Statement on the 1984 Gross National Product and Inflation Figures

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.