US Presidency
1981

And that doesn't include the additional savings from the hundreds of burdensome regulations already cancelled or facing cancellation. For 19 out of the last 20 years, the Federal Government has spent more than it took in. There will be another large deficit in this present year which ends September 30th, but with our program in place, it won't be quite as big as it might have been. And starting next year, the deficits will get smaller until in just a few years the budget can be balanced. And we hope we can begin whittling at that almost $ 1 trillion debt that hangs over the future of our children. Now, so far, I've been talking about only one part of our program for economic recovery the outstanding part. I don't minimize its importance. Just the fact that Democrats and Republicans could work together as they have, proving the strength of our system, has created an optimism in our land. The rate of inflation is no longer in double-digit figures.