Kent Conrad: “let me be clear. My first amendment does not contain the Daschle growth package. It does not. It simply is not reading…”

“let me be clear. My first amendment does not contain the Daschle growth package. It does not. It simply is not reading my amendment. My amendment says very clearly the following: That we would prevent additional increases to the deficit by spending, or by taxes. And we would enforce it with a 60-vote point of order with two exceptions: On spending for national security, homeland security, national defense; on taxes, you can have a stimulus package in 2003 and 2004. It could be the Daschle package. It could be the Nickles package. But you could not have a stimulus package that adds to the deficit in 2005 and beyond. That in no way restricts you to the Daschle package. It would allow it, but it would not prevent any other stimulus package from being enacted for 2003 and 2004. On my second amendment, which reduces the tax cut by $1.2 trillion, still leaving a tax cut of $150 billion, the money is used to strengthen Social Security. It is held in a reserve fund. That allows us to reduce the deficit and reduce the debt. If we want to have a growth package here, we better get serious about the deficit and the debt because most economists are telling us the President's so-called growth package doesn't grow the economy at all. It actually hurts long- term economic growth. Why? Because the President's tax cuts are not offset by spending reductions. The President's tax cuts are offset by borrowing.”