NEW: Conrad Statement on Official 2006 Deficit Total - Oct. 11, 2006
      Conrad Remarks at Hearing on the Economy and Budget - Sept. 28, 2006
      Charts Used in Hearing on the Economy and Budget - Sept. 28, 2006
      Conrad Remarks during Press Conference on Failure of GOP Leadership - Sept. 27, 2006
      Charts Used in Press Conference on Failure of GOP Leadership - Sept. 27, 2006
      Conrad Statement on Failure of GOP Leadership - Sept. 27, 2006
      Conrad Remarks During Press Conference on GOP Budget Failures - Sept. 20, 2006
      Charts Used in Press Conference on GOP Budget Failures - Sept. 20, 2006
      Conrad Denver Post Oped on Debt - Aug. 25, 2006
      Brief Analysis of CBO August Budget Update – Aug. 18, 2006
      Conrad Remarks during Press Conference Call on CBO Budget Update – Aug. 17, 2006
      Charts Used during Press Conference Call on CBO Budget Update – Aug. 17, 2006
      Conrad Statement on CBO August Budget Update – Aug. 17, 2006
 

MID-SESSION REVIEW REPRESENTS ANOTHER EFFORT TO DISTRACT FROM LONG-TERM OUTLOOK
OMB's FY 2007 Mid-Session Review represents another effort by the Bush administration to distract from the nation's deteriorating long-term budget outlook. Anyone celebrating the short-term deficit projections in the report is really missing the bigger picture. While there has been modest improvement in the deficit from $318 billion last year to a projected $296 billion this year, the national debt is getting worse – much worse. Last year alone, the debt increased by $551 billion. This year, even with better revenues, it is projected to rise by $593 billion.

      Floor Statement on Estate Tax – Aug. 3, 2006
      Charts Used in Floor Statement on Estate Tax – Aug. 3, 2006
      Floor Statement on Estate Tax – Aug. 1, 2006
      Charts Used in Floor Statement on Estate Tax – Aug. 1, 2006
      Brief Analysis of OMB Mid-Session Review – Jul. 12, 2006
      Conrad Remarks at Press Conference on OMB Mid-Session Review – Jul. 11, 2006
      Charts Used at Press Conference on OMB Mid-Session Review – Jul. 11, 2006
      Floor Statement on OMB Mid-Session Review – Jul. 11, 2006
      Charts Used in Floor Statement on OMB Mid-Session Review – Jul. 11, 2006
      Conrad Statement on OMB Mid-Session Review – Jul. 11, 2006
 

GOP BUDGET PROCESS BILL SERIOUSLY FLAWED
The GOP budget process bill is an acknowledgment by the Republican Majority that they have failed to lead the nation on fiscal matters. They have squandered the surplus and run up large deficits. So now they are turning to a budget process proposal to appear fiscally responsible.

This proposal really represents an abdication of responsibility – multi-year caps on discretionary spending that the GOP has disregarded in the past, automatic spending cuts without regard to priorities or fairness, partisan entitlement and spending commissions that do the work of Congress (considering issues meant for elected, accountable representatives), budgeting every two years instead of one, a line item veto that allows the President to make decisions for Congress, and a series of changes to the budget resolution and reconciliation process that would restrict bipartisan input and further undermine budget transparency and fiscal responsibility.

      Floor Statement on GOP Budget Process bill – Jun. 28, 2006
      Charts Used in Floor Statement on GOP Budget Process bill – Jun. 28, 2006
      Minority Views on GOP Budget Process bill – Jun. 23, 2006
      Conrad Stmt on Dynamic Scoring Amdt to GOP Budget Process bill – Jun. 20, 2006
      Charts used at Budget Process Markup on GOP Dynamic Scoring Amdt – Jun. 20, 2006
      Conrad Stmt on Protect Soc. Security Amdt to GOP Budget Process bill – Jun. 20, 2006
      Charts Used at Budget Process Markup on Protect Soc. Security Amdt – Jun. 20, 2006
      Summary of Conrad “Do Your Job” Amdt to GOP Budget Process bill – Jun. 20, 2006
      Conrad Stmt on “Do Your Job” Amdt to GOP Budget Process bill – Jun. 20, 2006
      Charts Used at Budget Process Markup on “Do Your Job” Amendment – Jun. 20, 2006
      Summary of Democratic Alternative to GOP Budget Process bill – Jun. 20, 2006
      Conrad Statement on Democratic Alternative to GOP Budget Process bill – Jun. 20, 2006
      Charts Used at Markup on Dem Alt to GOP Budget Process bill – Jun. 20, 2006
      Conrad Opening Statement at Budget Process Markup – Jun. 20, 2006
      Charts used in Opening Statement at Budget Process Markup – Jun. 20, 2006
      Brief Analysis of GOP Budget Process Proposal – Jun. 20, 2006
      Conrad Remarks at Press Conference on GOP Budget Process Proposal – Jun. 14, 2006
      Conrad Statement on GOP Budget Process Proposal – Jun. 14, 2006
 

SENATE GOP BUDGET CONTINUES CURRENT RECKLESS FISCAL COURSE
This is a time that calls for bold action to put the nation's fiscal house back in order. Unfortunately, instead of charting a new course, the Senate GOP budget resolution says ‘steady as you go; keep running up the debt; keep overcharging the credit cards.'

