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Ronald Reagan Presidential Library
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Collection: Press Secretary, Office of the: Press Release and
Briefings: Records
Folder Title: 05/20/1982 #2435 - Remarks - White House
Reception for Members of the Retail Federation
Box: 30
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THE WHITE HOUSE
Office of the Press Secretary
For Immediate Release
May 20, 1982
REMARKS OF THE PRESIDENT
AT THE RECEPTION
FOR THE AMERICAN RETAIL FEDERATION
The Rose Garden
1:14 P.M. EDT
THE PRESIDENT: Thank you very much. And I know that we've
kept you waiting out here, but then I thought you were out here in the
cool fresh air and that you wouldn't -- (laughter) -- you wouldn't
mind that.
It's a privilege to welcome the merchants of America to
the White House. And you're the no-nonsense people who end every day
by examining the bottom line. You understand the risks and the rewards
of investment. Incentive is a tool of your tráde, and you get ahead
by banking on your faith in the American people.
The wholesale and retail trade employs some 21 million
Americans, as you well know. And you produce more jobs than almost
any other sector of the economy. Retail sales are expected to account
for more than a trillion dollars this year. And if you'd like to help
with the debt, I'd -- (laughter) -- but believe me, I'm glad to see
you. You've been steadfast in your support of our program for economic
recovery, and we in this administration understand that no plan can
help our economy unless America's retailers are a part of that plan.
And these gentlemen up here who've just been in the
office with me there before they came out here have assured me of
cooperation in continuing along the course that we started last year.
While interest rates, as you well know, remain painfully
high and unemployment continues at hurtful and unacceptable levels,
your industry may be beginning to inch us out of this recession. Last
month retail sales rose by 1.4 percent. Well, I think the least we
can say is that's a hopeful sign.
But you also know, as I do, that the shot in the arm that
our economy needs now is for responsible members of the Congress to pass
a budget that brings down the deficit. This nation can no longer afford
the big spending, big taxing policies that have held sway for the last
20 years. Deficit spending and strangling taxation created runaway
inflation, sky-high interest rates and these unacceptable rates of
unemployment.
I think we've finally gotten through to the big spenders.
Most of them now actually say out loud that deficits are bad. And --
(laughter) -- unfortunately they seem to think the American people
caused the deficits by not paying enough taxes. Well, I've got another
message for them from the heartland: We don't have a trillion-dollar
debt because we don't tax enough; we have a trillion-dollar debt because
government spends too much. Simply raising taxes won't do the trick.
(Applause.)
You know, it's well for us to remember that in the last
five years taxes went up by more than 200 percent, and we still had
in those five years the largest string of deficits in our history.
I have every
MORE
- 2 -
hope that soon the Congress will pass a budget resolution consistent
with the goals that you and I embrace. And I still believe there
are responsible members of both parties who place more importance
on the economic health of this nation than on short-term political
gain. If together we can both hold down taxes and cut spending,
and if we can finally get control of the budget monster, then I
believe a strong and lasting recovery is not far away.
I thank you for coming today, and for your help in our
effort to return fiscal sanity to Washington. Your efforts have
been key tc our success so far. I will rely on you, both as stalwarts
of our economy and keepers of the faith, as we meet the challenges
that are still ahead.
Just a little while ago in one of the meetings that
delayed me and got us off schedule here, Jim Watt of the Department
of Interior just gave me a little display. I took it off before
I came out here. It is a lapel button. And he pointed out the
fact that, since 1849 when the Department of Interior was started,
there has been a logo that is an American buffalo on the Department
of Interior logo. And it has been facing to the left. And he has
decided that, because we came here to change things with regard to
the deteriorating parks, the buffalo now faces the other way.
(Laughter, applause.)
Well, I have to duck back in there for the rest of
that other meeting. But I am going to turn you over to Secretary
of the Treasury, Don Regan, for your questions that I know you will
have and for additional remarks that will inspire you also to
carry on with us with regard to getting this budget reduced.
END
1:18 P.M. EDT
THE WHITE HOUSE
Office of the Press Secretary
For Immediate Release
May 20, 1982
REMARKS OF THE PRESIDENT
AT THE RECEPTION
FOR THE AMERICAN RETAIL FEDERATION
The Rose Garden
1:14 P.M. EDT
THE PRESIDENT: Thank you very much. And I know that we've
kept you waiting out here, but then I thought you were out here in the
cool fresh air and that you wouldn't -- (laughter) -- you wouldn't
mind that.
