8 months ago

💵 Federal Deficit — Press Conference Dec 14 Part 2 — #RonaldReagan 1983 * #PITD Question-and-Answer Session With Reporters on Domestic and Foreign Policy Issues
December 14, 1983 Excerpt
The President. Well, the canceling of the budget meeting this morning was just for another reason. No, we're not close to any decision. These are meetings in which we take up various segments of the budget, preliminary estimates and so forth. So, they can be handled anytime within the next few days.
But with regard to a contingency tax, first of all, I can tell you there won't be any tax in 1984. The thing is that's always been back of the contingency tax -- and I think this is what Don Regan was saying -- was that such a tax would only be considered on the basis of getting the spending reductions that we must have.
This whole matter of looking only at the deficits out there -- and I don't minimize them; I've been preaching too long, for a quarter of a century now, against deficit spending and having these deficits -- but the deficit is a symptom of the problem, a result of the problem. The problem is the Federal Government is taking too big a percentage from the private sector of the gross national product. And the answer to getting rid of deficits and not running up more deficits comes with reducing that percentage that the Federal Government is taking.
Now, if you get to the absolute point in which government cannot be any further reduced in size and cost and then it is still out of line with revenues, you would have to make an adjustment on that side. But if you would look at it actually, when a government is taking too much money, then it's got to match that with one of two ways: It's got to do a tax, or it's got to reduce government cost, one or the other -- or it's got to borrow, I should say. Now, either way you're taking more money from the private sector, whether you borrow it or whether you tax it.
And the real answer is to cure the disease, which is to get government down to a percentage figure that is consistent with having a sound economy.

The President. I think that's been a little out of context also. I reviewed the whole situation where Mr. Feldstein spoke on that, and he made an answer that I think any one of us could have made. The answer was said that, ``Well, yes, if the defense budget were reduced, and if you hadn't tried this tax thing, reduced revenues for taxes, yes, the budget would be -- or the deficit would be smaller.'' He did not say that it would be right to do those things, either to increase the tax or to reduce the defense spending.
Now, let me point out that some 20 years ago, during the Kennedy administration, defense spending was 47.8 percent of our budget. We are under 29 percent with regard to defense spending. We're spending about double on social reforms and social programs as to a percentage of the budget as was spent in those Kennedy years.
So, just to count the number of dollars, you have to look at defense and say, ``What is necessary for our national security?'' And then if there's anything unnecessary, yes, eliminate it, but if everything there is necessary from sound thinking for our national security, then you can't reduce beyond that point.

The President. Yes, we are trying to stay in communication with them. And I have to believe that they will come back, because it is to their advantage to come back. They stand to gain as much or more than anyone in coming back to those talks. So, we're still determined on the reduction, particularly of nuclear weapons, and I am determined that once you start down that path, we must come to the realization that those weapons should be outlawed worldwide forever.

The President. Are you trying to ask whether I'm going to be busy in 1984 or not? When the time is right, you don't go by what is a time period that is right for it. When there is an opportunity and evidence that we can achieve something, that there is an agenda that can go on the table in which some gains can be made for both sides, then you have a summit. You don't have one just to say that you've had a summit, because too many people get disappointed.
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