Kent Conrad: “I believe one of the key reasons is that a number of us had the courage to vote for a budget package 2 years ago that…”

“I believe one of the key reasons is that a number of us had the courage to vote for a budget package 2 years ago that reduced the deficit by over $500 billion over the next 5 years. Because we did that, because we cut spending, and, yes, raised taxes on the wealthiest 1 percent among us, the result was a reduced deficit. The result of that was reduced interest rates. The result of that was renewed economic growth in this country, increased job creation, and a much stronger economy. That is why we need to move toward a balanced budget, because it will take pressure off of interest rates. It will allow this economy to continue to grow. It will allow this country to get back on track. That is why the amendment of the Senator from Nebraska is so important.”