With record numbers of new homes being built, paychecks increasing, hundreds of thousands of young people getting new help to go to college, new businesses opening their doors, a surging market on Wall Street, we are truly widening the circle of opportunity in America. I'm here to report to the American people on more good news about our budget. As required by law, my administration is releasing the mid-session review of the budget. Here is what we have found. Last year, for the first time in 29 years, we balanced the budget.
Fiscal discipline does bring real results.
I want to thank my economic team for all the work that they have done. Lower interest rates have led to a boom in business investment, to lower mortgage rates, to lower credit card rates, to lower student loan rates. Fiscal discipline has widened opportunity and created hope for all working people in our country. Now we have a chance to do even more, to use the fruits of our prosperity today to strengthen our prospects for tomorrow, indeed for tomorrows well into the 21st century. In my State of the Union Address, I set out a plan for how to use the budget surplus.