First, we must keep our Nation prosperous. We seek full
employment opportunity for every American citizen. I will present a budget
designed to move the economy forward. More money will be left in the hands
of the consumer by a substantial cut in excise taxes. We will continue
along the path toward a balanced budget in a balanced economy.
I confidently predict--what every economic sign tells us tonight--the
continued flourishing of the American economy.
But we must remember that fear of a recession can contribute to the fact of
a recession. The knowledge that our Government will, and can, move swiftly
will strengthen the confidence of investors and business.
Congress can reinforce this confidence by insuring that its procedures
permit rapid action on temporary income tax cuts. And special funds for
job-creating public programs should be made available for immediate use if
recession threatens.
Our continued prosperity demands continued price stability. Business,
labor, and the consumer all have a high stake in keeping wages and prices
within the framework of the guideposts that have already served the Nation
so well.
Finding new markets abroad for our goods depends on the initiative of
American business. But we stand ready--with credit and other help--to
assist the flow of trade which will benefit the entire Nation.