Kent Conrad: “In conclusion, I agree absolutely with what motivates the sponsors of this amendment. We need budget disciplines. I will…”

“In conclusion, I agree absolutely with what motivates the sponsors of this amendment. We need budget disciplines. I will offer those as a package, all of the budget disciplines--every one; in fact, a strengthened pay-go provision--after we dispose of the amendment that is before us. Madam President, I say to my colleagues, I believe the amendment before us has a giant loophole, unintended I am sure, but it is based on projections, not real results. We have seen what happens with that kind of budget approach. I go back again to 1990 when we had a similar scheme in place based on projections from the Office of Management and Budget.”