money, which would limit him to spending $50,000 of his own funds.

VP pick still to come

Another major decision facing Perot was the choice of a vice presidential candidate, a process campaign managers say Perot is starting soon.

Though Perot will likely participate in presidential debates as he did four years ago, the Republicans and Democrats are downplaying his impact on this election year.

Rep. Richard Gephardt, the House Democratic leader, predicted Perot would not have an effect on this election.

House Speaker Newt Gingrich, R-Georgia, said on CBS' "Face the Nation" that Republicans "should ignore Perot. "Our job is to offer a solution. Let Ross Perot do what he wants to do."

But Reform Party National Coordinator Russ Verney says it would be a mistake to try and ignore Perot.

"They're not going to be able to do that," Verney said. "Ross will take his message directly to the American people."

Perot Launches Third-Party Presidential Bid

Accepts Reform Party Nomination

Opponents barely civil to each other

VP pick still to come

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