Economic aid

“ We must at times re­member that our financial resources are limited and that the greatest care is needed to insure their use in the most efficient manner possible. Having committed ourselves to a policy of economic development as the only solution to the problem of poverty and under-production, we must mobilize all our resources and exercise the greatest care in their investment. While the assistance of our friend and ally, the United States, would materially accelerate this process, only our own resources can support it on a permanent basis. ”

“ As we pursue our economic development efforts, we will also improve the delivery and coverage of basic services to provide the minimum basic needs of our people -- water services, electricity, housing, jobs and livelihood opportunities, credit support, among others. ”

“ The first is to recognize the need for raising revenues for the financing of our expanding economic development program, and then to act boldly and manfully upon that need. The economic development requirements for which we must find financial support are as diverse as they are essential to our continued progress and well-being. ”

“ Investments in public infrastructure and in the capacity of our people—through food, education, health, jobs, and social protection—remain our top priority. For this year, economic and social services were allocated almost 70% of the national budget. ”

“ So the nation whose capital and labor are not well employed may do wisely in developing new industries, even at a considerable expense for introducing the new industries. But if all the nation's energies are profitably employed, the costly development of resources may wisely wait for future capital and labor. So all special incentives require a constant inquiry as to beneficial results supposed to follow, and the policy of the government must conform to the needs of general welfare. ”

“ I know many of you listening this morning are anxious about the state of our economy and what it means for your personal finances. I am confident that the implementation of this relief package can begin to address those concerns. I'm confident by getting our markets moving, we will help unleash the key to our continued economic success, the entrepreneurial spirit of the American people. ”

“ We've sharply broken with the past of trickle-down economics and huge deficits by adopting an economic program that drives down the deficit, increases investment incentives to smallbusinesses and high-tech businesses, and helps our people to move from welfare to work. ”

“ There is the crudest form, that of direct money relief, such as is involved in Old Age Pensions. There is the subsidising of socially desirable economic operations, such as insurance against sickness or the acquisition of freehold by tenants. There is the expenditure of money on various forms of education, in the scientific assistance of industry and agriculture, in promotion of forestry, drainage, or the improvement of local communication. ”

“ Since 2001, the tax relief we delivered has left $880 billion in the hands of American workers, and small businesses, and families like yours, and you used that money to help produce more than four years of uninterrupted economic growth. ”

“ As a complement to these initiatives, efforts to provide financial assistance in regulatory proceedings to citizen groups, small businesses, and others whose participation is limited by their economic circumstances must continue to be pursued. ”

“ We have the problems of food in­sufficiency, unemployment, rising prices, dwindling inter­national reserve, decreasing revenue collections, increasing budgetary requirements, and other problems of equal importance and urgency. But with faith and courage we will meet these problems and solve them to the satisfaction of our people.
Economic problems are not solved in a day, and foreign assistance does not immediately jump at the beck of oppor­tunity. We must, therefore, face the fact that we shall have to rely mainly on our own resources if we are to proceed with our development. ”

“ Our ability to keep it in check de­pends largely upon our determination to continue observing and strengthening the sound fiscal and monetary policies and practices we have promulgated these last three years.
No amount of outside assistance can place our economic development program on a continuing and self-generating basis. ”

“ Resources of government.—All expenditures of government are as subject to economic laws with reference to consumption of wealth as are those of individuals. Actual result in welfare is the only reason for such expenditure. Hence the same tests of economy are applied. Government makes but few expenditures for the immediate purpose of reproducing and increasing wealth. So far as its investments sustain productive industry, and the products of that industry enter into the world's market, they are subject to the same economic laws of supply and demand that govern all production of wealth. ”

“ The machinery of government then becomes a part of every person's welfare, and his relation to its maintenance by contribution of his wealth is a part of prudent consumption. The economic question in consumption, then, involves not so much what one can get from society as what he can give to society, since his welfare comes largely through organization in the use of accumulated wealth. ”

“ The President is also issuing an Executive Order that will launch an all-of-government effort to provide equitable emergency economic relief to working families, communities, and small businesses across the nation. ”

“ The restoration of infrastructure and the raising of incomes in this ravaged economy depend on the implementation of sound macro- and micro-economic policies, including the encouragement of foreign investment, and generous support from donor countries. ”

“ The second requirement for government is the establish­ment of a complement of policies designed to induce and mobilize the maximum of internal domestic savings and the maximum external financing in order to sustain the overall investment requirements of the economic development program. ”

“ But they can supplement the efforts of these organizations; they can bring monetary as well as personal assistance; and they can, above all, bring a mass of public opinion to bear on local and central governing bodies which will lead to the only real economy, which consists in expenditure on an adequate scale, bringing to the aid of the families of the people the preventive, the medical, and the nursing facilities of which they remain in need. ”

“ Production extended.—In all these three directions, or in any combination of them, transporting, transforming and transmuting materials, men seek the production of a supply for meeting anticipated wants, and so contribute directly or indirectly to welfare. No one way of producing what men need, where they need it, and when they need it, has any superior claim to the name production. All are making the material yield up welfare to the one who needs it, and produce wealth just so far as their services are necessary in bringing the welfare. ”

