Richard Nixon: “At my request, the Federal Home Loan Bank System is initiating a new commitment program which will cover mortgages other…”

I do hereby proclaim October 29, 1974, as National Student Government Day.

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.

In keeping Federal spending under control, we do not intend, of course, to single out only farm or environmental programs.

Two weeks ago, I vowed to the American people that any appropriations bill substantially above my budget for fiscal year 1975 would be vetoed.