Like the President's budget, the Senate GOP budget resolution leaves out large costs to make the deficit look smaller. When you add in omitted costs such as AMT reform and ongoing war costs, as well as the Social Security and other trust fund surpluses also being spent, we see that the debt will actually go up by more than $600 billion every year over the next five years under the resolution.

      Floor Statement on Estate Tax – Jun. 7, 2006
      Charts Used in Floor Statement on Estate Tax – Jun. 7, 2006
      Conrad Remarks at Press Conference on Estate Tax – Jun. 7, 2006
      Charts Used in Press Conference on Estate Tax – Jun. 7, 2006
      Conrad Statement on Budget Committee Vote to Confirm Portman – May 23, 2006
      Floor Statement on Tax Reconciliation Bill – May 11, 2006
      Charts Used in Floor Statement on Tax Reconciliation Bill – May 11, 2006
      Conrad Remarks at Hearing on Portman Nomination to be OMB Director – May 11, 2006
      Charts Used in Hearing on Portman Nomination to be OMB Director – May 11, 2006
      Conrad Remarks at Hearing on Bush Line Item Rescission Proposal – May 2, 2006
      Charts Used at Hearing on Bush Line Item Rescission Proposal – May 2, 2006
      Floor Statement on Amdt to Offset Defense Spending in Supplemental – Apr. 27, 2006
      Charts Used in Floor Statement on Amendment to Supplemental – Apr. 27, 2006
      Conrad Statement on Nomination of Rob Portman to be OMB Director – Apr. 18, 2006
      Floor Statement on Energy Amendment to FY 2007 Budget Resolution – Mar. 16, 2006
      Charts on Energy Amendment to FY 2007 Budget Resolution – Mar. 16, 2006
      Floor Statement on Avian Flu Amdt to FY 2007 Budget Resolution – Mar. 16, 2006
      Charts on Avian Flu Amendment to FY 2007 Budget Resolution – Mar. 16, 2006
      Floor Statement on the Debt Limit – Mar. 15, 2006
      Charts Used in Floor Statement on Debt Limit – Mar. 15, 2006
      Charts on Paygo Amendment to FY 2007 Budget Resolution – Mar. 14, 2006
      Floor Statement on Paygo Amendment to FY 2007 Budget Resolution – Mar. 14, 2006
      Opening Floor Statement on FY 2007 Budget Resolution – Mar. 13, 2006
      Charts Used in Opening Floor Statement on FY 2007 Budget Resolution – Mar. 13, 2006
      Minority Views on FY 2007 Budget Resolution – Mar. 10, 2006
      Charts on FY 2007 Budget Resolution – Mar. 9, 2006
      Charts on Paygo Amendment to FY 2007 Budget Resolution – Mar. 9, 2006
      Conrad Remarks at Markup of FY 2007 Budget Resolution – Mar. 9, 2006
      Conrad Remarks on Paygo Amendment to FY 2007 Budget Resolution – Mar. 9, 2006
      Press Release on Republican Budget Proposal – Mar. 9, 2006
      Conrad Remarks at Markup of FY 2007 Budget Resolution – Mar. 8, 2006
      Charts Used at Markup of FY 2007 Budget Resolution – Mar. 8, 2006
 

BUSH FY 2007 BUDGET: MORE DEFICITS AND DEBT
The nation needed a new budget plan this year, a dramatic and bold acknowledgment from the Bush administration that we need to put our fiscal house back in order. Instead, we got more of the same – more deficits, more debt, and more hiding of our true fiscal condition from the American people.

The President's new budget is nothing new. It represents the same reckless fiscal course the administration has followed for the last five years. It explodes deficits, but then conceals them by providing only five years of numbers and leaving out large costs, like long-term Alternative Minimum Tax (AMT) reform and realistic ongoing war costs. The result will be more debt passed on to our children and grandchildren.

      Senate Democratic Letter to President Bush on FY 2007 Budget – Mar. 7, 2006
      Conrad Remarks at Press Conference on Budget and National Security – Mar. 6, 2006
      Charts Used in Press Conference on Budget and National Security – Mar. 6, 2006
      Review of Newspaper Editorials Opposing Bush Budget – Mar. 2, 2006
      Conrad Remarks at Hearing on Bush FY 2007 Defense Budget – Mar. 2, 2006
      Charts Used at Hearing on Bush FY 2007 Defense Budget – Mar. 2, 2006
      Reid/Baucus/Conrad Letter to Frist on Federal Debt Limit – Mar. 2, 2006
      Charts Used in Floor Statement on Federal Debt Limit – Mar. 2, 2006
      Floor Statement on Federal Debt Limit – Mar. 2, 2006
      Charts Used at Hearing with HHS Secretary Leavitt – Mar. 1, 2006
      Conrad Remarks at Hearing with HHS Secretary Leavitt – Mar. 1, 2006
      Fact Sheet on Health Proposals in Bush FY 2007 Budget – Mar. 1, 2006
      Conrad Remarks at Hearing with Secretary of State Rice – Feb. 16, 2006
      Charts Used at Hearing with Secretary of State Rice – Feb. 16, 2006
      Conrad Remarks at Hearing on Tax Gap – Feb. 15, 2006
      Charts Used at Hearing on Tax Gap – Feb. 15, 2006
      Brief Analysis of Bush FY 2007 Budget – Feb. 8, 2006
      Conrad Statement at Hearing with OMB Director Bolten – Feb. 7, 2006
      Charts Used at Hearing with OMB Director Bolten – Feb. 7, 2006
      Conrad Remarks at Press Conference on Bush FY 2007 Budget – Feb. 6, 2006
      Charts Used in Press Conference on Bush FY 2007 Budget – Feb. 6, 2006
      Conrad Statement on Release of President Bush's FY 2007 Budget - Feb. 6, 2006

