I know, of course, being President, that government actions and legislation can be very important. That's why I've worked hard to put my campaign promises into law — and I have to admit, with just mixed success. But after listening to the American people I have been reminded again that all the legislation in the world can't fix what's wrong with America. So, I want to speak to you first tonight about a subject even more serious than energy or inflation. I want to talk to you right now about a fundamental threat to American democracy. I do not mean our political and civil liberties. They will endure. And I do not refer to the outward strength of America, a nation that is at peace tonight everywhere in the world, with unmatched economic power and military might. The threat is nearly invisible in ordinary ways. It is a crisis of confidence. It is a crisis that strikes at the very heart and soul and spirit of our national will. We can see this crisis in the growing doubt about the meaning of our own lives and in the loss of a unity of purpose for our Nation. The erosion of our confidence in the future is threatening to destroy the social and the political fabric of America. The confidence that we have always had as a people is not simply some romantic dream or a proverb in a dusty book that we read just on the Fourth of July. It is the idea which founded our Nation and has guided our development as a people. Confidence in the future has supported everything else — public institutions and private enterprise, our own families, and the very Constitution of the United States. Confidence has defined our course and has served as a link between generations. We've always believed in something called progress. We've always had a faith that the days of our children would be better than our own. Our people are losing that faith, not only in government itself but in the ability as citizens to serve as the ultimate rulers and shapers of our democracy. As a people we know our past and we are proud of it. Our progress has been part of the living history of America, even the world. We always believed that we were part of a great movement of humanity itself called democracy, involved in the search for freedom, and that belief has always strengthened us in our purpose. But just as we are losing our confidence in the future, we are also beginning to close the door on our past.

We go forward with complete confidence in the eventual triumph of freedom. Not because history runs on the wheels of inevitability; it is human choices that move events. Not because we consider ourselves a chosen nation; God moves and chooses as he wills. We have confidence because freedom is the permanent hope of mankind, the hunger in dark places, the longing of the soul. When our Founders declared a new order of the ages, when soldiers died in wave upon wave for a union based on liberty, when citizens marched in peaceful outrage under the banner "Freedom Now" — they were acting on an ancient hope that is meant to be fulfilled.

In a nation that was proud of hard work, strong families, close-knit communities, and our faith in God, too many of us now tend to worship self-indulgence and consumption. Human identity is no longer defined by what one does, but by what one owns. But we've discovered that owning things and consuming things does not satisfy our longing for meaning. We've learned that piling up material goods cannot fill the emptiness of lives which have no confidence or purpose. The symptoms of this crisis of the American spirit are all around us. For the first time in the history of our country a majority of our people believe that the next 5 years will be worse than the past 5 years. Two-thirds of our people do not even vote. The productivity of American workers is actually dropping, and the willingness of Americans to save for the future has fallen below that of all other people in the Western world. As you know, there is a growing disrespect for government and for churches and for schools, the news media, and other institutions. This is not a message of happiness or reassurance, but it is the truth and it is a warning. These changes did not happen overnight. They've come upon us gradually over the last generation, years that were filled with shocks and tragedy. We were sure that ours was a nation of the ballot, not the bullet, until the murders of John Kennedy and Robert Kennedy and Martin Luther King, Jr. We were taught that our armies were always invincible and our causes were always just, only to suffer the agony of Vietnam. We respected the Presidency as a place of honor until the shock of Watergate.

One thing I miss is the time when America had big dreams about the future. Now it seems like nobody has big hopes for the future. We all seem to think that it’s going to be just like it is now, only worse.

My faith in the future rests squarely on the belief that man, if he doesn't first destroy himself, will find new answers in the universe, new technologies, new disciplines, which will contribute to a vastly different and better world in the twenty-first century. Recalling what has happened in my short lifetime in the fields of communication and transportation and the life sciences, I marvel at the pessimists who tell us that we have reached the end of our productive capacity, who project a future of primarily dividing up what we now have and making do with less. To my mind the single essential element on which all discoveries will be dependent is human freedom.

Having faith in the future starts with building confidence in one's self, being honest with one's self, and having the courage to live one's life, not perfectly, but authentically. Each one of us matters. Our choices matter. Our thoughts, words and deeds matter. Live each day with joy, and embrace the opportunities that will enable you and your community to grow and blossom.

In recent decades, public confidence in our institutions has declined. Our governing class has often been paralyzed in the face of obvious and pressing needs. The American dream of upward mobility seems out of reach for some who feel left behind in a changing economy. Discontent deepened and sharpened partisan conflicts. Bigotry seems emboldened. Our politics seems more vulnerable to conspiracy theories and outright fabrication.

Our deep spiritual confidence that this nation will survive the perils of today — which may well be with us for decades to come — compels us to invest in our nation's future, to consider and meet our obligations to our children and the numberless generations that will follow.

This faith can give us courage to face the uncertainties of the future. It will give our tired feet new strength as we continue our forward stride toward the city of freedom. When our days become dreary with low-hovering clouds and our nights become darker than a thousand midnights, we will know that we are living in the creative turmoil of a genuine civilization struggling to be born.

Ours is not only a fortunate people, but a very commonsensical people, with vision high, but their feet on the earth, with belief in themselves and faith in God. Whether enemies threaten from without or menaces arise from within, there is some indefinable voice saying, Have confidence in the Republic. America will go on. Here is the sample of liberty no storms may shake. Here are the altars of freedom no factions shall destroy. It was American in conception, American in its building. It shall be American in the fulfillment. Factional once, we are all American now. And we mean to be all Americans to all the world.

May we have the courage to face the eventual doom of our civilization as we have the courage to face the certainty of our personal doom. The simple faith in progress is not a conviction belonging to strength, but one belong to acquiescence and hence to weakness.

I have a foreboding of an America in my children's or grandchildren's time -- when the United States is a service and information economy; when nearly all the manufacturing industries have slipped away to other countries; when awesome technological powers are in the hands of a very few, and no one representing the public interest can even grasp the issues; when the people have lost the ability to set their own agendas or knowledgeably question those in authority; when, clutching our crystals and nervously consulting our horoscopes, our critical faculties in decline, unable to distinguish between what feels good and what's true, we slide, almost without noticing, back into superstition and darkness.

Through much of the last century, America's faith in freedom and democracy was a rock in a raging sea. Now it is a seed upon the wind, taking root in many nations. Our democratic faith is more than the creed of our country, it is the inborn hope of our humanity, an ideal we carry but do not own, a trust we bear and pass along. And even after nearly 225 years, we have a long way yet to travel.

The illusion that we understand the past fosters overconfidence in our ability to predict the future.