Byron Dorgan: “If we go back 6, 7, or 8 years--6 years, for example--and think of where we were, deficits at record highs and…”

“If we go back 6, 7, or 8 years--6 years, for example--and think of where we were, deficits at record highs and increasing each year. There were the junk bonds, failed savings and loans; the derision with almost a financial casino in the country with the taxpayers paying the bill from S&L's that go belly up, junk bonds that were nonperforming, people going to prison, the placing of junk bonds under circumstances that were not legal. Do you remember when we were, 6 or 7 years ago, deep in debt, and getting deeper? The point we are making now is that this country has turned around. It didn't happen just by accident. It happened because a set of Federal policies were put in place that said here is what we should do: We should turn the corner, and move in this direction--cut spending. This President proposed that; cut spending. We have 250,000 roughly fewer Federal employees on the public payroll today than when this President took office.”