Senate Proceeding on Apr 29th, 2009 :: 6:24:10 to 6:34:40
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6:24:06 to 6:24:26( Edit History Discussion )

Kent Conrad: mr. conrad: mr. president? senator from north mr. conrad: again i want to thank senator sanders for his kind remarks and for his contributions to the work of the budget committee. he has been a very energetic and important member and done an outstanding job of questioning witnesses before the committee. and he also has been somebody who has worked very hard on community clinic unanimous

6:24:10 to 6:34:40( Edit History Discussion )
Speech By: Kent Conrad

6:24:27 to 6:24:51( Edit History Discussion )

Kent Conrad: consents to which, i think, are going to make a great difference across the country. the very significant increase for those clinics in this resolution. and the person responsible and the person that deserves the credit is the senator from vermont, senator sanders. contribution.

6:24:52 to 6:25:12( Edit History Discussion )

Kent Conrad: mr. president, we are now we have senator coburn who would like to come at 4:30; senator mccain who, i understand, would like to speak at roughly senator udall, i think the udall

6:25:13 to 6:25:36( Edit History Discussion )

Kent Conrad: of new mexico -- no, the uda of colorado, would like to speak as if in morning business. i want to alert his staff if they're listening, this would be a good time for him to come and speak because we have some time between now and when we exp senator coburn. i hope that we're able to move

6:25:37 to 6:25:57( Edit History Discussion )

Kent Conrad: to a vote soon aer senator mccain concludes his remarks but we have yet to hear definitive that will be the case. mr. president, i want to just very briefly go over what i think is important about this budget. first of all, it president's key priorities of

6:25:58 to 6:26:19( Edit History Discussion )

Kent Conrad: reducing our dependence on foreign energy which is critically important to our national security and our economic security, a focus on exlenexcellence in education, because if we are not the best educated

6:26:20 to 6:26:42( Edit History Discussion )

Kent Conrad: we are not doing well; and, third, health care reform. we are spending nearly 18% of our gross domestic product, one of every $1 o way to spend $1 in every $3 and that cannot be the outcome.

6:26:43 to 6:27:05( Edit History Discussion )

Kent Conrad: that would put us at a hugely disadvantageous position in terms of competiveness in this globalized economy. and it would have consequences on american patience, american consumers, american families, american businesses. so we know we need fundamental health care reform and the president has put that prompt and center before the congress

6:27:06 to 6:27:27( Edit History Discussion )

Kent Conrad: of the united accommodated in this budget resolution. number four, we have the extension of middle-class tax cuts, over $700 billion in tax cuts included in this bill, most of it dir class. in addition, this budget reduces the deficit by two-thirds over five years.

6:27:28 to 6:27:50( Edit History Discussion )

Kent Conrad: reduces it by over two-thirds in five years. on a g.d.p. basis we're reducing the deficit by more than that, by three quarters between now and 2014, from 12% of g.d.p. in 2010 to 3%

6:27:51 to 6:28:12( Edit History Discussion )

Kent Conrad: mr. president, that's the fundamentals of this budget. is it perfect? there is in document that is prepared by the hand of man and women that is perfect so understand, this is not a perfect document. this is a product of compromise between 435 members of the house of representatives and 1

6:28:13 to 6:28:36( Edit History Discussion )

Kent Conrad: members of the united states senate. this is purely a congressional document. it does not become law. it is not signed by the president of the united states. it is a document to guide the spending and the revenues of the united states for the next five years. an obviously since we do another budget next year, the most permit thing is what it

6:28:37 to 6:28:58( Edit History Discussion )

Kent Conrad: does offer th over the next year. remember, this inherited an extremely difficult situation. massive deficits, an economy in the w depression, a circumstance in which the united states having two wars. so this president inherited a very tough situation.

