BASIC POLICIES
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.
ON THE FARMS
Our economy owes much to the efficiency of our farmers. We must continue to assure them the opportunity to earn a fair reward. I have instructed the Secretary of Agriculture to lead a major effort to find new approaches to reduce the heavy cost of our farm programs and to direct more of our effort to the small farmer who needs the help the most.
INCREASED PROSPERITY