Kent Conrad

With the understanding we will try to insert an amendment in between the second and third.

This Senator may be frozen out, and this Senator is going to object unless he is not frozen out. I am happy to go to Senator Nelson. Why don't we let him go and then see where we stand at the end. But I am not going to enter into an…

The very able Senator from Oklahoma has asked me for a list of the amendments that were offered on the Democratic side that were offset. He asked me to name one.

Then we go to Senator Lott. Maybe that helps, for the information of our colleagues, as we try to go through this bill with some efficiency as we get toward the end of this day. We will close, by prior agreement, at 8 o'clock.

Then there may be some discussion on the Inhofe amendment on this side. Then we would go to Senator Nelson. That would be in approximately 20 minutes, perhaps, for the information of Senators. How long would Senator Nelson require?

The Senator can see here the answer to the question he posed to me. I would ask: Who is holding the debt?

I would be happy to ask the Senator from Maryland a question, if he would yield for that purpose.

I would say to the Senator, if I could, the situation is even much worse. Why is it much worse? Because the deficits understate what is happening to the debt. Last year, for example, the deficit went up by something over $300 billion, but…

The Senator is correct. So we have had a swing from projections of a $5.6 trillion surplus to more than a $4 trillion deficit. That is a swing of $10 trillion.

Yes, they did. In fact, they were concerned we were going to pay off too much debt.

The longer we postpone the solution to this flooding crisis, the more danger North Dakota, Canada, and surrounding areas will face. The Devils Lake outlet project needs to be in full operation as soon as possible.

I am happy to do that. The Senator from Texas has been very patient. Let's allow her to proceed, I will take a few minutes, and we will go on with the other Members scheduled.

Well, that is the plan. That is what this budget calls for. In 2006, this budget accounts for tax cuts to those who earn on average over $1 million a year, and the tax cuts in the year 2006 alone for those earning over $1 million a…

If we went to Senator Akaka for 10 minutes and then Senator Stabenow for 15, we would then be very close to 9 o'clock.

Can I suggest that Senator Hutchison had indicated to staff she would be more interested in a little later time slot.

I am pleased to yield 30 minutes to the Senator from Massachusetts after the Senator from West Virginia has concluded.

Well, I was, in the sense that my colleagues chose me as a conferee, along with the distinguished senior Senator from Maryland, Mr. Sarbanes, as well as the senior Senator from Washington, Mrs. Murray, but we were not invited to any of the…

It is very interesting to compare this statement where the President says he is going to have ``the largest debt reduction of any country, ever. Future generations shouldn't be forced to pay back money that we have borrowed,'' but here is…

That was made in March of 2001, when, the Senator will recall, he was assuring us we could afford to have a massive defense buildup, deep tax cuts, that it would all add up and he would be able to protect Social Security and Medicare, not…

No, it really is not. I think any objective observer in reading this budget would have to say it is not a realistic picture of our financial condition. It just leaves out things. In fact, when the President's people came to me and told me…

It does not. We have this supplemental, as the Senator knows, that is going through the process. We passed it in the Senate. It is in conference committee now. It is $82 billion. Much of it will be spent this year; some of it will slop…

Again I thank the ranking member, Senator Jeffords, who has put so much time and effort into this legislation so that all at the table are fairly represented. I thank the chairman, as well. The chairman has strived valiantly over an…

None of this adds up. I mean, it isn't even close. None of this adds up. And the result is, I think, going to be very, very serious damage to the fiscal strength of our country.

I don't see any way that, if we pass this bill tonight, this provision does not become law. In this bill, these 3,000 pages that have been put before us today and we are asked to vote hours later, that spends $388 billion, there is a…

Senator, it is in the law if we pass this bill tonight. Senator, I say through the Chair, the point is this: I am not questioning the chairman. I am not. But I am questioning this body tonight passing this legislation that has already been…