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THE WHITE HOUSE

Office of the Press Secretary

For Immediate Release May 27, 1997

STATEMENT BY THE PRESIDENT

Today's Conference Board release, along with the University of Michigan's release earlier this month, indicate more good news on the economy. Today's report shows that Americans are more confident about their current and future economic conditions than they have been in 28 years. With consumer confidence, unemployment, and inflation the best they've been in decades, America's economy is more than ever the envy of the world.

Unemployment is at its lowest level in 24 years, economic growth is the highest it has been in a decade, and inflation is the lowest since John F. Kennedy was President. We have already cut the deficit 77% since 1992, helping spark this remarkable period of strong growth and low inflation. The bipartisan budget agreement --which will balance the budget for the first time since 1969 --will help to continue this solid economic performance.

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