Byron Dorgan: “I voted against the compromise. I recognize that the Republicans in Congress put the President in the position of having…”

“I voted against the compromise. I recognize that the Republicans in Congress put the President in the position of having to agree to things in the compromise that he strongly objected to. And I also realize that compromise is essential to move forward and to try to fix what is wrong with our economy. But here is the dilemma. We have two very serious problems that can undermine America's economic future. First is the crushing debt in our fiscal policy. Our debt is currently over $13 trillion with a yearly deficit of over $1 trillion. This proposal will substantially increase that debt which I believe will continue to undermine the confidence people have in this country's future. The estimate that this agreement will increase the debt by over $1 trillion is far short of what will actually happen. The tax cut extensions are for 2 years and I am certain that in 2 years, in the middle of an election campaign, the tax cuts will be further extended. The total cost of those tax cuts for a decade will be to add $4 trillion to the Federal debt.”