    [Public Papers of the Presidents of the United States: William J. Clinton (1997, Book I)]
    [February 7, 1997]
    [Page 132]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on the National Economy
    February 7, 1997

        Today we learned that during the full 4 years of my first term, the
    economy added 11.5 million new jobs--the first time any administration
    has ever created more than 11 million jobs and well above the 8 million
    new jobs I had set as our goal. The combined rate of unemployment and
    inflation was lower than during any other administration since Lyndon
    Johnson was President. And the deficit fell by 63 percent, from $290
    billion in 1992 to $107 billion in 1996. Now we must continue our work
    of balancing the budget while investing in people. The budget I released
    yesterday will balance the budget by 2002, contributing to continued
    strong growth with low inflation. I look forward to working with
    congressional leaders to pass a balanced budget that maintains our
    crucial investments in education and training.