President Clinton Expects No Major Y2K-Related Problems

<B> President Clinton Expects No Major Y2K-Related Problems</B>

By Barbara Cook

President Clinton last week released the fourth and final report by his Y2K task force, headed by John Koskinen, and announced that the United States should not experience any "major national breakdowns" due to Y2K glitches.

"The report shows that our hard work in this country is paying off. And while there is more to do, I expect we will experience no major national breakdowns as a result of the Year 2000 date change," the President said.

The federal government has completed work on more than 99 percent of its mission-critical computer systems, Clinton said, adding that this means "the American people can have full faith that everything from air traffic control systems to Social Security payment systems will continue to work exactly as they should."

The President also said that the Koskinen report documents remarkable Y2K progress in all of America's critical infrastructure areas. "When it comes to financial services, power, telecommunications, air and rail travel, leading organizations report they have completed, or nearly completed, all their Y2K work. I am confident the Y2K problem, therefore, will not put the savings or the safety of the American people at risk," he said.

However, Clinton warned, "In some areas we do continue to have concerns. Some small businesses, local governments and other organizations have been slower to address the Y2K challenge."


<B>International Update</B>

On an international basis, the President said most of this country's large trading partners "are in good shape," but he voiced concerns about the Y2K preparations of some developing nations. He said the State Department will continue to update its country-by-country assessments and advisories on individual foreign nations as new Y2K information becomes available.

The federal government is spending about $8.6 billion to prepare for Y2K, while U.S. businesses have spent an estimated $50 billion, according to the White House.