Yes, deficits are a problem. I've been saying so for more than a quarter of a century now. But the problem is not the size of the deficit, it's the size of government's claim on our economy.

I will stand on, and continue to use, the figures I have used, because I believe they are correct. Now, I'm not going to deny that you don't now and then slip up on something; no one bats a thousand.

In case anybody asks you about my position on capital punishment, you can tell them I favor it; and if they want to know why, you can tell them this story.

The American taxing structure, the purpose of which was to serve the people, began instead to serve the insatiable appetite of government. If you will forgive me, you know someone has once likened government to a baby. It is an alimentary canal with an appetite at one end and no sense of responsibility at the other.

Now back in 1927 an American socialist, Norman Thomas, six times candidate for president on the Socialist Party ticket, said the American people would never vote for socialism. But he said under the name of liberalism the American people will adopt every fragment of the socialist program.

Freedom is the very essence of our nation. To be sure, ours is not a perfect nation. But even with our troubles, we remain the beacon of hope for oppressed peoples everywhere. Never give up the fight for freedom - a fight which, though it may never end, is the most ennobling known to man.

My fellow Americans, I must speak to you tonight about a mounting danger in Central America that threatens the security of the United States. This danger will not go away it will grow worse, much worse, if we fail to take action now.