I rise today in support of the Conrad-Gregg amendment of which I am an original cosponsor. The amendment would create a bipartisan task force to comb through the Federal budget and then make recommendations for reining in our annual exploding deficits. I also applaud President Obama's call yesterday for a 3-year freeze in Federal discretionary spending. This is a bold announcement. The President has made clear he has heard the American people, including those from Colorado who have asked that the Federal Government get control over its ever-increasing deficits and debt. Deficit spending, kept as a manageable percentage of our economic output, is one thing, but a deficit of the magnitude that we now face is not sustainable. We are at, in sum, a critical point in our Nation's economic history. If we fail to address this issue now, the Federal deficit will have significant economic ramifications in the short run, and it will severely undermine the prospects for our children and our grandchildren in the long run.
Editor's note · Context
Senator Udall discusses the importance of addressing the Federal deficit and supports the Conrad-Gregg amendment.
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