On monday, President Trump will give a speech on the u. S. Economy. Live coverage begins at 3 00 eastern on cspan. An effort to rescue american hostages in iran failed. Cubans emigrated to the u. S. The Winter Olympics were held in lake placid, new york. Mount saint helens erupted. This was the backdrop for the speeches made by president ial nominees Ronald Reagan and jimmy carter. By the time Ronald Reagan ran for president , he had served two terms as governor of california. He had an early career in entertainment and became president of the screen actors. Ronald reagan ended his nomination acceptance speech at the Republican National convention in detroit with a moment of silent prayer. Thank you very much thank you very much. Thank you. You are singing our song. [applause] for the first [indiscernible] the firstd myself for time in a long time in a movie on primetime. [laughter] you can imagine, is the second big thrill. Mr. Chairman, mr. Vice president to be, this convention, my fellow citizens of this great nation, with a deep awareness of the responsibility conferred by your trust, i accept your nomination for the presidency of the United States. [applause] i do so with a deep sense of gratitude. Our thanks to the people of detroit and michigan. [applause] and i thank you for your wholehearted response to my recommendations with regard to george bush, the candidate for Vice President. [applause] i am very proud of our party tonight. This convention has shown to all america a party united with positive programs for solving the nations problems. A party ready to build a new consensus with all of those across the land who share a community of values embodied in these words, family, work, neighborhood, peace, and freedom. [applause] i know we have had a quarrel or two, but only to the method of attaining a goal. There was no argument here about the goal. As president , i will establish and liaison with 50 governors to encourage them to eliminate wherever it exists discrimination against women. [applause] i will monitor federal laws to ensure their implementation and to add statutes if needed. More than anything else, i want my candidacy to unify the country, renew the american spirit and sense of privilege. Sense of purpose. I want to carry our message to every american regardless of party affiliation. Never before in our history have americans been called upon to face 3 grave threats to our existence. Any one of which could destroy us. We face a disintegrating economy, a weakened defense, and an Energy Policy based on the sharing of scarcity. The major issue of this campaign is a direct political, personal and moral responsibility of Democratic Party leadership in the white house and in the congress for this unprecedented calamity which has befallen us. [applause] they tell us they have done the most that could humanly be done. They say the United States has had its day in the sun, but our that our nations past it its zenith. They expect you to tell your children that the American People no longer have the will to cope with their problems, the future will be one of sacrifice and few opportunities. My fellow citizens, i utterly reject that view. [applause] the American People, the most generous on earth, who created the highest standard of living, are not going to accept the notion that we can only make a better world for others by moving backward ourselves. And those who believe we can have no business leading this nation. [applause] [air horns] i will not stand by and watch this great country destroy itself under mediocre leadership that drifts from one crisis to the next, eroding our national will and purpose. We have come together here because the American People deserve better from those to whom they entrust our nations highest offices. We stand united. [applause] we stand united in our resolve to do something about it. We need a rebirth of the american tradition of leadership at every level of government, and in private life as well. The United States of america is unique in World History because it has a genius for leaders. Many leaders on many levels. But back in 1976, mr. Carter said trust me. And a lot of people did. Now, many of those people are out of work. Many have seen their savings eaten away by inflation, many others on fixed incomes, especially the elderly, have watched helplessly as the tax of inflation wated a wasted away their purchasing power. Today, a great many who trusted mr. Carter wonder if we can survive the carter policies of national defense. Trust me Government Asks we concentrate our hopes and dreams on one man. That we trust him to do what is best for us. My view of government places trust not in one person or one party, but in those values that transcend persons and parties. [applause] trust is where it belongs, in the people. The responsibility to live up to that trust is where it belongs, in their elected leaders. That kind of relationship between the people and their elected leaders is a special kind of compact. 