Session of congress on generate 28 generate 28. February 28. 8 we look back at the first speeches of president clinton, obama and both president bushes. Members of the congress, i have the highest privilege and the distinct honor of presenting to you the president of the United States. [applause] president reagan thank you very much. [applause] president reagan thank you. [applause] president reagan thank you very much. Mr. Speaker, distinguished members of congress, honored guests and fellow citizens, only a month ago, i was you are guest in this Historic Building and i pledged to you my cooperation in doing what is right for this nation that we all love so much im here tonight to reaffirm that pledge and to ask that we share in restoring the promise that is offered to every citizen by this with the last best hope of man honor. All of us are aware of the punishing inflation which has held a doubledigit figure for two years in a row. All across this land, one can see newly built homes standing bacon, unsold because of mortgage Interest Rates. 8 million americans are out of work. These are people who want to be productive. Not only have Hourly Earnings after adjusted inflation declined 5 of the past five years, but in these five years, federal personal taxes for the average family have increased 67 . We can no longer procrastinate and hope that things will get better. They will not paid unless we act forcefully and now, the economy will get worse. Deny it is somewhat out of control . I would National Debt is approaching 1 trillion. I called such a figure a trillion dollars income principle and dust i calledensible such a figure, 1 trillion, incomprehensible. If you had a stack of thousand dollar bills in your hand four inches high, you would be a millionaire. 1 trillion would be a stack of thousand dollar bills 67 miles high. The interest on the public debt this year will be over 90 million. Change the proposed spending, we were at 80 million to the debt. The rate of increase in productivity is among the lowest of all industrial nations. It has actually declined in the last three years. I have painted a pretty grim picture. I think i have painted it accurately. It is within our power to change this picture and we can act with hope. Theres nothing wrong with our internal strength. Theres been no breakdown of the human technological and natural economy upon which the is built. Based on this confidence in a system which has never failed us what which we have failed three rack of confidence lack of confidence and they believe that and a belief that we can find o our liking. Y twir this plan is aimed at reducing reform andand eliminate regulations which are unnecessary and counterproductive and encouraging a consistent Monetary Policy aimed at maintaining the value of the currency. Full, this program can help america create 13 million new jobs, nearly 3 million more than we would have without these measures. It will also help us to gain control of inflation. It is important to note that we are only reducing the rate of increase in taxing and spending. We are not attempting to cut spending or taxing levels below what we currently have. This will get our economy moving again, productivity growth and create the jobs that are people must have paid im asking that you join me in reducing direct federal spending by 41. 4 billion in fiscal year 1982. [applause] this goes along with another 7. 7 million in user fees and budget savings for a total of 49. 1 billion. I know that exaggerated and inaccurate stories about these cuts have disturbed many people. Particularly those dependent upon grant and benefit programs for their basic needs. Some of you have heard from constituents afraid that Social Security checks would be taken away from them. I regret the fear that these stories have caused, and i take this opportunity to set things straight. We will continue to fulfill the obligations that spring from our national conscience. Those who, through no fault of their own, must depend on the rest of us, all those with true need can rest assured that the social safety net of programs they depend on are exempt from any cuts. The full Retirement Benefits to Social Security recipients will be continued, along with an annual costofliving increase. Medicare will not be cut, nor will supplemental income for the blind, the aged, and the disabled. And funding will continue for veterans pensions. School breakfast and lunches for the children of low income families will continue, as will nutrition for other special services. There will be no cut in summer youth jobs. All in all, nearly 216 billion worth of programs providing help for tens of millions of americans will be fully funded, but government will not continue to subsidize individuals or particular business interest where real need cannot be demonstrated. I am sure there is one department you have been waiting for me to mention, the department of defense. It is the only department in our entire program that will actually be increased over the present budgeted figure. [applause] pres. Reagan but even here, there was no exception. The department of defense came up with a number of cuts which reduced the budget increase needed to reduce our military balance. These measures will save 2. 9 billion in 1982 outlays, and by 1986, a total of 28. 