US Presidency
1984

And now it is time for the rebuttal. Mr. President, 1 minute for rebuttal. The President. Yes. I don't believe that Mr. Mondale has a plan for balancing the budget; he has a plan for raising taxes. And, as a matter of fact, the biggest single tax increase in our nation's history took place 1977. And for the 5 years previous to our taking office, taxes doubled in the United States, and the budgets increased $ 318 billion. So, there is no ratio between taxing and balancing a budget. Whether you borrow the money or whether you simply tax it away from the people, you're taking the same amount of money out of the private sector, unless and until you bring down government's share of what it is taking. With regard to Social Security, I hope there'll be more time than just this minute to mention that, but I will say this: A President should never say never. But I am going to violate that rule and say never.