We must direct effective manpower policies to reduce unemployment and head off shortages.

We must remember that our budgetary costs--our current out-of-pocket expenditures--do not always provide a true measure of the cost of Government activities.

No dollar sign can measure the priceless service they provide.

The last 20 years have demonstrated that the Employment Act was neither dangerous nor visionary.

We will need to watch unfolding events closely, and to remain flexible in our tax and other policies so that we can change quickly if the need should arise.

Our prosperity is unequaled; and our growth rate and price stability are the envy of the world.

The success of that partnership is demonstrated by the present state of our economy.

The United States is not exempt from that shortage--and we will not be exempt as it worsens.

The number of jobs has grown by 5.3 million.

Corporate profits--after taxes--have risen 87 percent.

So, I am proud to note that in the past 8 months small business loans made by banks, and guaranteed by SBA, have soared 700 percent.

I do not want 'June Buying' to become a way of circumventing our cost reduction efforts.

As a result, the gold outflow--which averaged an alarming $1.7 billion a year from 1958 through 1960--was cut in half in 1961 and 1962, and has ceased entirely over the past 12 months.

MONETARY policy is one of our crucially important tools for maintaining a healthy and noninflationary economy.

It would be wrong to say that recessions are a relic of the past.

I want a government that will encourage business instead of harass it, but I don't want a business government.

The Economic Opportunity Act of 1964 is a good law.

You believe in social security, and so do I.