For decades, we have piled deficit upon deficit, mortgaging our future and our children's future for the temporary convenience of the present. To continue this long trend is to guarantee tremendous social, cultural, political, and economic upheavals. You and I, as individuals, can, by borrowing, live beyond our means, but for only a limited period of time. Why, then, should we think that collectively, as a nation, we are not bound by that same limitation?

The First Amendment of the Constitution was not written to protect the people from religion; that amendment was written to protect religion from government tyranny. . . But now we're told our children have no right to pray in school. Nonsense. The pendulum has swung too far toward intolerance against genuine religious freedom. It is time to redress the balance.

The glory of this land has been its capacity for transcending the moral evils of our past. For example, the long struggle of minority citizens for equal rights, once a source of disunity and civil war, is now a point of pride for all Americans. We must never go back. There is no room for racism, anti-Semitism, or other forms of ethnic and racial hatred in this country.

During my first press conference as president, in answer to a direct question, I pointed out that, as good Marxist-Leninists, the Soviet leaders have openly and publicly declared that the only morality they recognize is that which will further their cause, which is world revolution.

Together, let us make this a new beginning. Let us make a commitment to care for the needy, to teach our children the values and the virtues handed down to us by our families, to have the courage to defend those values and the willingess to sacrifice for them. Let us pledge to restore, in our time, the American spirit of voluntary service, of cooperation, of private and community initiative, a spirit that flows like a deep and mighty river through the history of our nation.

It's true hard work never killed anybody, but I figure, why take the chance?

Law and freedom must be indivisible partners. For without law, there can be no freedom, only choas and disorder; and without freedom, law is but a cynical veneer for injustice and oppression.