Statement of the Vice President of the United States, Senator Kennedy's Platform, San Antonio, TX
Mr. Kennedy is clearly feeling the force of the demand that he answer this question about his platform and promises: Where is the money coming from?
The latest maneuver is to have Kennedy spokesmen, most recently Governor Hodges of North Carolina, talk about budget savings that would be made to help offset the enormous new spending he is proposing.
First, we are told Mr. Kennedy is going to save $500 million a year by his farm program.
I would like him to tell us just what farm programs he is going to cut down on or cut out? What is he going to take away from the farmers?
Or is he going to finance his fantastic farm program by raising the price of food 25 percent in the stores, as the experts say he will?
Second, we are told he is going to save $1.5 to $2 billion in the Department of Defense.
I would like Mr. Kennedy to tell us just how he proposes to do this. Does he claim that he knows more about organizing the Defense Department than does President Eisenhower? Just what weapons programs is he going to discontinue?
Third, we are told that he is going to save $2 billion in interest on the national debt by driving down interest rates.
I would like to make this crystal clear. To drive down the interest rate enough to save $2 billion in interest on the Federal debt would mean such expansion of the money supply as to produce violent inflation. That would drive up the cost of everything the Government buys by more than it would save in interest. Some saving.
All this talk about future savings by the Kennedy people to pay for their wild sending just doesn't begin to make sense.
I challenge him to document his line - or drop it.
Richard Nixon, Statement of the Vice President of the United States, Senator Kennedy's Platform, San Antonio, TX Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/273711