US Presidency
1974

When Congress agrees to this spending target, I will submit a package of budget deferrals and rescissions to meet this goal. I will do the tough job of designating for Congressional action, on your return, those areas which I believe can and must be reduced. These will be hard choices and every one of you in this Chamber know it as well as I. They will be hard choices, but no Federal agency, including the Defense Department, will be untouchable. It is my judgment that fiscal discipline is a necessary weapon in any fight against inflation. While this spending target is a small step, it is a step in the right direction, and we need to get on that course without any further delay. I do not think that any of us in this Chamber today can ask the American people to tighten their belts if Uncle Sam is unwilling to tighten his belt first. And now, if I might, I would like to say a few words directly to your constituents and, incidentally, mine.