Inflation, which is the archenemy of consumers and housewives, has not wiped out these gains.

Employment and income have also continued to rise.

Our research laboratories are turning out new techniques and leading to new industries, and soon that crop of war babies, the boys and girls who were born during the war, the Second War and at the end of the war, will be going to schools…

The level of our economy, as I pointed out today, is high but, considering all the resources which this country has, it should be higher.

I think we can be proud also of balancing our international payments-at least the progress that we have made--but we still have some distance to go.

I think it is also important that the President of the United States report to the American people because he is, with the Vice President, the only American official elected by all of the people in all of the fifty States.

We have therefore been obliged to recover not only from the recession of 1960-61, but also from the recession of 1958.

We know now much more than we did in the past about relieving the hardships of unemployment and about cushioning our economy against the business cycle.

Every consumer and businessman in America listening to me tonight knows that he can safely spend and invest tomorrow with real confidence in the long-range future of the United States of America.

I am glad to be in Maine. Whether it rains or shines I am privileged to be with you.

I want to express my very warm appreciation to you for coming out in the rain.