US Presidency
1974

There is only one point on which all advisers have agreed: We must whip inflation right now. None of the remedies proposed, great or small, compulsory or voluntary, stands a chance unless they are combined in a considered package, in a concerted effort, in a grand design. I have reviewed the past and the present efforts of our Federal Government to help the economy. They are simply not good enough, nor sufficiently broad, nor do they pack the punch that will turn America's economy on. A stable American economy can not be sustained if the world's economy is in chaos. International cooperation is absolutely essential and vital. But while we seek agreements with other nations, let us put our own economic house in order. Today, I have identified 10 areas for our joint action, the executive and the legislative branches of our Government. Number one: food. America is the world's champion producer of food. Food prices and petroleum prices in the United States are primary inflationary factors.