Toward this end, we have four basic objectives tonight.  First, steps we can take this year to keep our economy strong and growing, to give our children a future of low inflation and full employment.  Second, let’s check our progress in attacking social problems, where important gains have been made, but which still need critical attention.  I mean schools that work, economic independence for the poor, restoring respect for family life and family values.  Our third objective tonight is global:  continuing the exciting economic and democratic revolutions we’ve seen around the world.  Fourth and finally, our nation has remained at peace for nearly a decade and a half, as we move toward our goals of world prosperity and world freedom.  We must protect that peace and deter war by making sure the next President inherits what you and I have a moral obligation to give that President:  a national security that is unassailable and a national defense that takes full advantage of new technology and is fully funded.

This is a full agenda.  It’s meant to be.  You see, my thinking on the next year is quite simple:  Let’s make this the best of 8.  And that means it’s all out—­right to the finish line.  I don’t buy the idea that this is the last year of anything, because we’re not talking here tonight about registering temporary gains but ways of making permanent our successes.  And that’s why our focus is the values, the principles, and ideas that made America great.  Let’s be clear on this point.  We’re for limited government, because we understand, as the Founding Fathers did, that it is the best way of ensuring personal liberty and empowering the individual so that every American of every race and region shares fully in the flowering of American prosperity and freedom.

One other thing we Americans like—­the future—­like the sound of it, the idea of it, the hope of it.  Where others fear trade and economic growth, we see opportunities for creating new wealth and undreamed-of opportunities for millions in our own land and beyond.  Where others seek to throw up barriers, we seek to bring them down.  Where others take counsel of their fears, we follow our hopes.  Yes, we Americans like the future and like making the most of it.  Let’s do that now.

And let’s begin by discussing how to maintain economic growth by controlling and eventually eliminating the problem of Federal deficits.  We have had a balanced budget only eight times in the last 57 years.  For the first time in 14 years, the Federal Government spent less in real terms last year than the year before.  We took $73 billion off last year’s deficit compared to the year before.  The deficit itself has moved from 6.3 percent of the gross national product to only 3.4 percent.  And perhaps the most important sign of progress has been the change in our view of deficits.  You know, a few of us can remember when, not too many years ago, those who created the deficits said they would make us prosperous and not to worry about the debt, because we owe it to ourselves.  Well, at last there is agreement that we can’t spend ourselves rich.