2 billion will be saved, or, perhaps i should say, will be made available for the things we must do. The aim will be to provide the most effective defense for the lowest cost. I believe my duty as president requires that i recommended increases in defense spending over the coming years. [applause] pres. Reagan i know that you are all aware, but i think it bears saying again that the soviet union has invested 3 00 billion more in its military forces then we have. As a result, the soviets have made a significant numerical advantage in Strategic Nuclear delivery systems, tactical aircraft, submarines, artillery, and antiaircraft defense. To allow this to continue is a threat to our national security. Notwithstanding our economic strength, making the changes now is far less costly than waiting and having to do a Crash Program several years from now. We remain committed to the goal of arms limitation through negotiation. I hope we can persuade our adversaries to come to a realistic balance and verifiable agreements. [applause] pres. Reagan but, as we negotiate, our security must be fully negotiated by a balanced and realistic defense program. Let me say a word about the general problem of waste and fraud in the federal government. One estimate indicated that fraud alone may indicate anywhere from 1 to 10 for social programs. If the tax dollars that are wasted or mismanaged are added to this total, the staggering dimensions of this problem begin to emerge. The office of management and budget is now putting together an interagency tax force to attack waste and fraud. We are also planning to appoint as inspectors general highly trained professionals who will spend no effort to do this job. No administration can promise to really stop a trend that has grown. Let me say this, waste and fraud in the federal government is exactly what i have called it before, an unrelenting national scandal, a scandal we are bound and determined to do something about. [applause] pres. Reagan marching in lockstep with the whole program of reduction in spending is the equally Important Program of reduced tax rates. Both are essential if we are to have economic recovery. It is time to create jobs and gave the American People room to do what they do best, and that can only be done with a tax program that provides incentive to increase productivity for both workers and industry. Our proposal is for a 10 cut across the board for three years , every year, for all income taxpayers, making a total cut in tax rates of 30 . This threeyear reduction will also like to the tax on unearned income, leading to an eventual elimination of the differential between the tax on earned and unearned income. I would hope that we can be retroactive with this, but as it stands, the effective starting date for these 10 reductions we will call for july 1 of this year. Again, let me remind you that 30 reduction will leave the taxpayers with 500 billion more in their pockets over the next five years, but it is actually a reduction in the tax increase already built into the system. Unlike some past tax reforms, this is not merely a shift in wealth from different taxpayers. This proposal of an equal reduction of everyones tax rates will expand our prosperity and increase opportunities for all americans. Some will argue that i know that reducing tax rates now will be inflationary. A solid body of Economic Experts does not agree. And tax cuts adopted over the past 3 4 of a century indicate these Economic Experts are right they will not be inflationary. I had a device that in 1980 our real production in goods and services will grow by 20 and the 300 billion higher than it is today. The average workers wage will rise in real purchasing power 8 , and this is in aftertax dollars, and this is predicated on a program of cuts implemented. The other part of the tax package is aimed at providing business and industry with the capital needed to modernize and engage in development. This will involve an increase in depreciation allowances, and this part of our tax proposal will be retroactive to january 1. The present depreciation system is obsolete, needlessly complex, and economically counterproductive. Very simply, it bases the depreciation on their original cost with no recognition of how reflation has increased their replacement cost. We are proposing a must shorter write off time than is presently allowed. In fiscal year 1982, businesses will acquire nearly 10 billion for investment. By 1985, the figure will be nearly 45 billion. These changes are essential to provide the new between now and investment needed to create millions of new jobs between now and 1985. And to make america competitive once again in the world market. [applause] pres. Reagan these will not be makework jobs. They are productive jobs, jobs with a future. I am well aware that there are other needed tax changes, such as indexing the income tax brackets to protect taxpayers against inflation, the unjust discrimination against married couples if both are working, tuition tax credits, the unfairness of the inheritance tax, and a number of others. But our program for economic recovery is so urgently needed to bring down inflation that i am asking you to act on this with greater urgency, and then i pledge i will join you in seeking these additional tax changes at the earliest date possible. [applause] pres. Reagan American Society experienced a virtual explosion in government regulation during the past decade. Between 1977 and 1979, expenditures for the regulatory agencies properly billed. Nearly tripled. The number of pages in the code of federal regulations increased by two thirds. The result has been higher prices, higher unemployment, and low productivity growth. Over regulation causes small businessmen and women, as well as large businesses, to defer plans for expansion. Since they are responsible for most of the new jobs, those jobs are just not created. We have no intention of dismantling regulatory agencies, especially those to ensure protection of the environment. And ensure Public Health and safety. However, we must come to grips with an efficient and in efficient and burdensome regulations, eliminate those we can, and reform the others. I have asked Vice President bush to head a task force on regulatory relief. Secondly, i asked my cabinet to postpone regulations which is not yet been implemented. Third, in coordination with the task force, many agencies have already taken prompt action to review and resend burdensome regulations. Finally, just yesterday, i signed an executive order that for the first time provides for effective and coordinated management for the processes. Much as been accomplished. But it is only the beginning. We will eliminate those