Kent Conrad: “we have a circumstance in which we fund those priorities of improving education, providing a meaningful prescription…”

“we have a circumstance in which we fund those priorities of improving education, providing a meaningful prescription drug benefit, strengthening our national defense, and also set aside some money to deal with this longer term problem. Our friends on the other side of the aisle haven't provided a nickel to deal with this long-term debt crisis that is coming our way. They haven't provided a dime for that purpose. We have set aside $750 billion to deal with this long-term budget circumstance, this long-term budget challenge of the baby boomers starting to retire and, when they do, us not having sufficient resources to keep the promise that has been made. Madam President, I will end on this note as I notice other colleagues have arrived. The fundamental difference between the Democrat budget plan and the Republican budget plan can be summed up on this chart of short- and long-term debt reduction. Of the projected $5.6 trillion that is available if this budget forecast comes through, we reserve $3.65 trillion for short- and long-term debt reduction. President Bush's plan reserves $2 trillion. So while he has a bigger tax cut-- about twice as big as what we propose--we have about twice as much money for short-term and long-term debt reduction. That is the fundamental difference between these two plans. It is up to people to decide what they think is the wiser course.”