US Presidency
1984

Our rural and farm friends will have continued devastation. Real interest rates, the real cost of interest, will remain very, very high, and many economists are predicting that we're moving into a period of very slow growth because the economy is tapering off and may be a recession. I get it down to a level below 2 percent of gross national product with a policy that's fair. I've stood up and told the American people that I think it's a real problem, that it can destroy long term economic growth, and I've told you what I think should be done. I think this is a test of leadership, and I think the American people know the difference. Mr. Wieghart. Mr. Mondale, one other way to attack the deficit is further reductions in spending. The President has submitted a number of proposals to Congress to do just that, and in many instances the House, controlled by the Democrats, has opposed them.