In one of those letters exchanged in the sunset of their lives, Jefferson wrote: "It carries me back to the times when, beset with difficulties and dangers, we were fellow laborers in the same cause, struggling for what is most valuable to man, his right to self-government. Laboring always at the same oar, with some wave ever ahead threatening to overwhelm us, and yet passing harmless ... we rode through the storm with heart and hand."
Well, with heart and hand, let us stand as one today: One people under God determined that our future shall be worthy of our past. As we do, we must not repeat the well-intentioned errors of our past. We must never again abuse the trust of working men and women, by sending their earnings on a futile chase after the spiraling demands of a bloated Federal Establishment. You elected us in 1980 to end this prescription for disaster, and I don't believe you reelected us in 1984 to reverse course.
At the heart of our efforts is one idea vindicated by 25 straight months of economic growth: Freedom and incentives unleash the drive and entrepreneurial genius that are the core of human progress. We have begun to increase the rewards for work, savings, and investment; reduce the increase in the cost and size of government and its interference in people's lives.
We must simplify our tax system, make it more fair, and bring the rates down for all who work and earn. We must think anew and move with a new boldness, so every American who seeks work can find work; so the least among us shall have an equal chance to achieve the greatest things--to be heroes who heal our sick, feed the hungry, protect peace among nations, and leave this world a better place.
The time has come for a new American emancipation--a great national drive to tear down economic barriers and liberate the spirit of enterprise in the most distressed areas of our country. My friends, together we can do this, and do it we must, so help me God.-- From new freedom will spring new opportunities for growth, a more productive, fulfilled and united people, and a stronger America--an America that will lead the technological revolution, and also open its mind and heart and soul to the treasures of literature, music, and poetry, and the values of faith, courage, and love.
A dynamic economy, with more citizens working and paying taxes, will be our strongest tool to bring down budget deficits. But an almost unbroken 50 years of deficit spending has finally brought us to a time of reckoning. We have come to a turning point, a moment for hard decisions. I have asked the Cabinet and my staff a question, and now I put the same question to all of you: If not us, who? And if not now, when? It must be done by all of us going forward with a program aimed at reaching a balanced budget. We can then begin reducing the national debt.