In America, we're growing at a rate of 3.3 percent a year. Businesses have added 17 million new jobs since President Clinton took office. We have low inflation. For Europe, it is economic springtime. We see sustained growth of 2.5 to 3 percent a year.
Inflation poses no significant threat.
And consumer spending is rising. The debut of the Euro in January may prove to be the most significant event since the European Community was formed. Most U.S. companies are prepared for the switch to a single currency. Clearly, the Atlantic alliance is at the very core of our prosperity. But to be frank, despite all the good news, we are about to enter a very critical period.