Political Quotes

“I just had someone look up the 1974 Budget Act and the 1985 Gramm-Rudman-Hollings Budget Enforcement Act to find out what the timeframe was for estimates to be given. And my understanding is that--I am sure the Senator knows the 1974 Budget Act; he was one of the principal writers of it--the Office of Management and Budget submits a beginning-of-the-year budgetary assessment on February 1, which just occurred the other day. They make a midseason review in July or August. That is under the Budget Act of 1974. The Congressional Budget Office makes a beginning-of-the-year--which is the end of January--assessment after OMB makes its assessment and then an end-of-July reassessment. My question is, the Senator referred to this data being May, roughly May, springtime, after all the budget resolutions were passed. I do not see any requirement for a report here, and I am wondering if in fact this data is not February data as opposed to May or June data.”