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Updated: June 23, 2025
Our economic revolution has been matched by a revival of the American spirit: Crime down by 20 percent, to its lowest level in 25 years. Teen births down seven years in a row and adoptions up by 30 percent. Welfare rolls cut in half to their lowest levels in 30 years. My fellow Americans, the state of our union is the strongest it has ever been.
We must also recognize that our own economic well-being is inextricably linked to the world economy. We export over 20 percent of our industrial production, and 40 percent of our farmland produces for export.
Common sense tells me to stick to that steady course. Take the state of our economy. Last January, most things were rapidly getting worse. This January, most things are slowly but surely getting better. The worst recession since World War II turned around in April. The best cost-of-living news of the past year is that double-digit inflation of 12 percent or higher was cut almost in half.
"I said just now I didn't want a fur overcoat nor an automobile, and that's eighty percent true. And yet, there's a crawly little snob inside me that's in a panic right now because I haven't got proper clothes to wear and because I'm going to have to sit down in front of a lot of funny shaped forks that I don't know the special uses of. "Oh, there's more to it than that of course.
It is the secret mental attitude of perhaps ninety percent of those Caucasians who believe in a God of any kind. Their root-conviction is that if God would only let them alone they would get along well enough; but as a terrible avenging spirit, like the Fury or the Nemesis of the ancients, he is always tracking them down.
At present, less than nine percent of the American foreign commerce is carried in American bottoms, a situation which is not only sufficiently humiliating to a people who but a short while ago hoped to dominate the carrying trade of all countries but also, what perhaps hurts the Americans almost as much as the injury to their pride, absurdly wasteful and unbusinesslike.
Last fall, for example, 91 percent of the Indian children between the ages of 6 and 18 on reservations were enrolled in school. This is a rise of 12 percent since 1953. In the field of science and technology, startling strides have been made by the new National Aeronautics and Space Administration.
There must soon be a revision of them, because to leave them as they are means to incur liability of business disaster. Since your body adjourned there has been a fluctuation in the interest on call money from 2 per cent to 30 percent, and the fluctuation was even greater during the preceding six months.
To hold down the cost of living, we must hold down the cost of government. In the past decade, the Federal budget has been growing at an average rate of over 10 percent a year. The budget I am submitting Wednesday cuts this rate of growth in half. I have kept my promise to submit a budget for the next fiscal year of $395 billion. In fact, it is $394.2 billion.
We know right now that police who work the streets, know the folks, have the respect of the neighborhood kids, focus on high crime areas, we know that they are more likely to prevent crime as well as catch criminals. Look at the experience of Houston, where the crime rate dropped 17 percent in one year when that approach was taken.
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