    [Public Papers of the Presidents of the United States: William J. Clinton (1997, Book I)]
    [May 27, 1997]
    [Page 659]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on the National Economy
    May 27, 1997

        Today's Conference Board release, along with the University of
    Michigan's release earlier this month, indicate more good news on the
    economy. Today's report shows that Americans are more confident about
    their current and future economic conditions than they have been in 28
    years. With consumer confidence, unemployment, and inflation the best
    they've been in decades, America's economy is more than ever the envy of
    the world.
        Unemployment is at its lowest level in 24 years, economic growth is
    the highest it has been in a decade, and inflation is the lowest since
    John F. Kennedy was President. We have already cut the deficit 77
    percent since 1992, helping spark this remarkable period of strong
    growth and low inflation. The bipartisan budget agreement--which will
    balance the budget for the first time since 1969--will help to continue
    this solid economic performance.