07/05/1987
https://www.presidency.ucsb.edu...
"Since 1949 American ships have patrolled in the Gulf, an area that is a vital strategic and economic crossroad for the nations of three continents."
"That's why I'm one of those Americans who has always believed a constitutional amendment mandating that Congress balance the budget is the answer to what ails us."
"I think most of you know how badly out of control Federal spending has gotten in recent years."
"Even two centuries ago, some of them, especially Thomas Jefferson, were troubled by one omission: the lack of a limitation on public borrowing by the Federal Government."