[Weekly Compilation of Presidential Documents Volume 33, Number 23 (Monday, June 9, 1997)]
[Pages 839-840]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Statement on the National Economy

June 6, 1997

    Four years ago, we put in place an economic strategy that has helped 
give America the strongest economy in the world. That strategy had three 
critical components: cutting the budget deficit; making smart 
investments in education, the environment, and our children; and opening 
new markets through tough trade agreements.
    Today we received one more piece of solid evidence that this invest-
and-grow strategy is working. We learned that our economy added 138,000 
new jobs and that unemployment dropped to 4.8 percent, the lowest in 24 
years. The American economy has now added 12.3 million new jobs since I 
took office, and unemployment has now been below

[[Page 840]]

6 percent for almost 3 years. America's economy is the strongest it has 
been in a generation.
    Now we must press forward with the economic strategy that we adopted 
in 1993 and that has helped create the conditions for sustained growth. 
The balanced budget agreement I reached with leaders of Congress 
embodies our strategy. It is a balanced budget that is in balance with 
our values, and yesterday's strong endorsement of it by the House and 
Senate ratifies that economic strategy. This bipartisan action is a 
hopeful sign that both parties can work together to keep our economy 
growing. I look forward to working with leaders of both parties to write 
our balanced budget plan into law.
    The progress of the balanced budget shows what America can 
accomplish when we reach across party lines and work together. 
Unfortunately, the Republican leaders of Congress have chosen the path 
of partisanship and confrontation in their actions on the disaster 
relief bill. Because congressional leaders chose to attach unacceptable 
political items to vital disaster relief legislation, I have no choice 
but to veto that measure. Once again, I call on the Congress to honor 
the sacrifice and aid the recovery of the families in the Dakotas, 
Minnesota, and across the country by passing straightforward disaster 
relief legislation and sending it to my desk.