Frank Lautenberg: “I watched with interest the development of this amendment and the others that we heard over the last couple days. It…”

“I watched with interest the development of this amendment and the others that we heard over the last couple days. It seems like there is a testimonial here to Alan Greenspan. He is a very smart guy, and I will tell you how I know how smart he is. He used to be on the board of my company, and when I left to come to the Senate, he was still on the board of my company. He didn't leave there until he was chosen to be chairman of the Fed. At that point, he could not stay and continue enjoying the private side of things. It was very nice. He is a very bright guy. At our board meetings, everybody used to listen so attentively to what Alan said. Fortunately, in this country of ours, there are lots of smart people. It doesn't mean that he is wrong, but it means that others can have a differing view. I think that this amendment--and I am not putting myself in his league, I must tell you; but we talked to economists, too, and we see a problem with this. This amendment would establish a point of order against any budget resolution in which revenues do not exceed outlays for any given year.”