President Reagan Sees Economic Turnaround

Washington--President Reagan said last night that despite a "pounding economic hangover" that has left 11 million Americans unemployed the nation is "recovery bound and the world now sit."

He had billed his televised speech as a non-partisan report on the economy, then concluded it with the 1982 Republican campaign theme, urging. "We can do it, my fellow Americans by staying the course."

The President said his economic programs will bring a resurgence "built to last" be cause it will create new jobs without rekindling inflation.

"This time we are going to keep inflation. Interest rates and government spending taxing and borrowing down and get Americans back on the job." Reagan said.

In the Democratic response. Sen Donald St. Riegle of Michigan said. "The truth is that this Administration has created two courses one of them a very last economic track for a few, the other tilled with potholes and roadblocks for the rest of us."

The Democrats had protested the decision by two networks to grant Reagan free airtime just three weeks before the November 2 electrons insisting that Reagan was merely using television to campaign for GOP candidates blistered by the unemployment issue.

The speech was added to Reagan's schedule alter unemployment rose to 10 1 percent on September NBC and CBS carried of live. ABC did not saying it could adequately cover Reagan's speech and the Democratic response in its regular news shows.

"Unemployment is the problem uppermost on many peoples minds." Reagan said.

"Getting Americans back to work is an urgent priority for all of us, and especially for this Administration."

The pounding economic hangover America is suffering from didn't come about over night and there is no single, instant cure" Reagan said He said. "there's plenty of blame to go around." for the economic morass, but claimed none for himself or his economic program.

In his response Riegle--whose state suffers from a 16 percent jobless rate--said, "The course needs to be changed." and the Democrats know how.

He said Democrats would seek legislation to protect 'American industries from unfair competition from abroad, change the credit system to reduce interest rates, reduce defense spending and restore cuts in Social Security benefits.

The President stuck to his Reaganomics. He said his economic program battling inflation, interest rates, the growth in government spending and taxation was a necessary piclude to bringing down unemployment, despite pressure to apply a "quick fix" to case temporality joblessness.