Good morning, everybody. Two days ago I said that my concern about inflation, my determination to reduce wasteful Government spending would compel me to veto the public works appropriations bill. In just a moment I will sign this message to the Congress and thereby veto the bill.
This has not been an easy decision for me to make. It's something I do not enjoy. But I have a deep commitment to controlling unnecessary spending and also controlling inflation. And I will continue this process, no matter how unpleasant it is, as long as the Congress sends me unacceptable legislation which is not compatible with fiscal responsibility.
As I said Tuesday, there has never been a question of the need to develop our energy and water resources. The question is one of fiscal responsibility, equity, or fairness in the allocation of scarce Government funding for worthwhile projects and restraint in overall spending.
I urge each Member of Congress to support my veto and to work with me immediately to develop a responsible bill that can be passed this year, one that would give our Nation the energy and water resources that we actually need at a cost that we can afford.
[At this point, the President signed the veto message.]
Thank you very much.