A resurgent American economy would do more to restore the confidence of the world in its own future than anything else we can do.  The program that this Congress passes can demonstrate to the world that we have started to put our own house in order.  If we can show that this Nation is able and willing to help other nations meet the common challenge, it can demonstrate that the United States will fulfill its responsibilities as a leader among nations.

Quite frankly, at stake is the future of industrialized democracies, which have perceived their destiny in common and sustained it in common for 30 years.

The developing nations are also at a turning point.  The poorest nations see their hopes of feeding their hungry and developing their societies shattered by the economic crisis.  The long-term economic future for the producers of raw materials also depends on cooperative solutions.

Our relations with the Communist countries are a basic factor of the world environment.  We must seek to build a long-term basis for coexistence.  We will stand by our principles.  We will stand by our interests.  We will act firmly when challenged.  The kind of a world we want depends on a broad policy of creating mutual incentives for restraint and for cooperation.

As we move forward to meet our global challenges and opportunities, we must have the tools to do the job.

Our military forces are strong and ready.  This military strength deters aggression against our allies, stabilizes our relations with former adversaries, and protects our homeland.  Fully adequate conventional and strategic forces cost many, many billions, but these dollars are sound insurance for our safety and for a more peaceful world.

Military strength alone is not sufficient.  Effective diplomacy is also essential in preventing conflict, in building world understanding.  The Vladivostok negotiations with the Soviet Union represent a major step in moderating strategic arms competition.  My recent discussions with the leaders of the Atlantic community, Japan, and South Korea have contributed to meeting the common challenge.

But we have serious problems before us that require cooperation between the President and the Congress.  By the Constitution and tradition, the execution of foreign policy is the responsibility of the President.

In recent years, under the stress of the Vietnam war, legislative restrictions on the President’s ability to execute foreign policy and military decisions have proliferated.  As a Member of the Congress, I opposed some and I approved others.  As President, I welcome the advice and cooperation of the House and the Senate.

But if our foreign policy is to be successful, we cannot rigidly restrict in legislation the ability of the President to act.  The conduct of negotiations is ill-suited to such limitations.  Legislative restrictions, intended for the best motives and purposes, can have the opposite result, as we have seen most recently in our trade relations with the Soviet Union.