360 years ago, in 1620, a group of families dared to cross a mighty ocean to build for build a future for themselves in a new world. When they arrived in massachusetts, they formed a compact, an agreement amongst themselves to build a community and abide by its laws. This single act, the voluntary binding together of free people to live under the law, set the pattern for what was to come. A century and a half later, the descendents of those people pledged their lives, fortunes, and honor to found this nation. Some forfeited their fortunes and their lives. None sacrificed honor. [applause] four score and seven years later, Abraham Lincoln called upon the people of america to renew their dedication to a government of, for, and by the people. Isnt it once again time to renew our compact of freedom . [applause] to pledge to each other all that gives meaning to them for the sake of this, our beloved and blessed land. Together, let us make this a new beginning. Let us make a commitment to care for the needy, teach our children the virtues handed down to us by our families, to have the courage to defend those values and virtues of the and the willingness to sacrifice for them. Lets pledge to restore in our time the american spirit of voluntary service, cooperation, private and community initiative, a spirit that flows like a deep and mighty river through the history of our nation. As your nominee, i pledge to you to restore to the federal government the capacity to do the peoples work without dominating their lives. I pledge to you [applause] i pledge to you a government that will not only work well, but wisely. Its ability to act tempered by prudence and its willingness to do good balanced by the knowledge that government is never more dangerous than when our desire to have it help us blinds us to its great power to harm us. [applause] the first republican president once said, while the people retain their virtue and their vigilance, no administration by any extreme of wickedness or folly can seriously injure the government in the short space of four years. If mr. Lincoln could see what has happened in the last 3 1 2 years, he might hedge a little on that statement. [applause] the virtues are our legacy as a free people. With a vigilance that sustains liberty, we have time to use our renewed compact to overcome the injuries that have been done to america these past three and a half years. First, we must overcome something the present administration has cooked up, a new and altogether indigestible economic stew. One part inflation, one part high unemployment, one part for recession, one part runaway taxes, one part deficit spending, seasoned with an energy crisis. It is an economic stew that has turned the national stomach. [applause] ours are not problems of abstract economic theory, these are problems of flesh and blood. Problems that cause pain and destroy the moral fiber of real people who should not suffer the further indignity of being told by the government that it is all somehow their fault. We do not have inflation because, as mr. Carter says, we have lived too well. The head of a government which has utterly refused to live within its means, and has in the last few days turned showed us that this coming years deficit will be 60 billion, dares to point the finger of blame at business and labor, both of which have been engaged in a losing struggle trying to stay even. [applause] our taxes, we are told, are somehow good for us. As if when government spends our money, it is not inflationary. But when we spend it, it is. [applause] preside over the worst Energy Shortage in our history tell us to use less so we dont run out of oil, gas a little gas, and natural gas a littl emore little mroe more slowly. Conservation is desirable of course, but conservation is not the sole answer to our energy needs. America must get to work producing more energy. [applause] the Republican Program will solve the economic problems is based on growth and productivity. Large amounts of oil and natural gas lay beneath our land and off our shores, untouched because the present administration seems to believe the American People would rather see more regulation, taxes and controls than more energy. Coal offers a great potential. So does Nuclear Energy produced under rigorous safety standards. [applause] we could supply electricity to thousands of industry and millions of jobs and homes. It must not be thwarted by a minority opposed to Economic Growth, which often finds friendly ears in regulatory agencies for obstructionist campaigns. [applause] now, make no mistake, we will not permit the safety of our people or our environmental heritage to be jeopardized. But, we are going to reaffirm that the Economic Prosperity of our people is a fundamental part of our environment. [applause] our problems our problems are both acute and chronic, yet all we hear from those in positions of leadership are the same tired proposals for more government bickering, more meddling and control. All of which led us to the this sorry state in the first place. Can anyone look at the record of this administration and say, well done . No. Can anyone compare the state of our economy when the Carter Administration took office with where it is today and say keep up the good work . No can anyone look at reduced standing in the world today and say lets have four more years of this . No i believe the American People are going to answer these questions as you have answered them in the first week in november, and their answer will be no, we have had enough. [applause] and then it will be up to us, beginning next january 20, offer to offer an administration and congressional leadership of competence and more than a little courage. We must have the clarity of vision to see the difference between what is essential and what is merely desirable and then the courage to win our Government Back under control. [applause] it is essential. [applause] it is essential that we maintain both the Forward Momentum of Economic Growth and the strength of the safety net between those in our society who need help. We also believe it is essential that the integrity of all aspects of Social Security be preserved. [applause] beyond these essentials, i believe it is clear our federal government is overgrown and overweight. Indeed, it is time our government go on a diet. [applause] therefore, my first act as chief executive will be to impose an immediate and thorough freeze on federal hiring. [applause] then, we are going to enlist the best minds from business, labor and whatever. Whatever quarter to