Ronald Reagan
Washington, DC, February 5, 1981
Reagan's 15pp Address as Pres to the Nation on the Economy, with Many Autograph Revisions
TM

A fine content, lengthy typed document with autograph revisions titled "Address to the Nation" on the economy, given from the Oval Office on live national television, 15pp. 8.5" x 11", Washington, D.C., February 5, 1981. Very light rusted paperclip impression at top, otherwise fine. This speech, made in the first and possibly most important year of Reagan's presidency, is one of nine that he delivered in 1981. A full transcript can be found listed on the Reagan Library's official website.

The speech begins: "...I am speaking to you tonight to give you a report on the state of our Nation's economy. I regret to say that we are in the worst ec[onomic] mess since the great depression…We have to face the truth and then go to work to turn things around…The Federal budget is out of control…Twenty years ago in 1960 our Federal Government payroll was less than $13 billion. Today it is $75 billion…Thirty-six cents is what this 1960 dollar is worth today. What incentive is there to save?...What has happened to the American dream of owning a home?...the audit presented to me found government policies of the last few decades responsible…There always those that told us taxes couldn't be cut until spending was reduced...the old business as usual treatment can't save us…We must chart a different course…and make use of technology which ourselves invented, that means putting Americans back to work…I've already placed a freeze on hiring replacements for those who…leave government office…I have decontrolled oil…and I am eliminating the ineffective Council on Wage and Price Stability…I will present in detail an economic program to Congress…budget cuts in virtually every department…a tax relief package…we will restore freedom of all men and women to excel and to create. We will unleash the energy and genius of the American people…Our aim is to increase our national wealth so all will have more, not redistribute what we already have…".

This speech also includes three separate pages titled "10, 11,12," which contain a portion of the written text above, with Reagan adding a paragraph in black ink on the final page, which is mimeograph paper. In full: "We can leave our children with an unpayable massive debt and a shattered economy, or we can leave them liberty in a land where every individual has the opportunity to be whatever God intended them to be. All it takes is a little common sense and recognition of our own ability. Together we can forge a new beginning for America. Thank you & good nite."

Offered with a typed cover memo from Helene von Damm to Ken Khachigian, one page, 6.25" x 9", on White House letterhead, February 6, 1981. In part: "…The handwritten editing in ink is the President's – made during meetings in the residence with Jim Baker, Jim Brady, Martin Anderson, Ken Khachigian, Dave Gergen, and Murray Weidenbaum. The changes in pencil are by Ken Khachigian".

This early speech reflects the economic principles that become known as "Reaganomics," and which can be distilled down to the following objectives: increase defense spending, decrease the federal budget and slow the rate of government growth, reduce income and capital gains taxes, reduce governmental regulation, and reduce inflation. In August 1981, President Reagan signed the Economic Recovery Tax Act of 1981, which brought reductions in individual income tax rates, the expensing of depreciable property, incentives for small businesses, and incentives for savings. Five years later, Reagan introduced the Tax Reform Act of 1986 brought the lowest individual and corporate income tax rates of any major industrialized country in the world.

This item comes with a Certificate from John Reznikoff, a premier authenticator for both major 3rd party authentication services, PSA and JSA (James Spence Authentications), as well as numerous auction houses.

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8.5" x 11"