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This inflation which threatens the growth, productivity, and stability of our economy requires that we restrain the growth of the budget to the maximum extent consistent with national security and human compassion. I have done so in my earlier budgets, and in my FY '82 budget.
Well, this administration's objective will be a healthy, vigorous, growing economy that provides equal opportunity for all Americans, with no barriers born of bigotry or discrimination. Putting America back to work means putting all Americans back to work. Ending inflation means freeing all Americans from the terror of runaway living costs.
The Asiatic style represents a permanent type of oratorical effort, the desire to use word-painting instead of life-painting, turgidity instead of vigour, allusiveness instead of directness, point instead of wit, frigid inflation instead of real passion. It borrows poetical effects, and heightens the colour without deepening the shade.
And no wonder; his is to lie him down on notion of the attitude for reading, his back; and he has in a jiffy the funnel of the Libraries inserted into his mouth, and he feels the publishers pouring their gallons through it unlimitedly; never crying out, which he can't; only swelling, which he's obliged to do, with a non-nutritious inflation; and that's his intellectual enjoyment; bearing a likeness to the horrible old torture of the baillir d'eau; and he's doomed to perish in the worst book-form of dropsy.
The correct method combines the three adds to the inflation of the central and upper parts of the lungs accomplished by costal breathing, the inflation of the lower part accomplished in diaphragmatic breathing and of the extreme upper part accomplished in clavicular breathing. In other words, the correct method inflates the whole of the lungs and creates a cavity large enough to accommodate them.
It was Byfield's balloon the monster Lunardi in process of inflation. "Confound Byfield!" I ejaculated in my haste. "Who is Byfield?" "An aëronaut, my dear, of bilious humour; which no doubt accounts for his owning a balloon striped alternately with liver-colour and pale blue, and for his arranging it and a brass band in the very line of my escape. That man dogs me like fate." I broke off sharply.
It has tended powerfully to secure an exemption from that inflation and fluctuation of the paper currency so injurious to domestic industry and rendering so uncertain the rewards of labor, and, it is believed, has largely contributed to preserve the whole country from a serious commercial revulsion, such as often occurred under the bank deposit system.
A simpler and cheaper mode of inflation was not only a desideratum, but an absolute necessity.
We who serve here in this Capital must erase that fear by making it absolutely clear that we will not stop fighting inflation; that, together, we will do only those things that will lead to lasting economic growth. Yes, the problems confronting us are large and forbidding.
The single thing the single thing that can start the wheels of industry turning again is further reduction of interest rates. Just another 1 or 2 points can mean tens of thousands of jobs. Right now, with inflation as low as it is, 3.9 percent, there is room for interest rates to come down. Only fear prevents their reduction.
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