Today we take a historic step in reducing the size of Federal Government and providing for a balanced budget in 5 years. We are building a path to the future that restores both hope and opportunity for all Americans. Today and for the future we are dramatically changing the fiscal direction of our country from a path of out of control growth of Government to a path of sustained expansion of the economy and job creation. Achieving a balanced budget will provide lower interest rates, higher productivity, improved purchasing power for all Americans, more exports and accelerated long term-growth. It will also, we believe, revive the possibility once again for the American dream. Americans can once again look toward their children having the chance to do better than they. Our balanced budget is about more than just accounting and tidy bookkeeping. Budget deficits sap private investment, they drive up interest rates and they provide that the service on the national debt is a cost to the average taxpayer of $800 in 1 year in taxes.
Neal Dunn: “Today we take a historic step in reducing the size of Federal Government and providing for a balanced budget in 5 years.…”
On the recordJuly 30, 1997
Source
govinfo.govEditor's note · Context
Discussing the importance of a balanced budget and its impact on the economy.
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