maller government, but a stronger nation. (Applause.) We are moving steadily toward an even stronger America in the 21st century: an economy that offers opportunity, a society rooted in responsibility and a nation that lives as a community. First, Americans in this chamber and across our nation have pursued a new strategy for prosperity: fiscal discipline to cut interest rates and spur growth; investments in education and skills, in science and technology and transportation, to prepare our people for the new economy; new markets for American products and American workers. When I took office, the deficit for 1998 was projected to be $357 billion, and heading higher. This year, our deficit is projected to be $10 billion, and heading lower. (Applause.) For three decades, six Presidents have come before you to warn of the damage deficits pose to our nation. Tonight, I come before you to announce that the federal deficit -- once so incomprehensibly large that it had 11 zeroes -- will be, simply, zero. (Applause.) I will submit to Congress for 1999 the first balanced budget in 30 years. (Applause.) And if we hold fast to fiscal discipline, we may balance the budget this year -- four years ahead of schedule. (Applause.) You can all be proud of that, because turning a sea of red ink into black is no miracle. It is the product of hard work by the American people, and of two visionary actions in Congress -- the courageous vote in 1993 that led to a cut in the deficit of 90 percent -- (applause) -- and the truly historic bipartisan balanced budget agreement passed by this Congress. (Applause.) Here's the really good news: If we maintain our resolve, we will produce balanced budgets as far as the eye can see. We must not go back to unwise spending or untargeted tax cuts that risk reopening the deficit. (Applause.) Last year, together we enacted targeted tax cuts so that the typical m...
