US Presidency
1978

We know that Government is not the only cause of inflation. But it is one of the causes, and Government does set an example. Therefore, it must take the lead in fiscal restraint. We are going to hold down Government spending, reduce the budget deficit, and eliminate Government waste. We will slash Federal hiring and cut the Federal work force. We will eliminate needless regulations. We will bring more competition back to our economy. And we will oppose any further reduction in Federal income taxes until we have convincing prospects that inflation will be controlled. Let me explain what each one of these steps means. The Federal deficit is too high. Our people are simply sick and tired of wasteful Federal spending and the inflation it brings with it. We have already had some success.