Almost two months ago, in accepting the Presidential nomination of my party, I spoke of the historically unique crisis facing the United States. At that time I said: "Never before in our history have Americans been called upon to face three grave threats to our very existence, any one of which could destroy us. We face a disintegrating economy, a weakened defense and an energy policy based on the sharing of scarcity." Now since I first spoke those words, no action has been taken by President Carter to change this grave, unprecedented situation. In fact, during the last few months the overall economic situation in the United States has deteriorated markedly. The cumulative effect of the economic policies the Carter Administration has followed over the last three and one-half years has damaged our economy much more than virtually anyone could have foreseen. Interest rates and inflation have become unconscionably high. Almost two million Americans have lost their jobs this year alone. And the tax burden continues to steadily increase. In effect, Mr. Carter's economic failures are an assault on the hopes and dreams of millions of American families. They are essentially an unprecedented failure of Presidential leadership that strikes at the very heart of every American family, every factory, every farm, every community. Make no mistake about it: what Mr. Carter has done to the American economy is not merely a matter of lines and graphs on a chart. Individuals and families are being hurt and hurt badly. Factories are empty; unemployment lines are full.

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "Almost two months ago, in accepting the Presidential nomination of my party, I spoke of the historically unique crisis facing the United States. At that time I said: "Never before in our history have Americans been called upon to face three grave threats to our very existence, any one of which could destroy us. We face a disintegrating economy, a weakened defense and an energy policy based on the sharing of scarcity." Now since I first spoke those words, no action has been taken by President Carter to change this grave, unprecedented situation. In fact, during the last few months the overall economic situation in the United States has deteriorated markedly. The cumulative effect of the economic policies the Carter Administration has followed over the last three and one-half years has damaged our economy much more than virtually anyone could have foreseen. Interest rates and inflation have become unconscionably high. Almost two million Americans have lost their jobs this year alone. And the tax burden continues to steadily increase. In effect, Mr. Carter's economic failures are an assault on the hopes and dreams of millions of American families. They are essentially an unprecedented failure of Presidential leadership that strikes at the very heart of every American family, every factory, every farm, every community. Make no mistake about it: what Mr. Carter has done to the American economy is not merely a matter of lines and graphs on a chart. Individuals and families are being hurt and hurt badly. Factories are empty; unemployment lines are full." in the context of "Ronald Reagan in Remarks at the International Business Council in Chicago (9 September 1980)" to mean that wisdom is timeless.