Kent Conrad: “I just thought I would provide the context because this was a ``60 Minutes'' program interview, and they were asking me…”

“I just thought I would provide the context because this was a ``60 Minutes'' program interview, and they were asking me in the context of the Comptroller General of the United States warning the American people we are on an utterly unsustainable fiscal course because the debt is soaring before the baby boomers retire, and that we face a very serious consequence if we do not deal with it. So one question put to me was: Do you think taxes ought to be raised? Senator Conrad: I believe, first of all, we need more revenue. The next sentence, which the Senator did not provide: We need to be tough on spending. And the next sentence after that also the Senator did not provide: And we need to reform the entitlement programs. We need to do all of it. Let me say, I am not alone in that view. The ranking Republican on the Budget Committee said this at a hearing on our long-term fiscal challenges. This is the Republican ranking member: . . . [W]e also know revenues are going to have to go up, if you're going to maintain a stable economy and a productive economy, because of the simple fact that you're going to have to have this huge generation that has to be paid for.”