Kent Conrad: “It is correct. Here we have a situation in which we are at war, and we have had very substantial tax cuts already. Last…”

“It is correct. Here we have a situation in which we are at war, and we have had very substantial tax cuts already. Last year the revenue was the lowest it has been as a share of gross domestic product since 1959. The deficits are at record levels. And the President's answer is spend more money and cut the tax base further, expanding the deficits, expanding the debt, and doing it all right before the baby boomers start to retire. It is truly a reckless course the President is taking us on. It is a reckless course. I hope at some point colleagues on both sides of the aisle will get serious about the long-term economic security of the country. The Senator from Massachusetts has been extraordinarily patient. Mr. President, Senator Kennedy has very graciously offered to wait until the Senator from West Virginia has concluded his remarks. We certainly thank him for his consideration. I yield such time as the Senator from West Virginia may use. The PRESIDING OFFICER. The Senator from West Virginia.”