It's a privilege to welcome the merchants of America to
the White House. And you're the no-nonsense people who end every day
by examining the bottom line. You understand the risks and the rewards
of investment. Incentive is a tool of your trade, and you get ahead
by banking on your faith in the American people.
The wholesale and retail trade employs some 21 million
Americans, as you well know. And you produce more jobs than almost
any other sector of the economy. Retail sales are expected to account
for more than a trillion dollars this year. And if you'd like to help
with the debt, I'd -- (laughter) -- but believe me, I'm glad to see
you. You've been steadfast in your support of our program for economic
recovery, and we in this administration understand that no plan can
help our economy unless America's retailers are a part of that plan.
And these gentlemen up here who've just been in the
office with me there before they came out here have assured me of
cooperation in continuing along the course that we started last year.
While interest rates, as you well know, remain painfully
high and unemployment continues at hurtful and unacceptable levels,
your industry may be beginning to inch us out of this recession. Last
month retail sales rose by 1.4 percent. Well, I think the least we
can say is that's a hopeful sign.
But you also know, as I do, that the shot in the arm that
our economy needs now is for responsible members of the Congress to pass
a budget that brings down the deficit. This nation can no longer afford
the big spending, big taxing policies that have held sway for the last
20 years. Deficit spending and strangling taxation created runaway
inflation, sky-high interest rates and these unacceptable rates of
unemployment.
I think we've finally gotten through to the big spenders.
Most of them now actually say out loud that deficits are bad. And --
(laughter) -- unfortunately they seem to think the American people
caused the deficits by not paying enough taxes. Well, I've got another
message for them from the heartland: We don't have a trillion-dollar
debt because we don't tax enough; we have a trillion-dollar debt because
government spends too much. Simply raising taxes won't do the trick.
(Applause.)
You know, it's well for us to remember that in the last
five years taxes went up by more than 200 percent, and we still had
in those five years the largest string of deficits in our history.
I have every
MORE
- 2 -
hope that soon the Congress will pass a budget resolution consistent
with the goals that you and I embrace. And I still believe there
are responsible members of both parties who place more importance
on the economic health of this nation than on short-term political
gain. If together we can both hold down taxes and cut spending,
and if we can finally get control of the budget monster, then I
believe a strong and lasting recovery is not far away.
I thank you for coming today, and for your help in our
effort to return fiscal sanity to Washington. Your efforts have
been key tc our success so far. I will rely on you, both as stalwarts
of our economy and keepers of the faith, as we meet the challenges
that are still ahead.
Just a little while ago in one of the meetings that
delayed me and got us off schedule here, Jim Watt of the Department
of Interior just gave me a little display. I took it off before
I came out here. It is a lapel button. And he pointed out the
fact that, since 1849 when the Department of Interior was started,
there has been a logo that is an American buffalo on the Department
of Interior logo. And it has been facing to the left. And he has
decided that, because we came here to change things with regard to
the deteriorating parks, the buffalo now faces the other way.
(Laughter, applause.)
Well, I have to duck back in there for the rest of
that other meeting. But I am going to turn you over to Secretary
of the Treasury, Don Regan, for your questions that I know you will
have and for additional remarks that will inspire you also to
carry on with us with regard to getting this budget reduced.
END
1:18 P.M. EDT
THE WHITE HOUSE
Office of the Press Secretary
For Immediate Release
May 20, 1982
REMARKS OF THE PRESIDENT
AT THE RECEPTION
FOR THE AMERICAN RETAIL FEDERATION
The Rose Garden
1:14 P.M. EDT
THE PRESIDENT: Thank you very much. And I know that we've
kept you waiting out here, but then I thought you were out here in the
cool fresh air and that you wouldn't -- (laughter) -- you wouldn't
mind that.
It's a privilege to welcome the merchants of America to
the White House. And you're the no-nonsense people who end every day
by examining the bottom line. You understand the risks and the rewards
of investment. Incentive is a tool of your trade, and you get ahead
by banking on your faith in the American people.
