Kent Conrad: “There are really two pieces to this puzzle. We need a number for this year. We also need the budget disciplines…”

“There are really two pieces to this puzzle. We need a number for this year. We also need the budget disciplines reinstated because they expire on September 30. This may be one of our best opportunities... to reinstate those budget disciplines. We may also have an opportunity to have the number agreed to today. That would be a full package. That would be a very desirable outcome... But at the very least, I think we want to get the budget disciplines put in place. Let's say we do not agree. Let's say we are not able to reach agreement on a number for this year. Does that mean we have lost all opportunity? No. Because... certain of the numbers that were in last year's budget resolution serve as a basis for the disciplines that we would now be extending. In other words, even if we did not reach agreement, at least we would have the structure of budget disciplines that could agree to certain spending levels that come from the budget resolution of last year.”