    [Public Papers of the Presidents of the United States: William J. Clinton (1997, Book II)]
    [July 31, 1997]
    [Page 1030]
    [From the U.S. Government Publishing Office www.gpo.gov]

    Statement on Congressional Action on Balanced Budget Legislation
    July 31, 1997

        The final congressional passage of the balanced budget bill is the
    achievement of a generation and a triumph for every American. This
    budget marks an end to decades of deficits, and just as important, it
    honors our values, investing in the education, health, and futures of
    our people. This budget includes the most significant new investment in
    education in three decades and the largest increase in investment in
    higher education since the GI bill a half century ago. And it means that
    up to 5 million children who lack health insurance will now receive
    quality health care, even as we cut overall Government spending. That's
    the right way to balance the budget.
        I am particularly pleased that our balanced budget passed with the
    overwhelming support of both parties in both Houses of Congress. It
    reflects the common values and common sense of the vital center of
    American politics.
        This balanced budget also will strengthen America by continuing our
    economic strategy. Beginning in 1993, our new economic approach of
    cutting deficits, investing in our people, and expanding exports through
    tough trade agreements has created the conditions for sustained
    prosperity. Today we have learned that the economy grew over the first 6
    months of this year at a 3.5 percent rate, with low inflation and rising
    incomes. Today's passage of the balanced budget will continue that
    strategy and help keep America's economy growing.
        I look forward to the swift passage of the tax cuts in separate
    legislation to complete our balanced budget plan.