    [Public Papers of the Presidents of the United States: William J. Clinton (1996, Book I)]
    [February 8, 1996]
    [Page 190]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on Signing Temporary Debt Extension Legislation
    February 8, 1996

        A nation's financial integrity is a sacred trust. To preserve our
    creditworthiness, we must honor all obligations of the United States.
    Through the Civil War, two World Wars, and the Depression, America has
    paid its bill and kept its word.
        Last week, congressional leaders acknowledged the importance of
    protecting our Nation's creditworthiness. They made a commitment in a
    letter to pass a mutually acceptable debt limit increase by February
    29th to ensure that the United States does not default on our
    obligations.
        Congress also took a constructive step by passing H.R. 2924 which I
    am signing today. This law provides temporary debt relief that allows us
    to meet all of our obligations and to pay Social Security and other
    benefits, military active duty pay, and other commitments at the
    beginning of March. Congress has promised to secure a mutually
    acceptable debt limit increase. Today, I call on Congress to pass a
    straightforward, long-term debt limit increase immediately so that we
    can get on with our shared goal of balancing the budget without the
    threat of default hanging over our Nation.

    Note: H.R. 2924, approved February 8, was assigned Public Law No. 104-
    103.