It will be a full employment budget.

The present welfare system has become a monstrous, consuming outrage.

The tide of inflation has turned.

America has long been the wealthiest nation in the world.

In the long run, is to provide sufficient income to purchase adequate diets and to meet the other basic day-to-day needs.

The estimates of revenue loss may, therefore, be regarded as maximum estimates.

I do not plan to ask for wage controls or price controls.

Finally, it should be noted that when the wages of Federal employees go up, even greater pressures are placed on private employers to raise their own wages-and thus the fires of inflation are fueled.

The costly and unwarranted pay features of H.R. 17809 would add still further to a $4 billion blue collar Federal payroll.

In order to keep the administrative wage structure flexible, to fight inflation, and to maintain sufficient employment levels, I must disapprove this bill.

And it assures that the widow, the retired couple, the small investor who have invested their life savings in securities will not suffer loss because of an operating failure in the mechanisms of the marketplace.

So as we look at America at this Christmas season, I think rather than apologizing for our great, strong private enterprise economy, we should recognize that we are very fortunate to have it.

We are the richest nation in the history of the world and will remain so.

It is a fraud on the people to tell them, 'We are going to pass laws that are going to raise your standards of living,' unless we have this robust, strong, private enterprise economy of ours, which is the wonder of the world.

Productivity improvements such as those contained in the Board's report are absolutely essential to combat the rise in prices.

It is essential that our railroads continue to operate.

A nationwide stoppage of rail service would cause hardship to all Americans and harm to the economy, particularly a stoppage at the height of the pre-Christmas season.

We propose to reduce the program level not by $3 billion, but by $5.3 billion.