January 22, 1985
I am delighted by today's reports that the gross national product in 1984 increased by 6.8 percent
-- the biggest increase in 34 years -- and that inflation, as measured by the price deflator,
increased only 3.7 percent. We are succeeding in building strong and lasting economic growth
without inflation. And I believe these results demonstrate, once again, that our economic
program, given a chance to work, has worked beautifully in spite of the naysayers. Credit for this
must go to the hard-working people of the United States.
Yesterday I pledged a new America, an opportunity society in which all would benefit from
economic freedom. We are pushing closer than ever to that great goal, but we cannot rest on our
laurels. Further economic progress can and will be made for all Americans once we simplify taxes
and lower tax rates, create enterprise zones to stimulate economic activity in our cities, and
permanently limit the ability of the Federal Government to spend, so that less money will go to the
Federal Establishment and more will stay in the hands of the people, who are the creators of the
prosperity we enjoy.