The gentleman has made some good points and we are certainly going to take a look at this. As he says, we have based this on carefully conforming to a cut that we thought would not harm it, but we are certainly going to take a look at the information that he has given to us.
Discussing budget cuts and their potential impact.
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Let me mention to the gentleman, we have a $459 billion bill. We look at every one. We ask the Members to vet them. Our staff vets them. We go over every single earmark. We don't apologize for them because we think the Members know as much…
But I think in light of the recession and the economic difficulties we are facing it is not a good idea to pass legislation driving American industrial production back to the levels of 1920 at a time of potentially an economic depression.
I think that is a perfect example of the way things work. When we see something that we think is not as valuable as something else is, we change it.
You can see the hearings we've had on this issue. We felt that the missile defense cuts we made were because of schedule more than anything else, and I appreciate your determination to put it in. We'll take another look at conference, but…
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