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Updated: September 18, 2025
My Administration began the implementation of most of the ideas produced last year by that citizen's advisory body; others need to be addressed. I have proposed the reconvening of the Conference next year to review progress; reassess priorities; and set new goals.
There could be no more misguided set of priorities than one which would tempt others by weakening America, and thereby endanger the peace of the world. In our foreign policy, we have entered a new era.
The multilateral trade negotiations are now reaching a successful conclusion, and congressional approval is essential to the economic well-being of our own country and of the world. This will be one of our top priorities in 1979. We are entering a hopeful era in our relations with one-fourth of the world's people who live in China.
Third, to continue export control authority and to provide adequate machinery for its enforcement. Fourth, to continue the priorities and allocation authority in the field of transportation. Fifth, to authorize priorities and allocations for key materials in short supply. Sixth, to extend and strengthen rent control.
My plan to balance the budget next year includes both new investments and new tax cuts targeted to the needs of working families: for education, for child care, for the environment. But whether the issue is tax cuts or spending, I ask all of you to meet this test: approve only those priorities that can actually be accomplished without adding a dime to the deficit.
And whatever our views of its cause, we can agree that children at risk are not at fault. Abandonment and abuse are not acts of God, they are failures of love. And the proliferation of prisons, however necessary, is no substitute for hope and order in our souls. Where there is suffering, there is duty. Americans in need are not strangers, they are citizens, not problems, but priorities.
We'll continue to redirect our resources to our two highest budget priorities a strong national defense to keep America free and at peace and a reliable safety net of social programs for those who have contributed and those who are in need. Contrary to some of the wild charges you may have heard, this administration has not and will not turn its back on America's elderly or America's poor.
We have deficits because big government spends too much. Now, next month I'll place two additional reforms before the Congress. We've created a welfare monster that is a shocking indictment of our sense of priorities. Our national welfare system consists of some 59 major programs and over 6,000 pages of Federal laws and regulations on which more than $132 billion was spent in 1985.
These are called "Bundles". In certain cases they can trade their bundles, swap them with others. The evidence of these swaps will inevitably reveal to us the order of priorities of the agent. All the bundles that enjoy the same ranking by a given agent are this agent's "Indifference Sets". The construction of an Ordinal Utility Function is, thus, made simple.
Does anyone know exactly what are the respective functions and powers of the Ministry of Reconstruction, the Ministry of Labour, the Board of Trade, the Ministry of Pensions, the Ministry of National Service, the Board of Works, the Ministry of Food Control, the Board of Agriculture and Fisheries, the War Trade Department, the Home Office, the Local Government Board, the Committee on Food Production, the Restriction of Enemy Supply Committee, the Priorities Committees, the Ministry of Munitions, etc., etc.
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