Statement on the Supreme Court Decision on the Line Item Veto

I am deeply disappointed with today's Supreme Court decision striking down the line item veto. The decision is a defeat for all Americans—it deprives the President of a valuable tool for eliminating waste in the Federal budget and for enlivening the public debate over how to make the best use of public funds.

By permitting the President to cancel discretionary spending, new entitlement authority, and certain types of tax provisions that benefit special interests at the expense of the public interest, the line item veto would enable Presidents to ensure that the Federal Government is spending public resources as wisely as possible. For 5 1/2 years, I have worked hard to renew our economy by putting America's fiscal house in order. In 1993 the budget deficit was projected to be $290 billion; today, we have balanced the budget, and it is running a surplus. Continued fiscal responsibility is as vital now as the day I took office. I am determined to do everything in my power to continue to cut wasteful spending, maintain fiscal discipline, and create opportunity through continued economic growth.