The wholesale and retail trade employs some 21 million
Americans, as you well know. And you produce more jobs than almost
any other sector of the economy. Retail sales are expected to account
for more than a trillion dollars this year. And if you'd like to help
with the debt, I'd -- (laughter) -- but believe me, I'm glad to see
you. You've been steadfast in your support of our program for economic
recovery, and we in this administration understand that no plan can
help our economy unless America's retailers are a part of that plan.
And these gentlemen up here who've just been in the
office with me there before they came out here have assured me of
cooperation in continuing along the course that we started last year.
While interest rates, as you well know, remain painfully
high and unemployment continues at hurtful and unacceptable levels,
your industry may be beginning to inch us out of this recession. Last
month retail sales rose by 1.4 percent. Well, I think the least we
can say is that's a hopeful sign.
But you also know, as I do, that the shot in the arm that
our economy needs now is for responsible members of the Congress to pass
a budget that brings down the deficit. This nation can no longer afford
the big spending, big taxing policies that have held sway for the last
20 years. Deficit spending and strangling taxation created runaway
inflation, sky-high interest rates and these unacceptable rates of
unemployment.
I think we've finally gotten through to the big spenders.
Most of them now actually say out loud that deficits are bad. And --
(laughter) -- unfortunately they seem to think the American people
caused the deficits by not paying enough taxes. Well, I've got another
message for them from the heartland: We don't have a trillion-dollar
debt because we don't tax enough; we have a trillion-dollar debt because
government spends too much. Simply raising taxes won't do the trick.
(Applause.)
You know, it's well for us to remember that in the last
five years taxes went up by more than 200 percent, and we still had
in those five years the largest string of deficits in our history.
I have every
MORE
- 2 -
hope that soon the Congress will pass a budget resolution consistent
with the goals that you and I embrace. And I still believe there
are responsible members of both parties who place more importance
on the economic health of this nation than on short-term political
gain. If together we can both hold down taxes and cut spending,
and if we can finally get control of the budget monster, then I
believe a strong and lasting recovery is not far away.
I thank you for coming today, and for your help in our
effort to return fiscal sanity to Washington. Your efforts have
been key tc our success so far. I will rely on you, both as stalwarts
of our economy and keepers of the faith, as we meet the challenges
that are still ahead.
Just a little while ago in one of the meetings that
delayed me and got us off schedule here, Jim Watt of the Department
of Interior just gave me a little display. I took it off before
I came out here. It is a lapel button. And he pointed out the
fact that, since 1849 when the Department of Interior was started,
there has been a logo that is an American buffalo on the Department
of Interior logo. And it has been facing to the left. And he has
decided that, because we came here to change things with regard to
the deteriorating parks, the buffalo now faces the other way.
(Laughter, applause.)
Well, I have to duck back in there for the rest of
that other meeting. But I am going to turn you over to Secretary
of the Treasury, Don Regan, for your questions that I know you will
have and for additional remarks that will inspire you also to
carry on with us with regard to getting this budget reduced.
END
1:18 P.M. EDT
THE WHITE HOUSE
Office of the Press Secretary
For Immediate Release
May 20, 1982
REMARKS OF THE PRESIDENT
AT THE RECEPTION
FOR THE AMERICAN RETAIL FEDERATION
The Rose Garden
1:14 P.M. EDT
THE PRESIDENT: Thank you very much. And I know that we've
kept you waiting out here, but then I thought you were out here in the
cool fresh air and that you wouldn't -- (laughter) -- you wouldn't
mind that.
It's a privilege to welcome the merchants of America to
the White House. And you're the no-nonsense people who end every day
by examining the bottom line. You understand the risks and the rewards
of investment. Incentive is a tool of your trade, and you get ahead
by banking on your faith in the American people.
The wholesale and retail trade employs some 21 million
Americans, as you well know. And you produce more jobs than almost
any other sector of the economy. Retail sales are expected to account
for more than a trillion dollars this year. And if you'd like to help
with the debt, I'd -- (laughter) -- but believe me, I'm glad to see
you. You've been steadfast in your support of our program for economic
recovery, and we in this administration understand that no plan can
help our economy unless America's retailers are a part of that plan.
And these gentlemen up here who've just been in the
office with me there before they came out here have assured me of
cooperation in continuing along the course that we started last year.
While interest rates, as you well know, remain painfully
high and unemployment continues at hurtful and unacceptable levels,
your industry may be beginning to inch us out of this recession. Last
month retail sales rose by 1.4 percent. Well, I think the least we
can say is that's a hopeful sign.
