This speech is considered by many the great speech of modern republican history. Small government, firm but humble economic policy, inalienable rights, low taxes, low spending, government as a servant not a master, balance budgets. While many GOP politicians parrot those ideals, they practice anything but.
Watching this speech makes you quickly realized how far the GOP has drifted...this, despite invoking the name "Ronald Reagan" so often. Other than a few voices that are largely ignored - such as Ron Paul - most mainstream Republican politician bare little similarity to this man's views.
It is worth your time.