Eight months ago I submitted to the Congress a new budget calling for Federal outlays of $268.7 billion during fiscal year 1974.

We confidently expect that each of our allies will assume its share of the common defense burden, joining in equitable arrangements which strengthen the solidarity of the Alliance.

Our people are now at peace for the first time in more than a decade.

The national rate of serious crime is now heading down for the first time in 17 years, and they want that downward spiral to continue.

The Government of the United States is pledged to maintain our commitments to the Alliance and to make a substantial contribution on a mutual defense.

I call upon the Congress to act while there is still time, while vital spending bills are still before it.

Collective defense remains the cornerstone of the Atlantic Alliance.

We are already at the razor's edge in defense spending.

The battle against inflation must be our first priority for the remainder of this year.

It is the policy of the Federal Government to improve and enhance environmental quality.

The United States will do its part, and we look to our partners to join in fulfilling the promise of the years that lie ahead.

I believe that in this we can infuse our old ties with a new dynamism.

Every dollar we cut from the Federal deficit is another blow against higher prices.

A balance of power between the legislative and the judicial and the executive branches of Government.

America's greatest resource is its people themselves--you, your family, your neighbors.

We must check the rise in prices.

We must move on four fronts at once if we are to win the battle against inflation.

We were elected less as Republicans or Democrats than as public officials charged with a public responsibility.