 The President of the United States accompanied by John J. Fallon and Donald T. Regan. Thank you all very much. Thank you. This is a great view from up here. It's kind of like being at a Saturday night tag team wrestling match at the Garden. In a few minutes, I'll ring the bells so trading can begin, but I know that if I don't, it'll ring itself anyway. But in this lull before the storm, I'd like to say a few words about where this country's been and where we'll be going from here. The last time I visited the New York Stock Exchange was in 1980 and the mood sure was different then. But in the last five years, we've moved from malaise to hope, confidence, and opportunity. We knew that malaise for what it really was. Government, with its high taxes, excessive spending, and over-regulation had thrown a wrench in the works of our free markets. In essence, government was trying to run the economy, but was ruining it instead. So we cut tax rates and counterproductive regulations and moved to limit spending growth. On those regulations, our estimate is that we have reduced or eliminated enough regulations to save 300 million man-hours a year that the public and local and state governments used in filling out government forms to meet the regulations. And I think we've seen some healthy results on this trading floor. Those tax cuts helped re-energize the stock market, with a volume of shares traded hitting record highs and more Americans than ever before participating in the market. And enormous rush of new equity issues, venture capital, and new investment became the driving force behind an economic expansion as strong as any we'd seen in more than 20 years. And for all those who say we can't repeat the dramatic growth or record of the past two years, I can only paraphrase my chief of staff. We're bullish on American on the American economy. American economy is like a racehorse that's begun to gallop out in front of the field. Other nations hobbled by high tax rates and weighed down by oversized government spending have been slow to catch up. And this has caused some painful dislocations, especially for America's exporting industries. But the answer is hardly to hamstring the American economy to make it drop back with the others. The solution is for our trading partners to throw off the dead weight of government, cut their own tax rates, spending, and overregulation, and join us in opening up their markets to foreign competition so they can catch up with us in our race to the future. There's a one sure method to cut the expense and price of American made goods and increase our export sales. The surest way to make American products more competitive is to spur innovation, enterprise, and productivity by cutting tax rates again. And that's exactly what we intend to do. It's time, too, that government got off its present spending spree before it squanders our future prosperity. Senate Republicans are trying to put together a package of genuine spending reductions, and they're going to need all of our support and encouragement in the coming weeks. And let me repeat again, if the political heat of budget cutting is too much for Congress, then they should give the president what 43 governors have a line item veto. And if Congress can't cut, I will. And let me tell you, let me tell you, it really would make my day. With tax reform and budget control, our economy will be free to expand to its full potential. Driving the bears back into permanent hibernation, that's our economic program for the next four years, we're going to turn the bull loose. What you've done for me is better than a hot tip. I think we slowed the growth in spending. Who are St. John's? I present to you the President of St. John's University, Father Joseph T. Kale. Thank you, Harding and Cordial. St. John's, welcome to Ronald Reagan. Here's of the Committee on Present Danger and Founding the Citizens for the Republic. Mr. Reagan was elected 40th President of the United States. He was re-elected in 1984, 825 to 13th American Patriots Hall of Fame, the American Newspaper Guild Award, the National Football Foundation Hall of Fames Distinguished American Award, as well as a host of honorary degrees. Born in Tampico, Illinois, Mr. Reagan was educated in Illinois public schools and holds a baccalaureate in economics and sociology from Eureka College. His first lady is the former... I know that right now that's... For some time, I've been hearing about a university in New York that boasts states, Governor Mario Cuomo of New York, that this in university has the highest bar exam pass rates during that time. The kind of America that we now have a viewer in high school, but in spite of your youth, I know you were aware that America at that time... And how together we can secure justice for our people. When I ask for your help, it's very simple. You are the citizen. Government works for you. And it doesn't hurt if sometimes you decide to be the boss. And tell them, I have said very many times that those elected officers who sit there in line at everybody else on the team did too. But now the subject, what... How could he favor you over others of his children around the other team? And what we figured out for ourselves was that there'd be no inch... The president was battles with Congress. The university gold medal. This is the first time we've ever given us at the same time any function and the last.