The only factors that actually prevented the first quarter from slipping into negative territory ... were the high starting point heading into it and the pre-war spending and inventory building we saw in January. As far as the second quarter is concerned, we are clearly losing momentum as we approach it.

The poet called Miss Liberty's torch 'the lamp beside the golden door.' Well, that was the entrance to America, and it still is. And now you really know why we're here tonight. The glistening hope of that lamp is still ours. Every promise, every opportunity, is still golden in this land. And through that golden door our children can walk into tomorrow with the knowledge that no one can be denied the promise that is America. Her heart is full; her torch is still golden, her future bright. She has arms big enough to comfort and strong enough to support, for the strength in her arms is the strength of her people. She will carry on in the '80s unafraid, unashamed, and unsurpassed. In this springtime of hope, some lights seem eternal; America's is.

The point is that mounting layoffs and weak consumer confidence will keep consumer spending fairly weak.

The people who daily serve Winston-Salem, day in and day out in public service - and their families who suffer the risk of always worrying - you are the heroes.

The people who were low-level Baathists need to know they have a part in the future of their country,