now the president has asked us to judge him on whether or not he's fulfilled the promise he made four years ago. i believe that as democrats, we ought to accept that challenge. and, just for a moment let us consider what he has said and what he's done. inflation is down since 1980. but not because of the supply- side miracle promised to us by the president. inflation was reduced the old-fashioned way, with a recession, the worst since 1932. we could have brought inflation down that way. how did he do it? fifty-five thousand bankruptcies. two years of massive unemployment. two hundred thousand farmers and ranchers forced off the land. more homeless than at any time since the great depression in 1932. more hungry, in this nation of enormous affluence, the united states of america, more hungry. more poor - most of them women - and he paid one more thing, a nearly $200 billion deficit threatening our future.
now we must make the american people understand this deficit because they don't. the president's deficit is a direct and dramatic repudiation of his promise to balance our budget by 1983. how large is it? the deficit is the largest in the history of this un