I want to thank you for that as well, because this budget really does reflect being responsible about how we get where we want to go to save dollars.
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.
I commend you for having a budget that is a net tax cut for the middle class of this country.
I remember when our previous Vice President said that deficits don't matter, and, in fact, we all know that they do.
Why don't you go back to the Bush years when revenues were up to 18.9 percent of GDP?
If you are at 23 percent of GDP for spending, and you only get your revenues up to 18.2 percent of GDP, you have got a structural deficit of 5 percent of GDP.
You are exploding the size of health care spending on top of health care spending which already exceeds any other industrialized country in the world by about 5 percent of GDP.
You cannot claim that you are being disciplined if you leave off the table the most significant item that has to be addressed.
This budget extends the 2001 and 2003 tax cuts for everybody earning below $250,000 a year.
On an overall basis, I see something quite different, and I think CBO will also conclude something quite different.
I certainly salute his transparency, putting on the table things we know are going to be expenditures.
It would be an utterly empty exercise around here not to get the votes to actually pass things.
The budget as is, in my judgment, just as it has been written, probably can't pass here.
We are essentially putting on our children's backs a debt which they can never get out from underneath.
This budget, as it is presently constructed, passes on to our children a Nation which they will not be able to afford and which will potentially drive this country into bankruptcy.
I think what we have done is destroyed the ability of the Congress to come together.
If we had not done the first TARP, we would have faced an outright economic collapse.
I believe that build-up of debt fundamentally threatens the economic security of this country. I believe it in my bones.
I have been part of a group that was dubbed by the media 'the Gang of 10'... that advocated a comprehensive approach to reducing our dependence on foreign energy.





