Ronald W. Reagan on the woes of the economy. "The people have not created this disaster in our economy; the federal government has. It has overspent, overestimated, and over regulated. It has failed to deliver services within the revenues it should be allowed to raise from taxes. In the thirty-four years since the end of World War II, it has spent 448 billion dollars more than it has collection in taxes – 448 billion dollars of printing press money, which has made every dollar you earn worth less and less. At the same time, the federal government has cynically told us that high taxes on business will in some way “solve” the problem and allow the average taxpayer to pay less. Well, business is not a taxpayer it is a tax collector. Business has to pass its tax burden on to the customer as part of the cost of doing business. You and I pay the taxes imposed on business every time we go to the store. Only people pay taxes and it is political demagoguery or economic illiteracy to try and tell us otherwise.
The key to restoring the health of the economy lies in cutting taxes. At the same time, we need to get the waste out of federal spending. This does not mean sacrificing essential services, nor do we need to destroy the system of benefits which flow to the poor, the elderly, the sick and the handicapped. We have long since committed ourselves, as a people, to help those among us who cannot take care of themselves. But the federal government has proven to be the costliest and most inefficient provider of such help we could possibly have.
We must put an end to the arrogance of a federal establishment which accepts no blame for our condition, cannot be relied upon to give us a fair estimate of our situation and utterly refuses to live within its means. I will not accept the supposed “wisdom” which has it that the federal bureaucracy has become so powerful that it can no longer be changed or controlled by any administration. As President I would use every power at my command to make the federal establishment respond to the will and the collective wishes of the people.
We must force the entire federal bureaucracy to live in the real world of reduced spending, streamlined functions and accountability to the people it serves. We must review the functions of the federal government to determine which of those are the proper province of levels of government closer to the people.
The 10th article of the Bill of Rights is explicit in pointing out that the federal government should do only those things specifically called for in the Constitution. All others shall remain with the states or the people. We haven’t been observing that 10th article of late. The federal government has taken on functions it was never intended to perform and which it does not perform well. There should be a planned, orderly transfer of such functions to states and communities and a transfer with them of the sources of taxation to pay for them."
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