But you also know, as I do, that the shot in the arm that
our economy needs now is for responsible members of the Congress to pass
a budget that brings down the deficit. This nation can no longer afford
the big spending, big taxing policies that have held sway for the last
20 years. Deficit spending and strangling taxation created runaway
inflation, sky-high interest rates and these unacceptable rates of
unemployment.
I think we've finally gotten through to the big spenders.
Most of them now actually say out loud that deficits are bad. And --
(laughter) -- unfortunately they seem to think the American people
caused the deficits by not paying enough taxes. Well, I've got another
message for them from the heartland: We don't have a trillion-dollar
debt because we don't tax enough; we have a trillion-dollar debt because
government spends too much. Simply raising taxes won't do the trick.
(Applause.)
You know, it's well for us to remember that in the last
five years taxes went up by more than 200 percent, and we still had
in those five years the largest string of deficits in our history.
I have every
MORE
- 2 -
hope that soon the Congress will pass a budget resolution consistent
with the goals that you and I embrace. And I still believe there
are responsible members of both parties who place more importance
on the economic health of this nation than on short-term political
gain. If together we can both hold down taxes and cut spending,
and if we can finally get control of the budget monster, then I
believe a strong and lasting recovery is not far away.
I thank you for coming today, and for your help in our
effort to return fiscal sanity to Washington. Your efforts have
been key to our success so far. I will rely on you, both as stalwarts
of our economy and keepers of the faith, as we meet the challenges
that are still ahead.
Just a little while ago in one of the meetings that
delayed me and got us off schedule here, Jim Watt of the Department
of Interior just gave me a little display. I took it off before
I came out here. It is a lapel button. And he pointed out the
fact that, since 1849 when the Department of Interior was started,
there has been a logo that is an American buffalo on the Department
of Interior logo. And it has been facing to the left. And he has
decided that, because we came here to change things with regard to
the deteriorating parks, the buffalo now faces the other way.
(Laughter, applause.)
Well, I have to duck back in there for the rest of
that other meeting. But I am going to turn you over to Secretary
of the Treasury, Don Regan, for your questions that I know you will
have and for additional remarks that will inspire you also to
carry on with us with regard to getting this budget reduced.
END
1:18 P.M. EDT
THE WHITE HOUSE
Office of the Press Secretary
For Immediate Release
May 20, 1982
REMARKS OF THE PRESIDENT
AT THE RECEPTION
FOR THE AMERICAN RETAIL FEDERATION
The Rose Garden
1:14 P.M. EDT
THE PRESIDENT: Thank you very much. And I know that we've
kept you waiting out here, but then I thought you were out here in the
cool fresh air and that you wouldn't -- (laughter) -- you wouldn't
mind that.
It's a privilege to welcome the merchants of America to
the White House. And you're the no-nonsense people who end every day
by examining the bottom line. You understand the risks and the rewards
of investment. Incentive is a tool of your trade, and you get ahead
by banking on your faith in the American people.
The wholesale and retail trade employs some 21 million
Americans, as you well know. And you produce more jobs than almost
any other sector of the economy. Retail sales are expected to account
for more than a trillion dollars this year. And if you'd like to help
with the debt, I'd -- (laughter) -- but believe me, I'm glad to see
you. You've been steadfast in your support of our program for economic
recovery, and we in this administration understand that no plan can
help our economy unless America's retailers are a part of that plan.
And these gentlemen up here who've just been in the
office with me there before they came out here have assured me of
cooperation in continuing along the course that we started last year.
While interest rates, as you well know, remain painfully
high and unemployment continues at hurtful and unacceptable levels,
your industry may be beginning to inch us out of this recession. Last
month retail sales rose by 1.4 percent. Well, I think the least we
can say is that's a hopeful sign.
But you also know, as I do, that the shot in the arm that
our economy needs now is for responsible members of the Congress to pass
a budget that brings down the deficit. This nation can no longer afford
the big spending, big taxing policies that have held sway for the last
20 years. Deficit spending and strangling taxation created runaway
inflation, sky-high interest rates and these unacceptable rates of
unemployment.
I think we've finally gotten through to the big spenders.
