[Weekly Compilation of Presidential Documents Volume 33, Number 22 (Monday, June 2, 1997)]
[Page 782]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Statement on the National Economy

May 27, 1997

    Today's conference board release, along with the University of 
Michigan's release earlier this month, indicate more good news on the 
economy. Today's report shows that Americans are more confident about 
their current and future economic conditions than they have been in 28 
years. With consumer confidence, unemployment, and inflation the best 
they've been in decades, America's economy is more than ever the envy of 
the world.
    Unemployment is at its lowest level in 24 years, economic growth is 
the highest it has been in a decade, and inflation is the lowest since 
John F. Kennedy was President. We have already cut the deficit 77 
percent since 1992, helping spark this remarkable period of strong 
growth and low inflation. The bipartisan budget agreement--which will 
balance the budget for the first time since 1969--will help to continue 
this solid economic performance.