regulations that are unproductive and unnecessary by executive order where possible, and cooperate fully with you on those that require legislation. The final aspect of our plan requires a national Monetary Policy that does not allow money growth to increase consistently faster than the growth of goods and services. In order to curb inflation, we need to slow the growth in our money supply. We fully recognize the independence of the Federal Reserve system and will do nothing to undermine that. We will consult with the Federal Reserve board on all aspects of our economic program, and will vigorously pursue budget policy that will make their job easier in reducing monetary growth. A Successful Program to achieve stable and moderate growth patterns in the money supply will keep both Interest Rates and inflation down and restore vigor to our Financial Institutions and markets. This is our proposal, americas new beginning, a program for economic recovery. I dont want it to be simply the plan of my administration. I am here tonight to ask you to join me in making our plan. Together, we can embark on this. [applause] pres. Reagan thank you very much. [applause] pres. Reagan i should have arranged to quit right there. [laughter] [applause] pres. Reagan well, together we can embark on this road not to make things easy, but to make things better. Our social, political, and cultural, as well as our economic institutions can no longer absorb the repeated shocks that have been dealt them over the past decades. Can we do the job . The answer is yes, but we must begin now. We are in control. There is nothing wrong with america that together we cant fix. Im sure there will be cries of dont touch my program. Cut somewhere else. I hope i have made it plain that our approach is evenhanded, and only the programs for the truly deserving and needy are untouched. The question is, will we get on the same path we have gone out before, carving out one special program here or there . I dont think that is what the American People expect, more important, i dont think thats what they want. They are ready to return to the source of our strength. The substance and prosperity of our nation is built by the wages brought home from the factories, and the mills, the farms, and the shops. They are the Services Provided in 10,000 corners of america. The interest on the thrift of our people, and the returns for their risktaking. The production of america is the possession of those who build, serve, create, and produce. For too long, we have removed from our people the decisions on how to dispose of what they have created. We have strayed from first principles. We must alter our course. The taxing power of government must be used to provide revenues for legitimate government purposes. It must not be used to regulate the economy or bring about social change. [applause] pres. Reagan we tried that, and surely we must be able to see it does not work. Spending by government must be limited to those functions which are the proper province of government. We can no longer afford things simply because we think of them. Next year, we can reduce the budget by 41. 4 billion without harm to governments legitimate purposes, or to our responsibility to all who need our benevolence. This reduction in tax rates will help bring an end to inflation. In the help and Services Area health and social Services Area alone, the plan we are proposing will reduce the need for 465 pages of law, 1400 pages of regulations, 5000 federal employees who presently administer 7600 separate grants in about 25,000 separate locations. [applause] pres. Reagan over 7 million men and women hours at work are required to fill out government forms. I would direct the question to those who have indicated already an unwillingness to accept such a plan. Have they an alternative which offers a greater chance of balancing the budget, stimulating the creation of jobs, and reducing the tax burden . And if they have not, are they suggesting that we can continue on the present course without coming to a day of reckoning . [applause] pres. Reagan if we dont do this, inflation and the growing tax burden will put in end to end to everything we believe in and our dreams to the future. We dont have an option of living with inflation. Millions of productive people willing and able to work, but unable to find a buyer for their work in the job market. We have alternative, and that is the program for economic recovery. True, it will take time, but the favorable effects to be felt, so we must begin now. The people are watching and waiting. They dont demand miracles. They do expect us to act. Let us act together. Thank you. [applause] announcer you are watching this special Program Featuring the first speeches to congress by new president s. Donald trump delivers his first address to a joint session on tuesday, february 28. Up next, portions from a speech by president george h. W. Bush from february 9, 1989, just a few weeks after his inauguration. Ladies and gentlemen, i have the high honor and distinct privilege to present the president of the United States. [applause] pres. H. W. Bush speaker, this distinguished members of the house and senate, honored guests and fellow citizens, less than three weeks ago i joined you on the west front of this very building. Looking over the monuments of our proud past. I offered you my hand in filling the next page of American History with a story of extended prosperity and continued peace. And tonight, i am back to offer you my plans as well. The hand remains extended. The sleeves are rolled up. America has been waiting, and now, we must produce. Together, we can build a better america. It is comforting to return to this historic chamber. Here, 22 years ago, i first raised my hand to be sworn into public life. So, tonight, i feel as if i am returning home to friends. And i intended [applause] pres. H. W. Bush and i intend in the months and years to come to give you what friends deserve, frankness, respect, and my best judgme