Senator Collins, there is a third commission approach that has been proposed by our colleagues.
Kent Conrad
The Public Record
Kent Conrad is a former United States Senator from North Dakota, serving from 1993 to 2013. A member of the Democratic Party, he was known for his work on fiscal policy and budget issues, particularly as the Chairman of the Senate Budget Committee. Throughout his tenure, Conrad advocated for responsible budgeting and was involved in discussions surrounding Social Security and healthcare reform. He played a significant role in shaping policies that impacted both North Dakota and the nation as a whole.
The American people have to believe that whatever is proposed is absolutely bipartisan and fair.
Congress has failed to balance our budgets and stop our rapidly-climbing debt, a $1.4 trillion deficit last year, over $12 trillion in terms of our debt limit.
As a practical matter, I find it hard to believe that we could get to the end of this process without a President being engaged and a President being supportive.
I think if any structure that is put in place that does not assure an up or down vote on the recommendations is highly unlikely to succeed.
Unfortunately, for my entire time in the Senate, we have not been able to address this crisis.
The Federal Government is the worst credit card abuser in the world and we are putting everything on the tab of our children and grandchildren.
There will be no long-term extension of the debt without this being included.
Had we not done what we did, I believe there would have been a global financial collapse.
Taxpayers were the ultimate funder of the liability. That, we cannot permit to happen again.
I think you will find a lot of allies on both sides of the aisle on this committee with respect to CFTC jurisdiction.
My God, this is the guy that is in charge of derivatives trading worldwide for a major company and he doesn't understand the formulas.
It would be unthinkable that we were to permit that same circumstance to occur again.





