Kent Conrad: “I want to say to those who are listening that we don't believe there is any tax increase in our proposal. We believe…”

“I want to say to those who are listening that we don't believe there is any tax increase in our proposal. We believe there is significant fiscal discipline because we are balancing the budget by 2012. There has been no balancing of budgets around here during the 6 years of this administration. They have run up record deficits. They have run up record debt. It is not a matter of speculation, what they have done. If you look at the record of this administration on debt, it is just as clear as it can be. This is what happened on their watch. They have been in control of everything--the House, the Senate, and the White House. This is what has happened. They took the debt of the United States from $5.8 trillion at the end of the President's first year... But look at what he is responsible for. He has taken this gross debt of the United States from $5.8 trillion to $9 trillion, and if his fiscal policies are pursued the next 5 years, he will have taken the debt to $12 trillion. He will have more than doubled the debt of the United States.”