[Weekly Compilation of Presidential Documents Volume 33, Number 18 (Monday, May 5, 1997)]
[Pages 616-617]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
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.

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