Most of them now actually say out loud that deficits are bad. And --
(laughter) -- unfortunately they seem to think the American people
caused the deficits by not paying enough taxes. Well, I've got another
message for them from the heartland: We don't have a trillion-dollar
debt because we don't tax enough; we have a trillion-dollar debt because
government spends too much. Simply raising taxes won't do the trick.
(Applause.)
You know, it's well for us to remember that in the last
five years taxes went up by more than 200 percent, and we still had
in those five years the largest string of deficits in our history.
I have every
MORE
- 2 -
hope that soon the Congress will pass a budget resolution consistent
with the goals that you and I embrace. And I still believe there
are responsible members of both parties who place more importance
on the economic health of this nation than on short-term political
gain. If together we can both hold down taxes and cut spending,
and if we can finally get control of the budget monster, then I
believe a strong and lasting recovery is not far away.
I thank you for coming today, and for your help in our
effort to return fiscal sanity to Washington. Your efforts have
been key to our success so far. I will rely on you, both as stalwarts
of our economy and keepers of the faith, as we meet the challenges
that are still ahead.
Just a little while ago in one of the meetings that
delayed me and got us off schedule here, Jim Watt of the Department
of Interior just gave me a little display. I took it off before
I came out here. It is a lapel button. And he pointed out the
fact that, since 1849 when the Department of Interior was started,
there has been a logo that is an American buffalo on the Department
of Interior logo. And it has been facing to the left. And he has
decided that, because we came here to change things with regard to
the deteriorating parks, the buffalo now faces the other way.
(Laughter, applause.)
Well, I have to duck back in there for the rest of
that other meeting. But I am going to turn you over to Secretary
of the Treasury, Don Regan, for your questions that I know you will
have and for additional remarks that will inspire you also to
carry on with us with regard to getting this budget reduced.
END
1:18 P.M. EDT
THE WHITE HOUSE
Office of the Press Secretary
For Immediate Release
May 20, 1982
REMARKS OF THE PRESIDENT
AT THE RECEPTION
FOR THE AMERICAN RETAIL FEDERATION
The Rose Garden
1:14 P.M. EDT
THE PRESIDENT: Thank you very much. And I know that we've
kept you waiting out here, but then I thought you were out here in the
cool fresh air and that you wouldn't -- (laughter) -- you wouldn't
mind that.
It's a privilege to welcome the merchants of America to
the White House. And you're the no-nonsense people who end every day
by examining the bottom line. You understand the risks and the rewards
of investment. Incentive is a tool of your trade, and you get ahead
by banking on your faith in the American people.
The wholesale and retail trade employs some 21 million
Americans, as you well know. And you produce more jobs than almost
any other sector of the economy. Retail sales are expected to account
for more than a trillion dollars this year. And if you'd like to help
with the debt, I'd -- (laughter) -- but believe me, I'm glad to see
you. You've been steadfast in your support of our program for economic
recovery, and we in this administration understand that no plan can
help our economy unless America's retailers are a part of that plan.
And these gentlemen/up here who've just been in the
office with me there before they came out here have assured me of
cooperation in continuing along the course that we started last year.
While interest rates, as you well know, remain painfully
high and unemployment continues at hurtful and unacceptable levels,
your industry may be beginning to inch us out of this recession. Last
month retail sales rose by 1.4 percent. Well, I think the least we
can say is that's a hopeful sign.
But you also know, as I do, that the shot in the arm that
our economy needs now is for responsible members of the Congress to pass
a budget that brings down the deficit. This nation can no longer afford
the big spending, big taxing policies that have held sway for the last
20 years. Deficit spending and strangling taxation created runaway
inflation, sky-high interest rates and these unacceptable rates of
unemployment.
I think we've finally gotten through to the big spenders.
Most of them now actually say out loud that deficits are bad. And --
(laughter) -- unfortunately they seem to think the American people
caused the deficits by not paying enough taxes. Well, I've got another
message for them from the heartland: We don't have a trillion-dollar
debt because we don't tax enough; we have a trillion-dollar debt because
government spends too much. Simply raising taxes won't do the trick.
(Applause.)
You know, it's well for us to remember that in the last
five years taxes went up by more than 200 percent, and we still had
in those five years the largest string of deficits in our history.
I have every
MORE
- 2 -
hope that soon the Congress will pass a budget resolution consistent
with the goals that you and I embrace. And I still believe there
are responsible members of both parties who place more importance
on the economic health of this nation than on short-term political
gain. If together we can both hold down taxes and cut spending,
and if we can finally get control of the budget monster, then I
believe a strong and lasting recovery is not far away.
