○  名人演讲：a tale of two cities  ○

iverse; president carter's last budget had a deficit of less than one-third of this deficit. it is a deficit that, according to the president's own fiscal adviser, may grow as high as $300 billion a year for "as far as the eye can see."

and, ladies and gentlemen, it is a debt so large that as much as one-half of our revenue from the income tax goes just to pay the interest. it is a mortgage on our children's future that can be paid only in pain and that could bring this nation to its knees.

now don't take my word for it - i'm a democrat.

ask the republican investment bankers on wall street what they think the chances of this recovery being permanent are. you see, if they're not too embarrassed to tell you the truth, they'll say that they are appalled and frightened by the president's deficit. ask them what they think of our economy, now that it has been driven by the distorted value of the dollar back to its colonial condition - now we're exporting agricultural products and importing manufactured ones. ask those republican investment bankers what they expect the rate of interest to be a year from now. and ask them, if they dare tell you the truth you will hear from them, what they predict for the inflation rate a year from now, because of the deficit.

now, how important is this question of the deficit.

think about it practically: what chance would the republican candidate have had in 1980 if he had told the american people that he intended to pay for his so-called economic recovery with bankruptcies, unemployment, more homeless, more hungry and the largest government debt known to humankind? would american voters have signed the loan certificate for him on election day? of course not! that was an election won under false pretenses. it was won with smoke and mirrors and illusions. and that's the kind of recovery we have now as well.

and what about foreign policy? they said that they would make us and the whole world safer. they say

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