ntrepreneurial genius that are the core of human progress. We have
begun to increase the rewards for work, savings, and investment; reduce
the increase in the cost and size of government and its interference in
people's lives.

We must simplify our tax system, make it more fair, and bring the rates
down for all who work and earn. We must think anew and move with a new
boldness, so every American who seeks work can find work; so the least
among us shall have an equal chance to achieve the greatest things--to
be heroes who heal our sick, feed the hungry, protect peace among
nations, and leave this world a better place.

The time has come for a new American emancipation--a great national
drive to tear down economic barriers and liberate the spirit of
enterprise in the most distressed areas of our country. My friends,
together we can do this, and do it we must, so help me God.

From new freedom will spring new opportunities for growth, a more
productive, fulfilled and united people, and a stronger America--an
America that will lead the technological revolution, and also open
its mind and heart and soul to the treasures of literature, music, and
poetry, and the values of faith, courage, and love.

A dynamic economy, with more citizens working and paying taxes, will be
our strongest tool to bring down budget deficits. But an almost unbroken
50 years of deficit spending has finally brought us to a time of
reckoning. We have come to a turning point, a moment for hard decisions.
I have asked the Cabinet and my staff a question, and now I put the same
question to all of you: If not us, who? And if not now, when? It must
be done by all of us going forward with a program aimed at reaching a
balanced budget. We can then begin reducing the national debt.

I will shortly submit a budget to the Congress aimed at freezing
government program spending for the next year. Beyond that, we must
take further steps to permanently control Government's power to tax and
spend. We must act now to protect future generations from Government's
desire to spend its citizens' money and tax them into servitude when
the bills come due. Let us make it unconstitutional for the Federal
Government to spend more than the Federal Government takes in.

We have already started returning to the people and to State and local
governments responsibilities better handled by them. Now, there is a
place for the Federal Government in matters of social compassion. But