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Updated: June 29, 2025
We cannot rely solely on strategic forces to guarantee our security or to deter all types of aggression. We must have superior naval and marine forces to maintain freedom of the seas, strong multipurpose tactical air forces, and mobile, modern ground forces. Accordingly, I have directed a long-term effort to improve our worldwide capabilities to deal with regional crises.
For the past several years, this program has consisted largely of payments to farmers for application of fertilizer and other approved soil management practices. I am convinced that farmers generally are now fully alert to the benefits, both immediate and long-term, which they derive from the practices encouraged by this program.
Thirty states across the nation have established America 2000 programs. Hundreds of cities and towns have joined. Now Congress must join this great movement. Pass my proposals for new American schools. That was my second long-term proposal. And here's my third: We must make common-sense investments that will help us compete, long-term, in the marketplace.
While emphasizing the need for continued fiscal restraint, this budget takes the first major step in a long-term tax reduction program designed to increase capital formation. The failure of our Nation's capital stock to grow at a rate that keeps pace with its labor force has clearly been one cause of our productivity slowdown.
The Turk, on the other hand, less deterred by considerations of long-term expediency, and, it may be, less easily influenced by outside opinion on any point of humanity, has found a remedy in the systematic extirpation of any village in which an illicit death occurs.
We can no longer afford to oscillate from year to year in so vital a matter; indeed, we have a duty to look beyond the immediate question of budgets and to examine the nature of the problem we will face over the next generation. I am the first recent President able to address long-term, basic issues without the burden of Vietnam.
And whether the projected peace compact at its inception takes one form or another, provided it succeeds in its main purpose, the long-term drift of things under its rule should logically set toward some ulterior settlement of the general character of what has here been spoken of as a peace by neglect or by neutralisation of discrepancies.
An entrepreneur is a person who is gifted at identifying the unsatisfied needs of a market, at mobilizing and organizing the resources required to satisfy those needs and at defining a long-term strategy of development and marketing. As the enterprise grows, two processes combine to denude the entrepreneur of some of his initial functions.
It is necessarily the teacher and leader of those who serve temporarily in the discharge of the obligation to help defend the Republic. Pay alone will not retain in the career service of our armed forces the necessary numbers of long-term personnel. I strongly urge, therefore, a more generous use of other benefits important to service morale.
The paralysis has been further augmented by the steady increase in recent years of the proportion of bank assets invested in long-term securities, such as mortgages and bonds.
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