economic affliction
DESCRIPTION
Ronald Reagan's inauguration speechTRANSCRIPT
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These United States areconfronted with an
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economicafflictionof great proportions.
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We suffer from the
longestand one of the
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worstsustained inflations
in our nationalhistory.
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It distorts our economic decisions,
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penalizes thrift,
and crushes the
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struggling youngand the
fixed-income elderly alike.
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It threatens to shatter the livesof millions of our people.
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Idle industries havecast workers into
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unemployment,human misery,
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AND personal indignity.
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Those who DO work are denied a fair return
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for their labor by a tax system which
penalizessuccessful achievement and keeps us from maintaining full productivity.
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$But great as our tax burden IS,it has not kept pace with public spending.
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$For decades we have piled
DEFICITUPONDEFICIT,mortgaging our future and our children’s future for the temporaryconvenience of the present.
To continue this long trend is to
GUARENTEEtremendousSOCIAL,CULTURALPOLITICAL,andECONOMICUPHEAVALS.
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SOCIAL,CULTURALPOLITICAL,andECONOMIC
YOU&I,as individuals,CAN, BY BORROWING,live beyond our means,but for only a limited period of time.
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Why, then, should we think thatcollectively, as a nation, we’re not
BOUNDby that same limitation?
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We must act TODAYin order to preserve
TOMORROW.
And let there be no misunderstanding:We are going to begin to act,
BEGINNINGTODAY.
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And let there be no misunderstanding:We are going to begin to act,
BEGINNINGTODAY.
The economic ills we suffer have come upon us over several decades.
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They will not go away indays, weeks, or months,buttheywillgoaway.
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THEYWILLGOAWAYbecause we as Americanshave the capacity now,as we’ve had in the past,
TODOwhatever needs to be DONEto preserve this last and greatest bastion of freedom.
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In this present crisis,
GOVERNMENT is not the solution to our problem;
GOVERNMENT IS the PROBLEM.