We will continue to meet the needs of our people by continuing to develop the Great Society.
Last year alone the wealth that we produced increased $47 billion, and it will soar again this year to a total over $720 billion.
Because our economic policies have produced rising revenues, if you approve every program that I recommend tonight, our total budget deficit will be one of the lowest in many years. It will be only $1.8 billion next year. Total spending in the administrative budget will be $112.8 billion. Revenues next year will be $111 billion.
On a cash basis—which is the way that you and I keep our family budget—the Federal budget next year will actually show a surplus. That is to say, if we include all the money that your Government will take in and all the money that your Government will spend, your Government next year will collect one-half billion dollars more than it will spend in the year 1967.
I have not come here tonight to ask for pleasant luxuries or for idle pleasures. I have come here to recommend that you, the representatives of the richest Nation on earth, you, the elected servants of a people who live in abundance unmatched on this globe, you bring the most urgent decencies of life to all of your fellow Americans.
There are men who cry out: We must sacrifice. Well, let us rather ask them: Who will they sacrifice? Are they going to sacrifice the children who seek the learning, or the sick who need medical care, or the families who dwell in squalor now brightened by the hope of home? Will they sacrifice opportunity for the distressed, the beauty of our land, the hope of our poor?
Time may require further sacrifices. And if it does, then we will make them.
But we will not heed those who wring it from the hopes of the unfortunate here in a land of plenty.
I believe that we can continue the Great Society while we fight in Vietnam. But if there are some who do not believe this, then, in the name of justice, let them call for the contribution of those who live in the fullness of our blessing, rather than try to strip it from the hands of those that are most in need.
And let no one think that the unfortunate and the oppressed of this land sit stifled and alone in their hope tonight. Hundreds of their servants and their protectors sit before me tonight here in this great Chamber. III.
The Great Society leads us along three roads—growth and justice and liberation.
I can report to you tonight what you have seen for yourselves already—in every city and countryside. This Nation is flourishing.
Workers are making more money than ever—with after-tax income in the past 5 years up 33 percent; in the last year alone, up 8 percent.
More people are working than ever before in our history—an increase last year of 2 1/2 million jobs.
Corporations have greater after-tax earnings than ever in history. For the past 5 years those earnings have been up over 65 percent, and last year alone they had a rise of 20 percent.