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Signing of the Balanced Budget Act of 1997

President Clinton signed the Balanced Budget Act of 1997 into law on August 5, 1997, completing a congressional budget agreement that included spending caps, changes to Medicare and Medicaid, and welfare and tax provisions.

Signing of the Balanced Budget Act of 1997

The law represented a major bipartisan budget compromise that reshaped entitlement funding and contributed to the fiscal path that produced federal budget surpluses in the late 1990s.

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