Remarks on Signing a Memorandum Directing Reductions in Federal Spending

January 22, 1981

Two days ago I signed a Federal hiring freeze, which started the process of bringing the runaway budget under control, and today that process continues in the form of four definite actions that I am taking today. One is cutting down on government travel; two is cutting back on government consultants and expensive contract studies; three is stopping the procurement of certain items; and four is calling for Federal appointees to exercise restraint on expenditures in their offices.

And no single action alone, I know, will get our economy back on the road to full recovery, but we must begin. And as with every other economic action we take, it's essential that we follow through on our commitments. Thus, I view the implementation of these orders as critical. The American people are determined, I believe, to have actions on the economic problems that we face. They're going to find out that we're listening to them. We're equally determined to see through every essential step that is needed to restore our economy.

So now, those four points that I made, that's what I am signing here today.

Note: The President spoke at 11:54 a.m. in the Oval Office at the White House.