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Updated: June 28, 2025
You and I have had some honest and open differences in the year past. But they didn't keep us from joining hands in bipartisan cooperation to stop a long decline that had drained this nation's spirit and eroded its health. There is renewed energy and optimism throughout the land. America is back, standing tall, looking to the eighties with courage, confidence, and hope.
America is again a vigorous leader of the free world, a nation that acts decisively and firmly in the furtherance of her principles and vital interests. No legacy would make me more proud than leaving in place a bipartisan consensus for the cause of world freedom, a consensus that prevents a paralysis of American power from ever occurring again.
But one moment of courage, idealism, and bipartisan unity can change American history forever. Sound monetary policy is key to long-running economic strength and stability. We will continue to cooperate with the Federal Reserve Board, seeking a steady policy that ensures price stability without keeping interest rates artificially high or needlessly holding down growth.
Like every taxpayer, I'm outraged by the reports of abuses by the IRS. We need some changes there: new citizen advocacy panels, a stronger taxpayer advocate, phone lines open 24 hours a day, relief for innocent taxpayers. Last year, by an overwhelming bipartisan margin, the House of Representatives passed sweeping IRS reforms. This bill must not now languish in the Senate.
I applaud the bipartisan support this Congress provided last year for our initiatives to help Russia, Ukraine and the other states through their epic transformations. Our support of reform must combine patience for the enormity of the task and vigilance for our fundamental interest and values.
And tonight, I am instructing Treasury Secretary James Baker I have to get used to saying that to begin working with congressional authors and committees for bipartisan legislation conforming to these principles. We will call upon the American people for support and upon every man and woman in this Chamber.
This Christmas, Hillary and I traveled to Sarajevo with Senator and Mrs. Dole and a bipartisan congressional delegation. We saw children playing in the streets where, two years ago, they were hiding from snipers and shells. The shops were filled with food. The cafes were alive with conversation. The progress there is unmistakable; but it is not yet irreversible.
Here, in this place, our responsibility begins with balancing the budget in a way that is fair to all Americans. There is now broad bipartisan agreement that permanent deficit spending must come to an end. I compliment the Republican leadership and the membership for the energy and determination you have brought to this task of balancing the budget.
He also reminded us that "the future lies with those wise political leaders who realize that the great public is interested more in Government than in politics." So, let us, in these next 2 years men and women of both parties, every political shade concentrate on the long-range, bipartisan responsibilities of government, not the short-range or short-term temptations of partisan politics.
But one moment of courage, idealism, and bipartisan unity can change American history forever. Sound monetary policy is key to long-running economic strength and stability. We will continue to cooperate with the Federal Reserve Board, seeking a steady policy that ensures price stability without keeping interest rates artificially high or needlessly holding down growth.
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