September 30, 1998


By balancing the budget, we have done more than renew our economy; we have sparked new confidence and renewed faith that progressive government can act in the national interest.

President Bill Clinton
September 30, 1998

Today, at a White House event, President Clinton announces that the federal budget, which had run at a deficit for 29 years, has been balanced, and will run a surplus of roughly $70 billion for the fiscal year that ends today.

Closing The Book On A Generation Of Deficits. In 1992, the budget deficit was $290 billion. When elected, President Clinton put in place a three-part economic strategy to: (1) cut the deficit to lower interest rates and spur business investment; (2) make critical investments in our people, from health care to education; and (3) open foreign markets to American products so that America would be prepared to meet the challenges of the 21st Century. Today, America's fiscal house is in order, after three decades of budget deficits, today marks the final day of fiscal year 1998 -- the first year the United States government will record a budget surplus since 1969. Under President Clinton:

Maintaining Strong Economic Growth And Fiscal Discipline. Achieving the first budget surplus in a generation is an accomplishment all Americans can be proud of; however, to ensure that opportunity is extended to all, and that the economic policies that have led to this remarkable expansion continue, we must maintain our fiscal discipline:

Budget Deficits, 1969-1998

September 30, 1998

Budget Deficits 1969-1998

President and First Lady | Vice President and Mrs. Gore
Record of Progress | The Briefing Room
Gateway to Government | Contacting the White House | White House for Kids
White House History | White House Tours | Help
Privacy Statement


Site Map

Graphic Version

T H E   W H I T E   H O U S E