It’s time to move forward again, time for America to take freedom’s next step.  Let us unite tonight behind four great goals to keep America free, secure, and at peace in the eighties together.

We can ensure steady economic growth.  We can develop America’s next frontier.  We can strengthen our traditional values.  And we can build a meaningful peace to protect our loved ones and this shining star of faith that has guided millions from tyranny to the safe harbor of freedom, progress, and hope.

Doing these things will open wider the gates of opportunity, provide greater security for all, with no barriers of bigotry or discrimination.

The key to a dynamic decade is vigorous economic growth, our first great goal.  We might well begin with common sense in Federal budgeting:  government spending no more than government takes in.

We must bring Federal deficits down.  But how we do that makes all the difference.

We can begin by limiting the size and scope of government.  Under the leadership of Vice President Bush, we have reduced the growth of Federal regulations by more than 25 percent and cut well over 300 million hours of government-required paperwork each year.  This will save the public more than $150 billion over the next 10 years.

The Grace commission has given us some 2,500 recommendations for reducing wasteful spending, and they’re being examined throughout the administration.  Federal spending growth has been cut from 17.4 percent in 1980 to less than half of that today, and we have already achieved over $300 billion in budget savings for the period of 1982 to ’86.  But that’s only a little more than half of what we sought.  Government is still spending too large a percentage of the total economy.

Now, some insist that any further budget savings must be obtained by reducing the portion spent on defense.  This ignores the fact that national defense is solely the responsibility of the Federal Government; indeed, it is its prime responsibility.  And yet defense spending is less than a third of the total budget.  During the years of President Kennedy and of the years before that, defense was almost half the total budget.  And then came several years in which our military capability was allowed to deteriorate to a very dangerous degree.  We are just now restoring, through the essential modernization of our conventional and strategic forces, our capability to meet our present and future security needs.  We dare not shirk our responsibility to keep America free, secure, and at peace.

The last decade saw domestic spending surge literally out of control.  But the basis for such spending had been laid in previous years.  A pattern of overspending has been in place for half a century.  As the national debt grew, we were told not to worry, that we owed it to ourselves.