December 31, 1983
My fellow Americans:
New Year's Eve is a time for looking back on the year past, and in a moment, I want to talk about
all that 1983 meant to America. But first I want to mention the topic of my radio talk 2 weeks ago
-- drunk driving.
A drunk or drugged person at the wheel of a car isn't a driver, that person is a machine of
destruction. So, let's enjoy all the wonderful celebrations that go with New Year's Eve, but,
please, when we drive, let's drive sober.
Nineteen eighty-three was the 207th year for our Grand Old Republic. Though the year had its
measure of hardship and even tragedy, it was a time when we Americans acted with courage,
self-confidence, and vigor.
We had reason to feel glad. America was on the mend. And as our economy regained strength, we
watched the progress of a sparkling recovery -- one of the strongest recoveries in 20 years. I said
from the beginning it would take time for our economic program to work. You can't cure 25
years of failed economic policies overnight. And, yes, we had some hard months at first. But 1983
saw our patience pay off as our program took hold.
On this New Year's Eve, the prime interest rate is 11 percent, about half of what it was when we
took office. Inflation for 1983 is running at only 3.2 percent, about a quarter of what it was just 3
years ago. Housing starts are running 60 percent higher than on this day last year.
Nineteen eighty-three saw the stock market reach new highs as it pumped vast new funds into the
economy and raised the value of pension funds where millions of working Americans have their
savings. During 1982, American manufacturers sold 5.8 million new cars. This year, they've sold
6.7 million.
As our basic industries and agriculture gain new strength, American ingenuity and enterprise are
creating whole new industries -- industries like robotics and bioengineering. Just a few years ago,
home computers were unheard of. By the end of 1982, American companies had sold some 2\1/2\
million home computers. This year, the figure is expected to climb to 7\1/2\ million.
This is one of the seasons when we Americans fly the most, to visit family and friends, because
there's nothing like being home for the holidays. Well, the deregulation of the airline industry has
increased competition and helped push fares down. And deregulation of banking is helping
millions.
In 1983, for the first time, everyday savers and small businesses received marked interest rates,
earning 3\1/2\ billion dollars in additional income. The best news of all: On New Year's Eve 1982,
100.8 million Americans had jobs. But today, the figure has climbed by 3.6 million, an all-time
high for our nation.
All this means that in 1983 it was easier to pay bills, put children through college, buy homes, or
borrow the money to start a new business than it had been in many years. Once again, the
American economy has begun to reward fresh ideas and good, hard work.
Just as 1983 saw our economy recovering, it saw a new sense of purpose in our Armed Forces
and foreign policy. In the military, morale has soared. Some pundits used to claim we could only
attract recruits when our economy was weak. But now, even with a strong economy and growing
opportunities in civilian life, our Armed Forces are attracting more and better qualified recruits
than ever. There's one statistic that shows just how dramatic the turnaround has been. If 1979 Air
Force retention rates had continued, three out of four pilots would have left the service after their
first tours. In 1983, better than three out of four stayed in.
Morale has improved partly because we've given our men and women in uniform better pay and
better equipment. But I just have to believe the courage of our soldiers and marines in Lebanon
and Grenada has a lot to do with it. And, as we celebrate the New Year, I wonder whether you
would all join Nancy and me in setting aside a moment to remember those who, in 1983, gave
their lives in the cause of freedom and to pray for those brave young men spending this day so far
from home.
In foreign policy, this year we've given firm support to democratic leadership in Central America.
In Grenada we set a nation free. In Asia, our trip to Japan and Korea further strengthened our
partnership with those nations. In Europe, 1983 saw the NATO alliance pass through harsh trials,
but the alliance has emerged more firmly united than ever -- more ardent in the cause of freedom
and peace, more dedicated to the paths of deterrence and dialog.
In Lebanon, the road to peace has proven long and hard, but there has been progress that would
have been impossible without our marines and the other troops in the multinational peacekeeping
force. Representatives of all Lebanese factions agreed in Geneva to recognize the government of
President Amin Gemayel. And talks have begun that will broaden the government's base. It isn't
easy. Progress is painfully slow, but progress is being made.
Nineteen eighty-three was a good year for America. If all of us keep pulling together, we can
make 1984 even better. Happy New Year and, until next week, thanks for listening, and God bless
you all.
Note: The President's remarks were recorded on December 28 at the Century Plaza Hotel in Los
Angeles, Calif., for broadcast on December 31.