Presidents -- United States -- Messages; United States -- Politics and government -- Sources
Taking a longer look at America's future, there can be neither sustained
growth nor more jobs unless we continue to have an assured supply of energy
to run our economy. Domestic production of oil and gas is still declining.
Our dependence on foreign oil at high prices is still too great, draining
jobs and dollars away from our own economy at the rate of $125 per year for
every American.
Last month, I signed a compromise national energy bill which enacts a part
of my comprehensive energy independence program. This legislation was late,
not the complete answer to energy independence, but still a start in the
right direction.
I again urge the Congress to move ahead immediately on the remainder of my
energy proposals to make America invulnerable to the foreign oil cartel.
My proposals, as all of you know, would reduce domestic natural gas
shortages; allow production from Federal petroleum reserves; stimulate
effective conservation, including revitalization of our railroads and the
expansion of our urban transportation systems; develop more and cleaner
energy from our vast coal resources; expedite clean and safe nuclear power
production; create a new national energy independence authority to
stimulate vital energy investment; and accelerate development of technology
to capture energy from the Sun and the Earth for this and future
generations.
Also, I ask, for the sake of future generations, that we preserve the
family farm and family-owned small business. Both strengthen America and
give stability to our economy. I will propose estate tax changes so that
family businesses and family farms can be handed down from generation to
generation without having to be sold to pay taxes.
I propose tax changes to encourage people to invest in America's future,
and their own, through a plan that gives moderate-income families income
tax benefits if they make long-term investments in common stock in American
companies.
The Federal Government must and will respond to clear-cut national
needs--for this and future generations.
Hospital and medical services in America are among the best in the world,
but the cost of a serious and extended illness can quickly wipe out a
family's lifetime savings. Increasing health costs are of deep concern to
all and a powerful force pushing up the cost of living. The burden of
catastrophic illness can be borne by very few in our society. We must
eliminate this fear from every family.
I propose catastrophic health insurance for everybody covered by Medicare.
To finance this added protection, fees for short-term care will go up
somewhat, but nobody after reaching age 65 will have to pay more than $500
a year for covered hospital or nursing home care, nor more than $250 for 1
year's doctor bills.
Public-domain text, read in full here on John Shaqi.
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