Mondale was not telling the truth in 1984 accepting the Democrat's nomination for U.S. President, and Gov. Mark Dayton is NOT telling the truth about America's future in 2012.

Here's what Walter Mondale said in 1984, when he lost 49 states to Ronald Reagan:

If this administration has a plan for a better future, they're keeping it a secret.

Here is the truth about the future: We are living on borrowed money and borrowed time. These deficits hike interest rates, clobber exports, stunt investment, kill jobs, undermine growth, cheat our kids, and shrink our future.

Whoever is inaugurated in January, the American people will have to pay Mr. Reagan's bills. The budget will be squeezed. Taxes will go up. And anyone who says they won't is not telling the truth to the American people.

I mean business. By the end of my first term, I will reduce the Reagan budget deficit by two-thirds.

Let's tell the truth. It must be done, it must be done. Mr. Reagan will raise taxes, and so will I. He won't tell you. I just did.

There's another difference. When he raises taxes, it won't be done fairly. He will sock it to average-income families again, and leave his rich friends alone. And I won't stand for it. And neither will you and neither will the American people.

To the corporations and freeloaders who play the loopholes or pay no taxes, my message is: Your free ride is over.

To the Congress, my message is: We must cut spending and pay as we go. If you don't hold the line, I will: That's what the veto is for.

Now that's my plan to cut the deficit. Mr. Reagan is keeping his plan secret until after the election. That's not leadership; that's salesmanship. And I think the American people know the difference.

I challenge tonight, I challenge Mr. Reagan to put his plan on the table next to mine - and then let's debate it on national television before the American people. Americans want the truth about the future - not after the election.

When the American economy leads the world, the jobs are here, the prosperity is here for our children. But that's not what's happening today. This is the worst trade year in American history. Three million of our best jobs have gone overseas.

Mr. Reagan has done nothing about it. They have no plan to get our competitive edge back. But we do. We will cut the deficits, reduce interest rates, make our exports affordable, and make America number one again in the world economy.

We will launch a renaissance in education, in science, and learning. A mind is a terrible thing to waste. And this must be the best-educated, best-trained generation in American history. And I will lead our nation forward to the best system that this nation has ever seen. We must do it, we must do it.

It is time for America to have a season of excellence. Parents must turn off that television; students must do their homework; teachers must teach; and America compete. We'll be number one if we follow those rules; let's get with it in America again.

To big companies that send our jobs overseas, my message is: We need those jobs here at home. And our country won't help your business - unless your business helps our country.

To countries that close their markets to us, my message is: We will not be pushed around any more. We will have a president who stands up for American workers and American businesses and American farmers in international trade.

When I grew up, and people asked us to imagine the future we were full of dreams. But a few months ago, when I visited a grade school class in Texas and asked the children to imagine the future, they talked to me about nuclear war.

As we've neared the election, this administration has begun to talk about a safer world. But there's a big difference: As president, I will work for peace from my first day in office - and not from my first day campaigning for re-election.

As president, I will reassert American values. I'll press for human rights in Central America, and for the removal of all foreign forces from the region. And in my first hundred days, I will stop the illegal war in Nicaragua.

We know the deep differences with the Soviets. And America condemns their repression of dissidents and Jews; their suppression of Solidarity; their invasion of Afghanistan; their meddling around the world.

But the truth is that between us, we have the capacity to destroy the planet. Every president since the bomb went off understood that and talked with the Soviets and negotiated arms control. Why has this administration failed? Why haven't they tried? Why can't they understand the cry of Americans and human beings for sense and sanity in control of these God awful weapons? Why, why?

Why can't we meet in summit conferences with the Soviet Union at least once a year? Why can't we reach agreements to save this earth? The truth is, we can.

President Kennedy was right when he said: We must never negotiate out of fear. But we must never fear to negotiate. For the sake of civilization we must negotiate a mutual, verifiable nuclear freeze before those weapons destroy us all.