Let the word go forth from this time and place, to friend and foe alike, that the torch has been passed to a new generation of Americans - born in this century, tempered by war, disciplined by a hard and bitter peace.

The basis of effective government is public confidence.

When you have seven percent unemployed, you have ninety-three percent working.

It is a paradoxical truth that tax rates are too high and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now Cutting taxes now is not to incur a budget deficit, but to achieve the more prosperous, expanding economy which can bring a budget surplus.

[War] can no longer be of concern to great powers alone.

Let us not be blind to our differences-but let us also direct attention to our common interests and to the means by which those differences can be resolved. And if we cannot end our differences, at least we can help make the world safe for diversity. For, in the final analysis, our most common link is that we all inhabit this small planet. We all breathe the same air. We all cherish our children's future. And we are all mortal.

If by a "Liberal," they mean someone who looks ahead and not behind, someone who welcomes new ideas without rigid reactions, someone who cares about the welfare of the people - their health, their housing, their schools, their jobs, their civil rights, and their civil liberties - someone who believes that we can break through the stalemate and suspicions that grip us in our policies abroad, if that is what they mean by a "Liberal," then I'm proud to say that I'm a "Liberal."