 President, United States. You scared me. Usually when I come around that corner from the elevator and start in here, I see someone up here talking to whoever is assembled. And then they see me, and I think I've interrupted them. I came around the corner, and here was an empty podium. And the light just went out. Oh, well, I'll get along in the dark. There it is. OK, thank you. Well, it's wonderful to have you all here again at the White House this year. What a difference a year makes. You may remember that last year at this time, the jury was still out on our economic recovery. And I remember telling you last year that all those hostile to our economic recovery program, and there were a few, had called it because they didn't think it would work, Reaganomics. And I remember telling you last year or saying to you that I wondered if it does work, what they'll call it. Well, a funny thing happened to that word since then. I've noticed that lately, Reaganomics, as a word seems to be about as popular as a skunk at a lawn party, or maybe in this gathering, I should say the company libel lawyer at a story conference. But really, if you go through the list of major economic problems, those problems that weighed so heavily on all of us only a few years ago, well, it'd been a pretty good record of accomplishment. First, it was inflation, 12.4%, and now it's down to around four or less. Then federal spending growth, and that's been cut more than in half. We'd been told that couldn't be done. And then the prime interest rate, 21.5%. The highest since the Civil War, and cut nearly in half, it's 11%. And then the unemployment rate. And that's the one that really shocked the doomcriers. It's been dropping faster than during any recovery in the last 30 years. We've averaged over 300,000 people going back to work every month for the last 13 months. The economy is just one instance of what I think has been a willingness to meet America's foreign and domestic problems head on. We've rebuilt America's military strength and we've blunted Soviet expansionism. Yet at the very same time, we have aggressively pursued and will continue to pursue a wide-ranging series of negotiations aimed at achieving not just arms control, but arms reduction. Next week in Vienna, we and our allies will be sitting down once again with the Soviets and their allies to discuss reductions in conventional forces in Europe. In Stockholm, the United States has joined with many other nations to consider ways to reduce the risks of war and build confidence and trust in Europe. And in Geneva, at the Committee on Disarmament, we're seeking effective means to ban chemical weapons. There are 40 nations, including the Soviets, involved in those negotiations. But at the same time, we're looking to the Soviets to return to negotiations on reducing nuclear arsenals. And I still, I have to say, I have a dream that if we can start down that path and they'll join us, then maybe we'll all see the common sense of getting rid of those weapons entirely worldwide. But we've also addressed issues that were too often being ignored in official circles, but were some of the most active and deepest concerns of the people in our countries. Issues like the battle against drugs and organized crime, discipline in our schools and standards of excellence in our classrooms, we put these issues right where they belong, front and center on the public agenda. Perhaps most important, we've talked again about fundamental values like family, work, neighborhood, and yes, religion, values that have always been at the root of America's greatness as a nation. And I know that over the years, some newspaper people have developed a reputation for being a little cynical and hard-bitten. But you know, I think that underneath that tough front, the people in your business tend to be pretty idealistic and quietly committed about these values also. Heaven knows you don't want to, or don't do what you do for materialistic reasons. I mean, high pay in the great hours. No, there's a daily commitment on your part to high professional standards, to the art of writing and reporting, to telling the truth, to being part of a profession with an enormous tradition of public service in America. And that's what makes you so fiercely protective, and by the way, I applaud you on this, so fiercely protective of your First Amendment rights. Whatever temporary flaps, misunderstandings or mistakes occur in the relationship between the National Administration and the Press Corps, I want you to know there is no one more wary of government intrusions than those of us who call ourselves conservatives and take our political instructions from men like Thomas Jefferson. In much the same way, I think that down deep, you're better equipped than most people to understand what we mean when we talk about fundamental values. What institution, after all, is more dependent on a regard for hard work, a respect for values like truth and integrity than a newspaper. You have a professional interest in all these things. You spend millions of man hours and dollars trying to foster those qualities. It's why you train your staffs the way you do. You reporters and editors write down to the news carriers you sponsor in contests and send on trips to the state capital. And talk about public service. You know, I'll hazard a guess that there isn't a person in this room who, in his last year, hasn't worked hard on solving two or three major problems in his or her community. So I would offer the thought today that in many ways, you are a natural constituency for this new emphasis on fundamental values in America. You practice those fundamental values every day as do millions of other Americans. The motivating force in this administration has been our belief in the American people, not in the army of federal bureaucrats and social engineers. We've always believed that it's everyday Americans who hold the key to our progress as a nation. And that's why we tried to cut down the size of the federal gargantuan and get government back to the state and local communities where it belongs. And that's why we've put such stress on the values of the heartland, those values that are at the root of America's greatness. This is going to be an exciting political year. Even now, the charges and countercharges are beginning, but I hope that through the heat of political controversy, you'll give some thought in getting our message out to your communities. We all have a stake in America that holds to the great eternal truths, to the values of hard work, self-reliance, neighbor helping neighbor, and respect for the law under God. These values may be old-fashioned, but as no one knows better than all of you, they also work. And now I'm going to close with just telling you one little incident here that has to do with journalism in a way, not your kind of journalism. It happens to be the Armed Forces Journal over there at the Pentagon. And it's a favorite story I've been telling everyone I can get to stand still long enough to hear it. I'm so proud of those young people of ours in uniform, every one of them. And one, a Marine lieutenant who flies a Cobra was at Grenada. And then he went on to Beirut, and then he wrote back to the Armed Forces Journal, and they notified me of this. He said that every story he read about Grenada while he was there, in the story some place said, America produces more nutmeg than any other spot on earth. And it was so regular that he decided it was a code, and he was going to break the code. And he wrote back to say he had broken it. Six points. Number one, Grenada produces more nutmeg than any other spot on earth. Number two, the Soviets and the Cubans are trying to take Grenada. Number three, you can't make good eggnog without nutmeg. Number four, you can't have Christmas without eggnog. Number five, the Soviets and the Cubans are trying to steal Christmas. Number six, we stopped them. He decides to leave the service. You might want to take him on. Well, I understand now I'm going down the hall here, and I'm going to see each one of you individually in front of the fireplace in the blue room, and there I can get to say hello to each one of you individually and we'll have some pictures taken. So I'll get down there and in place and see you then.