I thank you for coming today, and for your help in our
effort to return fiscal sanity to Washington. Your efforts have
been key tc our success so far. I will rely on you, both as stalwarts
of our economy and keepers of the faith, as we meet the challenges
that are still ahead.
Just a little while ago in one of the meetings that
delayed me and got us off schedule here, Jim Watt of the Department
of Interior just gave me a little display. I took it off before
I came out here. It is a lapel button. And he pointed out the
fact that, since 1849 when the Department of Interior was started,
there has been a logo that is an American buffalo on the Department
of Interior logo. And it has been facing to the left. And he has
decided that, because we came here to change things with regard to
the deteriorating parks, the buffalo now faces the other way.
(Laughter, applause.)
Well, I have to duck back in there for the rest of
that other meeting. But I am going to turn you over to Secretary
of the Treasury, Don Regan, for your questions that I know you will
have and for additional remarks that will inspire you also to
carry on with us with regard to getting this budget reduced.
END
1:18 P.M. EDT
THE WHITE HOUSE
Office of the Press Secretary
For Immediate Release
May 20, 1982
REMARKS OF THE PRESIDENT
AT THE RECEPTION
FOR THE AMERICAN RETAIL FEDERATION
The Rose Garden
1:14 P.M. EDT
THE PRESIDENT: Thank you very much. And I know that we've
kept you waiting out here, but then I thought you were out here in the
cool fresh air and that you wouldn't -- (laughter) -- you wouldn't
mind that.
It's a privilege to welcome the merchants of America to
the White House. And you're the no-nonsense people who end every day
by examining the bottom line. You understand the risks and the rewards
of investment. Incentive is a tool of your trade, and you get ahead
by banking on your faith in the American people.
The wholesale and retail trade employs some 21 million
Americans, as you well know. And you produce more jobs than almost
any other sector of the economy. Retail sales are expected to account
for more than a trillion dollars this year. And if you'd like to help
with the debt, I'd -- (laughter) -- but believe me, I'm glad to see
you. You've been steadfast in your support of our program for economic
recovery, and we in this administration understand that no plan can
help our economy unless America's retailers are a part of that plan.
And these gentlemen up here who've just been in the
office with me there before they came out here have assured me of
cooperation in continuing along the course that we started last year.
While interest rates, as you well know, remain painfully
high and unemployment continues at hurtful and unacceptable levels,
your industry may be beginning to inch us out of this recession. Last
month retail sales rose by 1.4 percent. Well, I think the least we
can say is that's a hopeful sign.
But you also know, as I do, that the shot in the arm that
our economy needs now is for responsible members of the Congress to pass
a budget that brings down the deficit. This nation can no longer afford
the big spending, big taxing policies that have held sway for the last
20 years. Deficit spending and strangling taxation created runaway
inflation, sky-high interest rates and these unacceptable rates of
unemployment.
I think we've finally gotten through to the big spenders.
Most of them now actually say out loud that deficits are bad. And --
(laughter) -- unfortunately they seem to think the American people
caused the deficits by not paying enough taxes. Well, I've got another
message for them from the heartland: We don't have a trillion-dollar
debt because we don't tax enough; we have a trillion-dollar debt because
government spends too much. Simply raising taxes won't do the trick.
(Applause.)
You know, it's well for us to remember that in the last
five years taxes went up by more than 200 percent, and we still had
in those five years the largest string of deficits in our history.
I have every
MORE
- 2 -
hope that soon the Congress will pass a budget resolution consistent
with the goals that you and I embrace. And I still believe there
are responsible members of both parties who place more importance
on the economic health of this nation than on short-term political
gain. If together we can both hold down taxes and cut spending,
and if we can finally get control of the budget monster, then I
believe a strong and lasting recovery is not far away.
I thank you for coming today, and for your help in our
effort to return fiscal sanity to Washington. Your efforts have
been key tc our success so far. I will rely on you, both as stalwarts
of our economy and keepers of the faith, as we meet the challenges
that are still ahead.
