[Weekly Compilation of Presidential Documents Volume 36, Number 27 (Monday, July 10, 2000)]
[Page 1603]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Statement on the National Economy

July 7, 2000

    Today we have more evidence that our economic strategy is working. 
The American economy has created more than 22 million jobs since the 
beginning of 1993. More than 20 million of these jobs are in the private 
sector, giving us the highest share of private-sector job creation since 
President Truman was in office. The benefits of job creation have been 
enjoyed across the American economy, with the unemployment rates for 
African-Americans and Hispanics falling to record lows this year.
    This good news is another reminder that America should not reverse 
course with irresponsible tax cuts that risk our fiscal discipline and 
jeopardize our continued economic strength. Let's ensure that the 
American people can continue to break records by maintaining fiscal 
discipline, paying off the debt by 2012, keeping Social Security and 
Medicare strong for the next generation, and investing in education and 
other priorities.