WASHINGTON — This is the statement President Reagan made at the beginning of his news conference Thursday night:
I have a little statement here.
I know you have other questions on your mind, but there's an issue that I feel is also important to address this evening, so I'll just go with this.
For the last six years we've fought the good fight to get government spending under control, and it hasn't been easy.
And, as we've begun to rein in federal spending, we've been able to bring taxes down and subdue the monster of inflation.
Our combined program of tax cuts, deregulation and spending cuts is working--in fact is working miracles.
But now, even before Congress has drawn up their budget, some there are saying that they want to back away from our commitment to Gramm-Rudman-Hollings.
Some are even saying they want to raise taxes again on the American people.
Well, I'm sorry, but that just isn't going to happen.
The American people worked long and hard to cut tax rates and win tax reform.
And my pledge to veto any tax rate increase remains rock-solid.
It's time Congress cut the federal budget and left the family budget alone.
We would not have to fight this battle all year, every year, if the congressional budget process were not so desperately in need of reform.
The budget process at the federal level is unworkable, and this yearly deficit-feeding process must stop.
We must act now to pass a constitutional amendment to balance the budget.
In the meantime, our elected representatives cannot break their promise to the American people and back away from the commitment to the deficit-reduction goals of Gramm-Rudman-Hollings.
Now, before we get started, let me also add that, after our last press conference, I felt it was important for the Tower Commission to complete its work and report its findings.
And that has now happened.
I have accepted their recommendations and many are in the process of being implemented.
And that is the end of the statement.