As apt and applicable as the Declaration of Independence is today, we would do well to honor that other historic document drafted in this hall — the … - John F. Kennedy

But the first ingredient, let me emphasize, is the cessation of work on missile sites on Cuba and measures to render such weapons inoperable, under effective international guarantees. The continuations of this threat, or prolonging of this discussion concerning Cuba by linking these problems to the broader questions of European and world security, would surely lead to the peace of the world. For this reason I hope we can quickly agree along the lines outlined in this letter of October 26th.

I repeat: our practical choice is not between a tax-cut deficit and a budgetary surplus. It is between two kinds of deficits: a chronic deficit of inertia, as the unwanted result of inadequate revenues and a restricted economy; or a temporary deficit of transition, resulting from a tax cut designed to boost the economy, increase tax revenues, and achieve--and I believe this can be done--a budget surplus. The first type of deficit is a sign of waste and weakness; the second reflects an investment in the future.

The final and best means of strengthening demand among consumers and business is to reduce the burden on private income and the deterrents to private initiative which are imposed by our present tax system; and this administration pledged itself last summer to an across-the-board, top-to-bottom cut in personal and corporate income taxes to be enacted and become effective in 1963.