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CONFIDENTIAL
SU - 8th Draft
1/20/71
- 6 -
to a peacetime economy, we have paid a price in unemployment. One
million, nine hundred thousand jobs came to an end in our armed forces
and
defense UNA we plants shared in this past take two no years. comfort for the fact
It is true that despite this the level of unemployment in this
transition from a wartime to a peacetime economy is lower than at
any peacetime year of the 1960s.
But although that level may have been consider ed good enough in
the early Sixties; it is not good enough for this Administ ation. It is
not good enough for the man who is unemployed in the Seventies. We
must do better for workers in peacetime and we will do better.
To achieve this, I shall submit an expansionary budget this year
- one that will help stimulate the economy and thereby open up new
job opportunities for millions of Americans.
It will be a full-employment budget -- that is, a budget designed
to be in balance if the economy were operating at its peak potential.
By spending as if we were at full employment, we will help to bring
about full employment.
I ask the Congress to accept these expansionary policies -- to
accept the concept of the full employment budget.
CONFIDENTIAL
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"ocrText": "CONFIDENTIAL\nSU - 8th Draft\n1/20/71\n- 6 -\nto a peacetime economy, we have paid a price in unemployment. One\nmillion, nine hundred thousand jobs came to an end in our armed forces\nand\ndefense UNA we plants shared in this past take two no years. comfort for the fact\nIt is true that despite this the level of unemployment in this\ntransition from a wartime to a peacetime economy is lower than at\nany peacetime year of the 1960s.\nBut although that level may have been consider ed good enough in\nthe early Sixties; it is not good enough for this Administ ation. It is\nnot good enough for the man who is unemployed in the Seventies. We\nmust do better for workers in peacetime and we will do better.\nTo achieve this, I shall submit an expansionary budget this year\n- one that will help stimulate the economy and thereby open up new\njob opportunities for millions of Americans.\nIt will be a full-employment budget -- that is, a budget designed\nto be in balance if the economy were operating at its peak potential.\nBy spending as if we were at full employment, we will help to bring\nabout full employment.\nI ask the Congress to accept these expansionary policies -- to\naccept the concept of the full employment budget.\nCONFIDENTIAL"
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