Johnson Notes Nation's Challenges
( Continued frow page 1)
level outside of mandatory in
creases. He said the budget
accurately covers all federal ex
penditures and receipts.
Under the new budget the ex
penditures will increase by $10.4
billion and receipts will increase
by $22.3 billion, including the
new tax revenues.
A breakdown of the $10 bil
lion showed:
• S3 billion for defense ef
forts.
• Almost $1 billion for lor
interest.
• $4.5 billion for mandatory
payments under laws passed by
Congress such as Social Secur
ity and Medicare.
• $1.6 billion for pay in
creases for military and civilian
personnel which Congress pass
ed.
Total expenditures approxi
mate S186 billion and total esti
mated revenues including the
tax bill are roughly $178 billion.
If Congress passes the tax
bill, Johnson said the budget
deficit can be reduced by $12
billion (from $20 billion to to
S8 billion). The war. he said, is
costing about $25 billion.
Johnson stressed that the tax
increase would cost the average
individual about a penny out of
each dollar's income.
•‘This must be a temporary
measure which expires in two
years,” he said. "Congress can
repeal it sooner if the need has
passed, but Congress can never
repeal inflation.”
He called for leaders of Am
erican business and labor to act
responsibly to keep increases
in line with productivity.
"I wish with all of my heart
that the expenditures that are
necessary to build and to pro
tect our power could all be de
voted to the programs of peace.
But until world conditions per
mit and until peace is assured.
America's might and America’s
bravest sons who wear our na
tion's uniform, must continue
to stand guard for all of us as
they gallantly do tonight in Viet
nam and other places in the
world,” the President said.
“Vet neither great weapons
nor individual courage can pro
vide the conditions for peace.
For two decades America has
committed itself against the ty
ranny of want and ignorance in
the world that threatens the
peace. We shall sustain that
commitment."
Another major point on the
international scene dealt with
nuclear disarmament. Johnson
told the assembly he is encour
aged to believe that a nuclear
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ban treaty draft ean be laid
l)efore the Geneva Conference in
the near future.
He based this feeling on com
munications received this aft
ernoon from Ambassador Fish
er in Geneva and added he is
hopeful of being able to for
ward such a treaty to Congress
this year for its approval.
Johnson commented on his
meeting last year with Russian
Chairman Kosygin saying that
if the two didn't reach accord
at least a clearer understanding
of respective positions was gain
ed.
"Serious differences still re
main between us, (the U.S. and
Russia), yet in these relations we
have made some progress since
Vienna and the Berlin Wall
and the Cuban missile crises.
But despite this progress we
must maintain a military force
that is capable of detering any
threat to this nation’s security
whatever the mode of aggres
sion. Our choice must not be
confined to total war or total ac
quiessance," Johnson said.
"We do have such a military
force today, and we shall main
tain it.”
Other highlights of John
Meeting Slated
A critique session for Emer
ald photographers will be held
at 5 p.m. in 301 Allen Hall. At
tendance is optional.
son's speech Included restating
his call to reduce the nation's
balance of payment deficit. He
asked Congress to help in car
rying out those parts of the
program that require legisla
tion.
"We must restore equilibrium
to our balance of payments, and
we must also strengthen the in
ternational monetary system.''
the President said.
"We have assured the world
that America’s full gold stock
stands behind our commitment
to maintain the price of gold at
$35 an ounce. And we must
back up this commitment by
legislating now to free our gold
reserve."
Johnson closed his speech on
a unifying note by calling for
candidates for public office not
to use the questions he had
raised for "narrow partisan ora
tory.”
"They (the questions) no to
the heart of what we Americans
are all about, all of us. Demo
crats and Republicans."
He said he hopes debates on
the policies would reflect the
seriousness and gravity of the
policies themselves.
Johnson said many of the
goals he spoke about can be
achieved this year and looked to
the nation's 200th birthday say
ing "The state of our union
will be much stronger eight
years from now ... if we re
solve to reach these goals now.
"And they are more impor
tant, much more important than
(he identity of the President
who will then he in office These
Konls are what the llRhtinfi and
our alliances are really meant
to protect
"Can wt* achieve these goals,
of course we can, if we will.
"If ever there was a people
wlu> sought more than mere
abundance it is our people
••If over there was a nation
capable of solving Its problems
it is this nation,
"II ever there wore a time
to know the pride and the ex
citement und the hope of be
ing an American it is this time.
"So this, my friends, is the
stati- of the union Seeking,
building, tested many times ibis
past year and ulways equal to
the test," Johnson concluded.
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