6:28:59 to 6:29:19( Edit History Discussion )

Kent Conrad: but we also know that we're starting to see the signs of a turn. in terms of consumer spendin in terms of housing sales, in terms of automobile sales. for the first time we're seeing an improvement last week we had before us in our

6:29:20 to 6:29:41( Edit History Discussion )

Kent Conrad: caucus mr. bernanke, the chairman of the federal reserve, who says he sees the economy turning. that the precipitous downfall -- downturn seems to hav or ebbed at least, and he sees the prospect of the beginning of reco we all hope that is the case.

6:29:42 to 6:30:04( Edit History Discussion )

Kent Conrad: this budget is an important part of an overall economic recovery strategy. and while we have precisely the budget the president sent us, there's good reason for that. president's people made their estimates of the revenue available over the next 10

6:30:05 to 6:30:25( Edit History Discussion )

Kent Conrad: years, office seven months later did a new estimate for our budget. the preside's budget had $2 trillion more available to him when he wrote his budget than we have had available in writing our budget. that he' in stated changes in order to achieve the deficit

6:30:26 to 6:30:46( Edit History Discussion )

Kent Conrad: reduction he had called for and the deficit economists say is fundamentally necessary. so, mr. president, we wrote a five-year budget. of the 34 budgets that have been written under the congression budget office -- or congressional budget act, 30 o

6:30:47 to 6:31:08( Edit History Discussion )

Kent Conrad: the 34 have been five-ee budgets. why is that? well, because forecasts for 10 years are notoriously unreliable. know no, sirly that's why congress 30 of the 34 times they' done a five-ee budget. because the forecast even then

6:31:09 to 6:31:29( Edit History Discussion )

Kent Conrad: for the out years are highly suspect. but when y 10-year forecast, that is really just throwing a dart. mr. president, that's where we are. we have wked, i think, in a credible way to fashion a budget document that meets the needs of the american people. that puts us in a better position for future.

6:31:30 to 6:31:51( Edit History Discussion )

Kent Conrad: but i freely acknowledge that we must do much more, especially in the sond five years. it is absolutely imperative that we do more to get our long-term financial house in order. that is going to require entitlement reform, medicare, social security. reform. because, as i've described,

6:31:52 to 6:32:12( Edit History Discussion )

Kent Conrad: we've got a tax system that is only collecting about 75% of the money that's due and owed under the current tax we wouldn't need any tax increase of any kind to balance the books if we were just collecting what's due and owed under the current system. unfortunately while the vast majority pay of us -- of us pay

6:32:13 to 6:32:33( Edit History Discussion )

Kent Conrad: what we owe, we have an increasing number of people and companies who don't. and that's got to stop. mr. president, with that, i thank the chair and yield the floor. i note the absence of a quorum. and i want expecting senator coburn at roughly 4:30, senator mccain

6:32:34 to 6:32:56( Edit History Discussion )

Kent Conrad: at rou senator udall -- 4:45, and senator udall, if he's available, and if his people are in earshot, this would be a good time for him to come and use the time that he's ag yield the floor. the presiding officer: the clerk

6:33:03 to 6:33:23( Edit History Discussion )

Kent Conrad: will call t quorum call: mr. conrad: mr. president? the presiding officer: the senator from mr. conrad: i ask that further call be dispensed with.

6:33:24 to 6:33:45( Edit History Discussion )

Kent Conrad: the presiding officer: without objection. mr. conrad: i received information that senator udall will be with us at roughly 4:15. senator udall at 4:15 for 10 minutes at 4:30 for 10 or 15 minutes and then senator mccain at 4:45 for roughly 15 minutes.

6:33:46 to 6:34:06( Edit History Discussion )

Kent Conrad: i'm not asking unanimous consent because we don't want to be locked in if one of them comes we don't want to be wasting time here, and i may need time to respond to what other senators might offer. but we're hopeful that if there

6:34:07 to 6:34:31( Edit History Discussion )

Kent Conrad: are any other senators that would wish to would let their respective cloakroom know. with of a quorum. the presiding officer: the clerk will call the roll.