“ The time to repair the roof is when the sun is shining—by filling three basic gaps in our anti-recession protection. ”
John F. Kennedy, State of the Union Address (11 January 1962). copy citation
| Author | John F. Kennedy |
|---|---|
| Source | State of the Union Address |
| Topic | protection timing prevention |
| Date | 11 January 1962 |
| Language | English |
| Reference | |
| Note | |
| Weblink | http://www.gutenberg.org/files/5041/5041-h/5041-h.htm#2 |
Context
“(3) Third, the 8 percent tax credit for investment in machinery and equipment, which, combined with planned revisions of depreciation allowances, will spur our modernization, our growth, and our ability to compete abroad.
Moreover—pleasant as it may be to bask in the warmth of recovery—let us not forget that we have suffered three recessions in the last 7 years. The time to repair the roof is when the sun is shining—by filling three basic gaps in our anti-recession protection. We need:
(1) First, Presidential stand-by authority, subject to Congressional veto, to adjust personal income tax rates downward within a specified range and time, to slow down an economic decline before it has dragged us all down;” source
Moreover—pleasant as it may be to bask in the warmth of recovery—let us not forget that we have suffered three recessions in the last 7 years. The time to repair the roof is when the sun is shining—by filling three basic gaps in our anti-recession protection. We need:
(1) First, Presidential stand-by authority, subject to Congressional veto, to adjust personal income tax rates downward within a specified range and time, to slow down an economic decline before it has dragged us all down;” source