conduct a detailed review of every department that lives by federal appropriations. [applause] and, we are going to enlist the help and ideas of many dedicated and hardworking Government Employees at all levels who want a more Efficient Government just as much as the rest of us to. Us do. [applause] i know that many of them are demoralized by the confusion and waste they confronted in their work as a result of failing and failed policies. Our inspections through the group we enlist will be direct. We will remind them that Government Programs exist at the sufferance of the american taxpayer and are paid for by money earned by working men and women and programs that represent a waste of their money money, theft from their pocketbooks, must have that waste eliminated or that program must go. [applause] it must go, by executive order, where possible, by congressional action where necessary. Everything that can be run more effectively by state and local government, we shall turn over to state and local government. [applause] along with the funding to pay for it. We are going to put an end to the money merrygoround where our money becomes washingtons money to be spent by states and cities exactly the way federal bureaucrats tell us it has to be spent. [applause] i will not accept the excuse that the federal government has grown so big and powerful it is beyond the control of any president , administration or congress. We are going to put an end to the notion that the american taxpayer exists to fund the federal government. The federal government exists to serve the American People. [applause] on january 20, we are going to reestablish that truth. Also on that date, we are going to initiate actions to get substantial relief for our taxpaying citizens and actions to put people back to work. [applause] none of this, none of this will be based on any new form of monetary tinkering or fiscal sleightofhand. We will simply apply to government the common sense we all use in our daily lives. [applause] work and family are the center of our lives, the foundation of our dignity as a free people. When we deprive people of what they have earned or take their jobs, we destroy their dignity and undermine their families. We cant support families unless there are jobs and we cant have jobs unless the people have both money to invest and the faith to invest. [applause] these are concepts that stem from an Economic System that for more than 200 years has helped us master a continent, create a previously undreamed of prosperity for our people, and fed millions around the globe. That system will continue to serve us in our future if our government will stop ignoring the basic values on which it was built and stop betraying the trust and goodwill of the American Workers who keep it going. [applause] the American People are carrying the heaviest peacetime tax burden in our nations history and it will grow heavier under present law next january. We are taxing ourselves into economic exhaustion and stagnation, crushing our ability and incentive to save. This must stop. We must halt this fiscal selfdestruction and restore sanity. I have long advocated a 30 reduction in income tax rates over a period of three years. [applause] this Tax Deduction [applause] this tax reduction would begin with a 10 down payment tax cut in 1981, which the republicans in congress and i have already proposed. A phased reduction of tax rates would go a long way to eat easing the heavy burden on but werican people, shouldnt stop there. Whatever the context of economic ambitions and appropriate budget priorities, during each fiscal year of my presidency come i presidency, i would strive to go further. This would include improvement in business depreciation taxes so we can stimulate investments. [applause] put more americans back to work and put our nation bakck on the road to being competitive in world congress. We will also work our Gross National product. The first task of National Leadership is to set realistic and honest priorities, and i pledge my administration will do it. When i talk tax cuts, every major tax cut in this century has created new investment, new jobs, and more commerce among our people. [applause] the present administration has been forced to play follow the leader with regards to a tax cut, but we must take with a cutn of salt any tax proposed by those who have given increase inest tax our nations history. When those in leadership give us tax increases and tell us we must do with less, have they thought about those who have always had less . Especially the minorities. Them justke telling as they step on the first rung of the ladder of opportunity, the ladder is being pulled out from under them. That may be the democratic leaderships message to minorities, but it wont be ours. [applause] ours will be, we have to move ahead, but we are not going to leave anyone behind. [applause] thanks to the economic policies of the Democratic Party, millions of americans find themselves out of work. Millions more have never had a fair chance to learn new skills, hold a decent job, or secure for themselves and families a share in the prosperity of this nation. It is time to put america back to work. To make our cities and towns resound with confident voices of men and women of all races, nationalities, and faiths. Bringing home to their families a paycheck they can cash for honest money. [applause] for those without skills, we will find a way to help them get new skills. For those without job opportunities, we will stimulate new opportunities particularly in the inner cities. For those who have abandoned hope, we will restore hope and welcome them into a National Crusade to make America Great again. [applause] when we move from Domestic Affairs and cast our eyes abroad, we see an equa