Ronald Reagan actually said...

"The loan sales proceeds of approximately $3.41 billion constitute a significant step toward reducing the Federal Government's deficit."

"We have great faith in the American people."

"I wish to make clear my understanding that sections 252(a) (1) and (2) of the amended act do not preclude me or future Presidents from exercising our authority to supervise the execution of the law."

"America can avoid a fiscal disaster, but Congress will not do it by putting their hand in your pocket or with a get-soft defense program."