Good News From Washington

Good news often gets buried. Current indications are the U.S. federal budget surplus will grow far bigger and faster than anticipated.

If these indicators hold, this means two very important things are true. Number one, the federal budget, in the most usual ways it is now calculated, will remain balanced and with a surplus for the foreseeable future. And, the whole U.S. federal government debt could possibly be paid off sometime early in the 21st century.

A lot of good has to continue to happen for that to occur. But the prospect is now there, right in front of us, as a nation, as people.

And what a tremendous accomplishment. As recently as the 1980s, the federal budget not only wasn't balanced, it was running a huge deficit. Enormous deficits had been building through the '70s, reaching record levels during the Reagan administration. The Bush administration also ran budget deficits.

Early in his presidency, Bill Clinton achieved a balanced budget. And now he has led the country to a surplus; so much of a surplus that a political fight is brewing now over how to spend it.

But while he deserves and should be given considerable credit, it isn't just President Clinton. The Congress, business and labor leaders, and rank and file Americans have all contributed mightily to this happening.

This is not the time to relax on fiscal responsibility. It is a time to savor what we, all Americans, have accomplished: actually balancing the budget.