[Public Papers of the Presidents of the United States: WILLIAM J. CLINTON (2000, Book I)]
[April 20, 2000]
[Page 755]
[From the U.S. Government Publishing Office www.gpo.gov]



Statement on the Budget Surplus and Debt Reduction
April 20, 2000

    When I came into office, the budget deficit was a record $290 
billion, confidence in the economy was shaky, and unemployment was too 
high. Seven years of fiscal discipline have turned that situation 
around, creating an era of record budget surpluses.
    Today we received more good news that our economic strategy is 
working and that the budget surplus is growing. The Treasury Department 
released Government financial information showing that the comparable 
budget balance for the first half of this fiscal year improved by more 
than $30 billion from the first half of last year. This keeps us on 
track to pay down a record $300 billion of debt over 3 years.
    In addition, today, for the third time this year, the Treasury 
Department is buying back some of our debt. If we maintain our fiscal 
discipline, we can make America debt-free by 2013 for the first time 
since Andrew Jackson was President. This will keep interest rates lower, 
helping to maintain strong investment and growth while saving money for 
American families.