America did not invent human rights. In a very real sense… human rights invented America. - Jimmy Carter

Well, as you know, we are not introducing new weapons into the Middle East. F-15's are already being delivered into the Middle East. Also, I have pledged myself to cut down on the volume of weapons each succeeding year as long as I'm in office, barring some unpredictable, worldwide military outbreak. This year there will be less weapons sales than last year, and this will include, of course, the Middle East. I think it's very good for nations to turn to us for their security needs, instead of having to turn to the Soviet Union as they have in the past. I'm talking specifically about Egypt. And you have to remember that Saudi Arabia has never had any active aggression against Israel. Saudi Arabia is our ally and friend. Egypt is our ally and friend. Israel is our ally and friend. To maintain security in that region is important. Egypt has other threats against its security. The Soviets are shipping massive quantities of weapons into the Middle Eastern area now, into the Red Sea area—Ethiopia, into Syria, Iraq, Libya-and we cannot abandon our own friends. So, I don't think that it's wrong at all to ensure stability or the right to defend themselves in a region with arms sales. We are continuing multinational negotiations with other sellers of weapons to get them to join with us in a constant step-by-step, year-by-year reduction in total arms sales. If they do, I think the world will be much more peaceful in the future.

Now, this new law will obviously save people money, and it will also create jobs because consumers will have more of their paycheck to keep and to spend for goods that we produce. It's also going to save a lot of headaches next April, because 75 percent of all taxpayers will be able to take a standard deduction and compute their taxes on one side of one sheet of paper in one step. So, the multiple goals of economic strategy reinforce one another, they work together. The strategy is designed to cut unemployment to below 5 percent by 1981; to work with business and labor, together, to knock 2 percentage points off the inflation rate by the end of 1979; and by the higher revenues that growing employment will bring, to achieve a balanced budget in fiscal year 1981. Again, I want to stress two points about our economic policies because it's important for you and all Americans to understand. One point is that we aim to balance the budget in 1981 in a strong and healthy economy, with the revenues that come into the Government when people are employed and our industrial capacity is being used. It's not legitimate spending on human needs that causes Federal deficits. It's principally the inadequate revenues that come in from a sluggish economy that create those deficits. Understanding that is a very good move in the right direction. Cutting back programs that really help people is not the way to balance the budget. But even with adequate revenues, we'll still have to make some hard choices about how we spend the taxpayers' money. We can't afford to do everything. The other important point I want to make about the economy is that I'm inalterably opposed to fighting inflation by keeping unemployment high and factories idle. This has been done too much in the past. That approach has been proved in the last 8 years to be economically ineffective and morally bankrupt. If the economy should falter during the years ahead, I will not hesitate to propose the economic and budgetary measures needed to get the economy going again. And you can depend on that.

Many of us in Government, when we see a 6- or 7-percent unemployment rate, are quite pleased if a year ago it was $ or 9 percent. And we tend to forget the human suffering and the challenge and the loss of self-respect and a deep fear about the future that comes with someone who is, as you say, 56 years old, who has worked all your life in one industry, and now is unemployed. I also have a 10-year-old daughter, as you know. She was 10 this week. So, I feel a kinship with you. I can point this out to you to begin with: You are one of the fortunate unemployed, in that the steel industry is a special impacted industry and there are special assistance programs for you. But that's not the way you want to live. You want to earn your own living by working and not get even the assistance that comes from the impacted area. I had a meeting this past week with executives, your own labor leaders, the Members of Congress who represent the steel industry, who came to the Oval Office, to the White House, to meet about what we are going to do concerning the steel industry itself. One of the problems, obviously, is a worldwide semirecession. The growth rate in our economy, the construction of buildings, the construction of homes, the construction of machinery is not growing as rapidly as it has been sometimes in the past, and the order for steel from European, Japanese, and American sources is just down. I think that we will see in our own Nation an increasing demand for steel. Our housing construction now is the highest it's been in many years. Over 2 million housing units per year is the present rate. I think, with passage of a new energy bill--although you're not concerned with energy right now; you're concerned with a job--will provide increasing demands for steel.