[Weekly Compilation of Presidential Documents Volume 33, Number 6 (Monday, February 10, 1997)]
[Page 159]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Statement on the National Economy and the Fiscal Year 1998 Budget

February 7, 1997

    Today we learned that during the full 4 years of my first term, the 
economy added 11.5 million new jobs--the first time any administration 
has ever created more than 11 million jobs and well above the 8 million 
new jobs I had set as our goal. The combined rate of unemployment and 
inflation was lower than during any other administration since Lyndon 
Johnson was President. And the deficit fell by 63 percent, from $290 
billion in 1992 to $107 billion in 1996. Now we must continue our work 
of balancing the budget while investing in people. The budget I released 
yesterday will balance the budget by 2002, contributing to continued 
strong growth with low inflation. I look forward to working with 
congressional leaders to pass a balanced budget that maintains our 
crucial investments in education and training.