THE WHITE HOUSE
Office of the Press Secretary
STATEMENT BY THE PRESS SECRETARY
The President today notified the Congress of a technical adjustment in the Fiscal Year 1995 "maximum deficit amount" under the Budget Enforcement Act. The adjustment does not affect the actual deficit.
The adjustment prevents technical and economic reestimates from triggering a budget sequester. It was made automatically in Fiscal Years 1991-1993. The law gives the President the authority to make the adjustment in Fiscal Years 1994 and 1995. Last year, President Clinton made the adjustment for Fiscal Year 1994.
Unlike the previous four years, the Fiscal Year 1995 adjustment is downward.