Ronald Reagan stated in his October 27, 1964, speech that "no nation in history has ever survived a tax burden that reached a third of its national
income." But he pointed out that "today," that is, in 1964, "37 cents out of every dollar earned in this country is the tax collector's share, and yet our
government continues to spend 17 million dollars a day more than the government takes in." As a sign of the federal government's dysfunction, he
stated that "we haven't balanced our budget 28 out of the last 34 years," but that the federal government has nevertheless "raised our debt limit thre-
times in the last twelve months, and now our national debt is one and a half times bigger than all the combined debts of all the nations of the world.
O True
O False