Richard Nixon: “I want to suggest what the American people—what you—can do together to hold down the cost of living.”

Our military forces deter potential aggressors and, together with those of our allies, serve to assure the continued security of the free world.

I am pleased that in this bill the Congress has expressed support for our objectives by authorizing $22.2 billion for military procurement purposes during fiscal year 1975.

This legislation exceeds my budgetary recommendations by such a large amount--some $540 million--that it presents a clear and distinct threat to our fight against inflation and cannot be accepted.

I have never been a quitter. To leave office before my term is completed is abhorrent to every instinct in my body. But as president, I must put the interests of America first. Therefore, I shall resign the presidency effective at noon…