My fellow Americans:

There's an old saying we've all heard a thousand times about the weather and how everyone talks about it but no one does anything about it. Well, many of you must be feeling that way about the present state of our economy. Certainly there's a lot of talk about it, but I want you to know we're doing something about it. And the reason I wanted to talk to you is because you can help us do something about it.

Believe me, if some of you are confused, I can understand why. For some time, ever since we started planning the 1983 budget for the fiscal year beginning this coming October 1st, there's been a steady drumbeat of "reports" on what we're supposed to be doing.

I know you've read and heard on the news a variety of statements attributed to various "authoritative government sources who prefer not to have their names used." Well, you know my name, and I think I'm an authoritative source on this since I'm right in the middle of what's going on here. So, I'd like to set the record straight on a few of the things that you might have heard lately.

I'm sure you've heard that "we're proposing the largest single tax increase in history." The truth is, we're proposing nothing of the kind. And then there's the one that "our economic recovery program has failed, so I've abandoned it and turned to increasing taxes instead of trying to reduce Federal spending." Well, don't you believe that one either.

Yes, there is a tax bill before the Congress tied to a program of further cuts in spending. It is not, however, the "greatest single tax increase in history." Possibly it could be called the greatest tax reform in history, but it absolutely does not represent any reversal of policy or philosophy on the part of this administration or this President.

Now, you may have heard that some special interests oppose this bill. And that's right; some do. As a matter of fact, some in the Congress of my own party object to this bill