Dick Gephardt in My Life, by Bill Clinton


On Budget & Economy: Opposed bipartisan 1998 balanced budget

Economic growth in the first quarter of 1997 was reported to be 5.6%, which pushed the estimated deficit down to $75 billion, about a quarter of what it was when I took office. On May 2, I announced that, at long last, I had reached a balanced budget agreement with Speaker Gingrich and Senator Lott and the congressional negotiations for both parties. Senator Tom Daschle also announced his support for the agreement. Dick Gephardt did not, but I was hoping he would come around once he had a chance to review it.

I met the Republicans halfway on the amount of Medicare savings. The Republicans accepted a smaller tax cut, the child health insurance program, and the big education increase. We had produced the first balanced budget since 1969, and a good one to boot. Senator Lott and Speaker Gingrich had worked with us in good faith, and Erskine Bowles, with his negotiating skills and common sense, had kept things going at critical moments.

Source: My Life, by Bill Clinton, p.754-755 Jun 21, 2004

The above quotations are from My Life, by Bill Clinton.
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