US Presidency
1961

Meany made an outstanding speech on this matter several weeks ago, and it's a matter which is of concern to this administration. I am sure you wonder, perhaps, why we're placing so much emphasis on it, and I would like to say why we are, very briefly. The first is, this country must maintain a favorable balance of trade or suffer severely from the point of view of our national security. We sell abroad now nearly $ 5 billion more than we import. But unfortunately that $ 5 billion goes abroad in order to maintain the national security requirements of the United States. We spend $ 3 billion of that in order to keep our troops overseas. It costs us nearly $ 700 to $ 800 million to keep our divisions in Western Germany, and $ 300 million to keep our troop establishments in France. And what is true in France and Germany, which are outposts of our commitments, is true in other areas.