Ronald Reagan actually said...

These subsidies are the present value of the difference between the terms and conditions on which direct loans or loan guarantees are available to borrowers in the private sector and the easier ones provided by Federal credit programs.

03/11/1987

https://www.presidency.ucsb.edu...

More Ronald Reagan Quotes

"No matter what they call it, no matter how they disguise it, no tax increase will cross my desk without my writing a great big veto on it."
"We're free to follow our imaginations into a future of abundant promise."
"Today we're being called to a second American revolution of hope and opportunity."
"Poverty won."

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