Found on David Frum's site:
We should take no comfort from the fact that the level of unemployment in this transition from a wartime to a peacetime economy is lower than in any peacetime year of the sixties.
This is not good enough for the man who is unemployed in the seventies. We must do better for workers in peacetime and we will do better.
To achieve this, I will submit an expansionary budget this year--one that will help stimulate the economy and thereby open up new job opportunities for millions of Americans.
It will be a full employment budget, a budget designed to be in balance if the economy were operating at its peak potential. By spending as if we were at full employment, we will help to bring about full employment.
I ask the Congress to accept these expansionary policies--to accept the concept of a full employment budget. ...
With the stimulus and the discipline of a full employment budget, with the commitment of the independent Federal Reserve System to provide fully for the monetary needs of a growing economy, and with a much greater effort on the part of labor and management to make their wage and price decisions in the light of the national interest and their own self-interest--then for the worker, the farmer, the consumer, for Americans everywhere we shall gain the goal of a new prosperity: more jobs, more income, more profits, without inflation and without war.
Unemployment was 6% in 1971.
Isn't it horrible that the craziest conservatives of the past were more liberal than the liberals of today?