    [Public Papers of the Presidents of the United States: William J. Clinton (1997, Book I)]
    [April 30, 1997]
    [Page 514]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on Economic Expansion and Job Creation
    April 30, 1997

        Today we have received positive news about the Nation's economy--
    more strong growth with moderate inflation. In the first quarter of this
    year, the economy grew 5.6 percent on an annualized basis--the highest
    in a decade. That means more jobs and better wages for American workers
    and stronger profits for businesses--both large and small. Our sound
    fiscal policies, together with the hard work of the American people,
    have sparked a remarkable period of economic expansion and job creation.
    It is imperative that we pass a bipartisan balanced budget agreement to
    continue this solid economic progress.
        Just more than 4 years ago, we inherited a deficit that was nearly
    $300 billion, and we have cut it by 63 percent already. While it is
    still too early to know for certain, our economic policies and this
    year's healthy growth may help us cut the deficit for the 5th straight
    year--for the first time in 50 years. Now, it's time to finish the job
    and balance the budget.