Just a little while ago in one of the meetings that
delayed me and got us off schedule here, Jim Watt of the Department
of Interior just gave me a little display. I took it off before
I came out here. It is a lapel button. And he pointed out the
fact that, since 1849 when the Department of Interior was started,
there has been a logo that is an American buffalo on the Department
of Interior logo. And it has been facing to the left. And he has
decided that, because we came here to change things with regard to
the deteriorating parks, the buffalo now faces the other way.
(Laughter, applause.)
Well, I have to duck back in there for the rest of
that other meeting. But I am going to turn you over to Secretary
of the Treasury, Don Regan, for your questions that I know you will
have and for additional remarks that will inspire you also to
carry on with us with regard to getting this budget reduced.
END
1:18 P.M. EDT
THE WHITE HOUSE
Office of the Press Secretary
#2435
For Immediate Release
May 20, 1982
REMARKS OF THE PRESIDENT
AT THE RECEPTION
FOR THE AMERICAN RETAIL FEDERATION
The Rose Garden
1:14 P.M. EDT
THE PRESIDENT: Thank you very much. And I know that we've
kept you waiting out here, but then I thought you were out here in the
cool fresh air and that you wouldn't -- (laughter) -- you wouldn't
mind that.
It's a privilege to welcome the merchants of America to
the White House. And you're the no-nonsense people who end every day
by examining the bottom line. You understand the risks and the rewards
of investment. Incentive is a tool of your trade, and you get ahead
by banking on your faith in the American people.
The wholesale and retail trade employs some 21 million
Americans, as you well know. And you produce more jobs than almost
any other sector of the economy. Retail sales are expected to account
for more than a trillion dollars this year. And if you'd like to help
with the debt, I'd -- (laughter) -- but believe me, I'm glad to see
you. You've been steadfast in your support of our program for economic
recovery, and we in this administration understand that no plan can
help our economy unless America's retailers are a part of that plan.
And these gentlemen up here who've just been in the
office with me there before they came out here have assured me of
cooperation in continuing along the course that we started last year.
While interest rates, as you well know, remain painfully
high and unemployment continues at hurtful and unacceptable levels,
your industry may be beginning to inch us out of this recession. Last
month retail sales rose by 1.4 percent. Well, I think the least we
can say is that's a hopeful sign.
But you also know, as I do, that the shot in the arm that
our economy needs now is for responsible members of the Congress to pass
a budget that brings down the deficit. This nation can no longer afford
the big spending, big taxing policies that have held sway for the last
20 years. Deficit spending and strangling taxation created runaway
inflation, sky-high interest rates and these unacceptable rates of
unemployment.
I think we've finally gotten through to the big spenders.
Most of them now actually say out loud that deficits are bad. And --
(laughter) -- unfortunately they seem to think the American people
caused the deficits by not paying enough taxes. Well, I've got another
message for them from the heartland: We don't have a trillion-dollar
debt because we don't tax enough; we have a trillion-dollar debt because
government spends too much. Simply raising taxes won't do the trick.
(Applause.)
You know, it's well for us to remember that in the last
five years taxes went up by more than 200 percent, and we still had
in those five years the largest string of deficits in our history.
I have every
MORE
- 2 -
hope that soon the Congress will pass a budget resolution consistent
with the goals that you and I embrace. And I still believe there
are responsible members of both parties who place more importance
on the economic health of this nation than on short-term political
gain. If together we can both hold down taxes and cut spending,
and if we can finally get control of the budget monster, then I
believe a strong and lasting recovery is not far away.
I thank you for coming today, and for your help in our
effort to return fiscal sanity to Washington. Your efforts have
been key to our success so far. I will rely on you, both as stalwarts
of our economy and keepers of the faith, as we meet the challenges
that are still ahead.
Just a little while ago in one of the meetings that
delayed me and got us off schedule here, Jim Watt of the Department
of Interior just gave me a little display. I took it off before
I came out here. It is a lapel button. And he pointed out the
fact that, since 1849 when the Department of Interior was started,
there has been a logo that is an American buffalo on the Department
of Interior logo. And it has been facing to the left. And he has
decided that, because we came here to change things with regard to
the deteriorating parks, the buffalo now faces the other way.
(Laughter, applause.)
Well, I have to duck back in there for the rest of
that other meeting. But I am going to turn you over to Secretary
of the Treasury, Don Regan, for your questions that I know you will
have and for additional remarks that will inspire you also to
carry on with us with regard to getting this budget reduced.
END
1:18 P.M. EDT