U.S. President George Bush announces a significant reduction of nuclear weapons deployed domestically and in European NATO countries, and calls for the Soviet Union to take similar steps

Prime time speech from the oval office outlines the plans for major disarmament along with the Soviet Union, and in some cases, unilaterally. Also outlines what will remain: nuclear and "star wars" capacity. Warns that this disarmament will not bring savings in tax dollars in the short run, that the "peace dividend" is peace itself.