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The White House

Office of the Press Secretary

For Immediate Release June 24, 1993

Statement by the President

Today's announcement by the FDIC is another tangible benefit brought on by the progress of our Deficit Reduction Plan and the lower interest rates it has produced. Fewer bank failures means more and cheaper bank loans to America's businesses and communities. It means billions of dollars more for new jobs, new businesses, and helping families buy new homes. It shows once again how critically important it is for Congress to "lock in" the benefits of lower interest rates and deficit reduction by approving the Clinton economic plan.

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