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THE WHITE HOUSE

Office of the Press Secretary


For Immediate Release October 27, 1999

THE LARGEST BUDGET SURPLUS IN HISTORY AND THE LARGEST DEBT PAY

                           DOWN IN HISTORY                            
                           October 27, 1999                           

Today, the Office of Management and Budget and the Department of the Treasury Announced the Largest Budget Surplus In History and the Largest Pay Down of Debt in History. In 1993, President Clinton put in place a three-part economic strategy of fiscal discipline, investing in people, and opening markets abroad. The latest data provide even more evidence that this strategy is working:

The Largest Surplus Ever

LARGEST DEBT REDUCTION EVER

Spending Restraint Helped Usher in an Era of Surpluses

What Fiscal Discipline Means For America

Under the President's Framework to Strengthen Social Security and Medicare, the Debt Held by the Public Is Projected to be Eliminated by 2015.