[Public Papers of the Presidents of the United States: WILLIAM J. CLINTON (2000, Book I)]
[January 31, 2000]
[Page 161]
[From the U.S. Government Publishing Office www.gpo.gov]



Statement on Debt Reduction
January 31, 2000

    Today we received further evidence that our economic strategy of 
fiscal discipline is working. By making the tough choices necessary to 
turn record deficits into record surpluses, we are now in a position to 
start paying down the debt. According to the latest numbers from the 
Department of the Treasury, we will pay down $152 billion in debt in the 
3 months from April to June--the largest debt paydown in our Nation's 
history. By the end of this fiscal year, we will have repaid 
approximately $300 billion in debt. If we continue on this path of 
fiscal discipline, we can pay off our national debt for the first time 
since Andrew Jackson was President. This will keep interest rates low 
and investment high and lead to savings on everything from mortgages to 
student loans for working families across America.