Bill Clinton: “Good morning. A strong and growing economy is the best way to offer opportunity to every American who is willing to work…”

“Good morning. A strong and growing economy is the best way to offer opportunity to every American who is willing to work for it. Today we received fresh news that our economy grew at a strong 4.2 percent rate in the last quarter. This robust growth, 4.2 percent, is touching the lives of all our people with 10 million new jobs, low unemployment, and inflation in check. This is good news for America and more evidence that our economy continues to surge ahead and that our economic strategy is working. Four years ago today, the economy was drifting, unemployment was nearly 8 percent, job growth was weak, the deficit was at an all-time high, great American industries were falling behind. For the last 3 years, we have had in place a comprehensive plan to put our economic house in order and to create opportunity for the American people. My economic team, which has joined me here today, has worked day and night to put this strategy in place over stiff partisan opposition who said our plan wouldn't work and would actually make things worse. But today's good news shows that the plan we put in place is the right plan to move us forward into the 21st century. This strong growth is reflected in other ways as well. American industry is on the rebound. We have 900,000 new construction jobs; once again we lead the world in autos and semiconductors; 4.4 million people have become new homeowners; and 10 million Americans have refinanced their existing home loans to get lower mortgage rates. We now have a record number of women-owned businesses; exports are at an all-time high. We learned this week that consumer confidence is at its highest level in 6 years, and real wages, which had fallen for a decade, are on the rise again. The deficit has been cut by more than half so that it is now the smallest since 1981. This plan has been based on investing in our people, developing new technologies, selling our products overseas, and getting the deficit down to get interest rates down--growth without inflation. Without fiscal responsibility, this dramatic move forward could not have been achieved--strong growth, low inflation, new jobs, higher wages, the strongest American economy in a generation. But even as we celebrate this good economic news, we must remember that there is more to do to make sure all Americans can benefit from this growing economy. Yesterday we took a step forward by giving the American people a welfare reform bill. Though not perfect, it offers the best chance we've had to move people from dependence to independence, from welfare to work, giving them a real opportunity to succeed at home and at work. I'm pleased that Congress has made progress toward the passage of other critical measures which also will give our people the capacity to make the most of the growing economy. An increase in the minimum wage will honor work and family. The small-business provisions in that bill will help small businesses, the engine of economic job growth, to invest more in their businesses and will help small-business owners and their employees to take out and maintain retirement plans over their careers. The Kassebaum-Kennedy bill will give millions of Americans access to health care. I must say in passing, I was disappointed that the mental health provision was taken out, and I certainly hope we can get it as soon as possible in the future. It should remain a high priority. These two bills, when they pass, will also make a real difference to millions and millions of Americans. And I call upon Congress to finish the work on both these bills before leaving for the August recess. Again, let me say that this economic news shows that our strategy is working, the economy is growing, our Nation is moving in the right direction. This is not the time to make dramatic changes that reverse our discipline on the deficit. It is the time to bear down and improve upon the strategy we have been following for 3\1/2\ years that has reversed the previous course and brought us such good results. We cannot turn our backs on that progress. The American people do not want to go back to where we were 4 years ago. This plan is working, and we have to press forward. Taxes”