“ It’s a plan that will save or create up to four million jobs over the next two years, ignite spending by business and consumers alike, and make the investments necessary for lasting economic growth and prosperity. ”

“ Energetically developing social programs and vigorously ensuring and improving the well-being of the people This year we will concentrate on accomplishing major tasks that are urgently needed in economic and social development and directly related to the vital interests of the people to improve their well-being.
We will do everything in our power to stimulate employment. We will make full use of the role of the service sector, labor-intensive industries, small and medium-sized enterprises, and the non-public sector of the economy in creating jobs. ”

“ These farmers on the other hand were beginning to be very much interested in a number of economic reforms which would vitally affect their welfare, such as the reduction and readjustment of the burden of taxation, the control of corporations in the interests of the people, the reduction and regulation of the cost of transportation, and an increase in the currency supply. ”

“ Every great revolution in industry, in population, and even in knowledge, brings with it new and special wants, and [Pg 299] there are cases in which assisted emigration is one of the best forms of charity.
These are but a few illustrations of the directions in which the large surplus funds which many of the very rich are prepared to expend on philanthropic purposes may profitably go. There is a marked and increasing tendency in our age to meet all the various exigencies of Society, as they arise, by State aid resting on compulsory taxation. ”

“ A BILL To create jobs, restore economic growth, and strengthen America’s middle class through measures that modernize the nation’s infrastructure, enhance America’s energy independence, expand educational opportunities, preserve and improve affordable health care, provide tax relief, and protect those in greatest need, and for other purposes. ”

“ Development Momentum.—In the midst of the vicissitudes around us, I propose that we carry on with our economic development program within the scope of real resources available to us. We cannot freeze the economic development program although we have to decelerate to some extent our national budget financed by higher levels of tax revenues so that effective demand may be reduced, and our international reserve replenished while our industrial and agricultural production continues a healthy pace. ”

“ In September the United States Congress approved funds for emergency balance-of-payments assistance as the first step in this initiative. I also attach great importance to the 1983 fiscal year package of foreign assistance. But our goal is not a temporary boost from foreign aid. Our goal is to help our neighbors strengthen democratic institutions and free economies that stand on their own. We need long-term incentives to expand production and create new jobs. ”

“ Provide guidance and funds as necessary to credit unions that will contribute to stabilization of the nation's economy by helping to establish and maintain a sound economic base for continuing operations, combating inflation, maintaining confidence in public and private financial institutions, and promoting thrift.”. ”

“ Government aid can only supplement the role of private investment, trade expansion, commodity stabilization, and, above all, internal self-improvement. The processes of growth are gradual--bearing fruit in a decade, not a day. ”

“ Number four, we have to preserve these incentives to reform the welfare system and to encourage people who are working, so that more people will move from welfare to work. And number five, when we cut spending, we still have to leave some investment resources for education and training, for new technologies, for converting from a defense to a domestic economy, and for incentives for businesses and private individuals to invest in communities that are distressed and to create new jobs and new enterprises. These are the steps we must take to rebuild our economy. ”

“ First, we want to keep the programs as much as possible that are needed to generate jobs and meet human needs, including highway and road construction, summer jobs for young people, immunization for children, construction of waste water sites, and aid to small businesses. We also want to keep funding for extended unemployment compensation benefits for people who have been unemployed for a long time because the economy isn't creating jobs. ”

“ Government orders were the backlog of heavy industry; government wages turned over and over again to make consumer purchasing power and to sustain every merchant in the community. Businessmen with their businesses, small and large, had to be saved. Private enterprise is necessary to any nation which seeks to maintain the democratic form of government. In their case, just as certainly as in the case of drought-stricken farmers, government spending has saved.
Government having spent wisely to save it, private industry begins to take workers off the rolls of the government relief program. ”

“ The economic program shall give utmost priority to the foreign exchange earning sectors of the economy; this priority shall be enforced in the lending programs of government finan­cial institutions, in tax incentive and funding legislation to be proposed to Congress, in the allocation of the budget of the national government and through all the multiple chan­nels available to government in the management of the eco­nomy. ”

“ We plan the economy to benefit the social needs of our citizens.
In this vein, we have addressed the development program to respond to the social needs of our people. The social programs which recur in every sectoral plan for the economy is designed to cut unemployment, boost incomes, elevate living and health standards, and provide essential utilities like power and water in the rural areas.
Through an all-out strategy of land reform, land distribution, food produc­tion campaigns and general welfare projects, the social programs all hope to eliminate the prime sources of social discontent. ”

“ The omission to render such aid is not a wise economy, but, on the contrary, undoubtedly results in losses of immense sums annually that might be saved through well-directed efforts by the Government to promote this vital interest. ”

“ These circumstances have resulted in the demand in Congress from producers for direct financial relief and in demand for protective tariffs, in order to enable the new struggling industries to exist, and to permit of development of adequate home supplies. ”