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1、January20,1981SenatorHatfield,Mr.ChiefJustice,Mr.President,VicepresidentBush,VicePresidentMondale,SenatorBaker,SpeakerO'Neill,ReverendMoomaw,andmyfellowcitizens:Toafewofusheretoday,thisisasolemnandmostmomentousoccasion;andyet,inthehistoryofourNation,itisacommo
2、nplaceoccurrence・TheorderlytransferofauthorityascalledforintheConstitutionroutinelytakesplaceasithasforalmosttwocenturiesandfewofusstoptothinkhowuniquewereallyare.Intheeyesofmanyintheworld,thisevery-4-yearceremonyweacceptasnormalisnothinglessthanamiracle.Mr.Pr
3、esident,Iwantourfellowcitizenstoknowhowmuchyoudidtocarryonthistradition.Byyourgraciouscooperationinthetransitionprocess,youhaveshownawatchingworldthatweareaunitedpeoplepledgedtomaintainingapoliticalsystemwhichguaranteesindividuallibertytoagreaterdegreethananyo
4、ther,andIthankyouandyourpeopleforallyourhelpinmaintainingthecontinuitywhichisthebulwarkofourRepublic・Thebusinessofournationgoesforward・TheseUnitedStatesareconfrontedwithaneconomicafflictionofgreatproportions.Wesufferfromthelongestandoneoftheworstsustainedinfla
5、tionsinournationalhistory.Itdistortsoureconomicdecisions,penalizesthrift,andcrushesthestrugglingyoungandthefixed・incomeelderlyalike.Itthreatenstoshatterthelivesofmillionsofourpeople.Idleindustrieshavecastworkersintounemployment,causinghumanmiseryandpersonalind
6、ignity.Thosewhodoworkaredeniedafairreturnfortheirlaborbyataxsystemwhichpenalizessuccessfulachievementandkeepsusfrommaintainingfullproductivity.Butgreatasourtaxburdenis,ithasnotkeptpacewithpublicspending.Fordecades,wehavepileddeficitupondeficit,mortgagingourfut
7、ureandourchildren'sfutureforthetemporaryconvenienceofthepresent.Tocontinuethislongtrendistoguaranteetremendoussocial,cultural,political,andeconomicupheavals.YouandI,asindividuals,can,byborrowing,livebeyondourmeans,butforonlyalimitedperiodoftime.Why,then,should
8、wethinkthatcollectively,asanation,wearenotboundbythatsamelimitation?Wemustacttodayinordertopreservetomorrow.Andlettherebenomisunderstanding—wearegoingtobegintoact,beginningtoday.♦T
