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Clinton touts higher-than-expected $115 billion budget surplus

September 27, 1999
Web posted at: 10:12 a.m. EDT (1412 GMT)

WASHINGTON (CNN) -- President Clinton Monday touted some good economic news -- a higher than expected $115 billion budget surplus.

"This triple digit surplus is larger than projected, larger than last year's and, in fact, larger than any surplus in the history of the United States," said Clinton.

He pointed out that this surplus comes on the heels of last year's, the first time the country had back-to-back surpluses since 1957.

The president also urged a note of caution for Republicans who might see the larger than expected surplus as a reason to renew their call for a large tax cut, as they did with legislation that called for a 10-year $792 billion tax, vetoed by Clinton.

"I want them to work with me to meet our fundamental priorities," he said. "We can give the American people an honest, credible budget that extends the life of Social Security and Medicare, meets our responsibility in education and other important areas and leaves us free to pay down that (national) debt and be on target to be debt-free in the next 15 years."

"We can do all that and still have an affordable tax cut for the middle class," said Clinton.



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Monday, September 27, 1999

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