 You are America's best hope for the future and for the best hope for more jobs, stronger growth, and a higher standard of living. If we're to remain true to the American dream, we must preserve the chance for every small businessman and woman to make it big. And you know something I believe we're doing? Just that. From housing to high technology, America is on the move and small business is leading the way. We're creating an economic recovery built to last and to get better and better. Inflation is down by three quarters. The prime rate has been cut nearly in half, and tax rates have been cut by 25 percent for everyone who works and earns. Something else is getting better. That bureaucratic monster who would slay private enterprise is being taught a new command. It's called Heal. The growth of regulations has been cut by more than a third, and that means 300 million hours of federally imposed paperwork have been eliminated. This will save the public more than $150 billion over the next 10 years. In 1983, an estimated 600,000 businesses were incorporated, and that sets a new record. Better opportunities are opening up for all Americans. In 1983, for example, women filled more than 70 percent of the new jobs in managerial, professional, and technical fields. The number of women-owned businesses is growing four times faster than men's. And last year alone, 4 million Americans found jobs. We had the steepest drop in the unemployment rate in over 30 years, and growth is stronger than the experts had predicted. I think we're seeing the best of both worlds. Strong growth without a new run-up in inflation and interest rates. Now, forgive me for repeating what's become a kind of favorite question of mine, but now that our program is doing what we said it would, I keep wondering why they don't call it Reaganomics anymore. I guarantee you, we're not going back to the disasters of tax and tax and spend and spend. I do not favor raising taxes on hardworking Americans. I favor making government spend within its means and not a penny more. If we want continued, strong, steady growth, we must not raise taxes on small businesses which create more than half of all the new jobs. Take a look at the venture capital industry, which provides seed money for many of tomorrow's jobs and products. You will see the tremendous potential for progress. During 1983, the venture industry raised about three and a half billion dollars, nearly four times more than in 1980. The General Accounting Office has already estimated that previous investments of some 209 million in venture capital have generated 130,000 jobs in 10 years. Well, if 209 million of venture capital generated 130,000 jobs in 10 years, imagine how many jobs three and a half billion dollars will create in the next year. This recovery is being nourished by incentives from lower tax rates and important changes in the estate tax laws. They provide direct benefits to small business and in particular to small proprietors ships which make up 75% of all businesses in the United States. And I believe we've just seen the beginning of a long-term expansion that will bring greater opportunities to small business and to the American people. We've come too far, we've struggled too hard and accomplished too much to turn back now. America's days of hand wringing and defeatism are over. If we keep our heads, if we work together, and above all, if we have the courage to do what is right and necessary, then there is no limit to what our proud and free people can accomplish. I appreciate the support that the Small Business Legislative Council has shown in sharing in this belief. And so I've come here really just to say to you all, thank you very much and God bless you. Mr. President, the leaders of the Small Business Legislative Council have a presentation they would like to make to you. I would like to introduce them to you at this time, Phillip Freedlander, who is the chairman of the Small Business Legislative Council and also serves as the executive director of the United Tire Dealers and Retredders, and Jared Blum, who is the vice president and legal counsel of the Direct Selling Association and chairman-elect of the Small Business Legislative Council and Herbert Liebenson, who is the executive director of the Small Business Legislative Council and also the president of the National Small Business Association. Thank you very much. Mr. President, the Small Business Legislative Council has adopted a resolution. Our founding fathers envisioned a society that would allow complete freedom for individuals to realize their full potential and further to share and preserve the spirit of economic, political, and spiritual freedom. Your devotion served to the continuation and preservation of economic freedom for American small business has been demonstrated by opening the doors of communication between your administration at the highest levels in the small business community in a manner and fashion unprecedented in modern times. Your belief that a strong democratic society can and will be preserved as long as there is a strong small business community has been demonstrated many times over by deeds rather than words. Therefore, be it resolved, the members of the Small Business Legislative Council, representing over five million small firms, are deeply appreciative and gratified for the continued faith and support given by you to the small business community. Thank you, sir. Thank you very much. Who needs an Oscar?