 
GOP BUDGET RECONCILIATION ADDS TO DEFICIT AND DEBT
The language being used to describe the GOP budget reconciliation process is completely disconnected from reality. This reconciliation package will increase the deficit and increase the debt. There are actually three chapters to this reconciliation process. Chapter one is the spending reconciliation, which includes $39 billion in savings. Chapter two is a tax cut reconciliation bill, which cuts taxes by another $70 billion. The combined impact of chapter one and chapter two is to increase the deficit by $31 billion over the next five years. Chapter three is the result of continuing with these fiscally irresponsible policies – the GOP proposal to increase the debt limit of the federal government by another $781 billion.

      Conrad Statement at Hearing on CBO Budget Outlook – Feb. 2, 2006
      Charts Used in Hearing on CBO Budget Outlook – Feb. 2, 2006
      Floor Statement on Tax Reconciliation Bill – Feb. 1, 2006
      Charts Used in Floor Statement on Tax Reconciliation Bill - Feb. 1, 2006
      Fact Sheet on CBO January Budget Outlook – Jan. 27, 2006
      Conrad Remarks at Press Conference on CBO Budget Outlook – Jan. 26, 2006
      Charts Used in Press Conference on CBO Budget Outlook – Jan. 26, 2006
      Conrad Statement on CBO January Budget Outlook – Jan. 26, 2006
      Remarks at Press Conf. on Amended Spending Reconciliation Bill – Dec. 21, 2005
      Closing Floor Statement on Spending Reconciliation Bill – Dec. 21, 2005
      Charts Used in Closing Floor Statement on Spending Reconciliation Bill – Dec. 21, 2005
      Press Release on Point of Order Against Spending Reconciliation Bill – Dec. 21, 2005
      Floor Statement on Point of Order Against Spending Reconciliation Bill – Dec. 21, 2005
      Chart on Point of Order Against Spending Reconciliation Bill – Dec. 21, 2005
      Floor Statement on Spending Reconciliation Conference Report – Dec. 19, 2005
      Charts Used in Floor Statement on Spending Reconciliation Conf. Rpt. – Dec. 19, 2005
      Charts Used in Floor Statement on Tax Reconciliation Bill – Nov. 17, 2005
      Floor Statement on Tax Reconciliation Bill – Nov. 17, 2005
      Conrad Remarks at Finance Committee Tax Reconciliation Markup – Nov. 15, 2005
      Charts Used in Finance Committee Tax Reconciliation Markup – Nov. 15, 2005
      Charts Used in Floor Statement on Spend-O-Meter Charges – Nov. 1, 2005
      Charts Used in Floor Statement on Pay-Go Amendment – Nov. 1, 2005
      Floor Statement on Pay-Go Amendment – Nov. 1, 2005
      Floor Statement on Spend-O-Meter Charges – Nov. 1, 2005
      Floor Statement on Spending Reconciliation – Nov. 1, 2005
      Charts Used in Floor Statement on Spending Reconciliation – Nov. 1, 2005
      Minority Views of GOP Spending Reconciliation Bill – Oct. 27, 2005
      Conrad Remarks at Spending Reconciliation Markup – Oct. 26, 2005
      Charts Used in Spending Reconciliation Markup – Oct. 26, 2005
      Conrad Opening Remarks at Finance Committee Reconciliation Markup – Oct. 25, 2005
      Charts Used in Finance Committee Reconciliation Markup – Oct. 25, 2005
      Floor Statement on Fiscal Condition of Country – Oct. 20, 2005
      Charts Used in Floor Statement on Fiscal Condition of Country – Oct. 20, 2005
      Conrad Statement on Revised CBO FY 2005 Deficit Estimate – Oct. 6, 2005
      Floor Statement on Budget Outlook – Sept. 14, 2005
      Charts Used in Floor Statement on Budget Outlook – Sept. 14, 2005
      Floor Statement on Budget Reconciliation and Hurricane Katrina – Sept. 7, 2005
      Reid/Pelosi/Conrad/Spratt Letter on Reconciliation – Sept. 7, 2005
 

OMB'S FY 2006 MID-SESSION REVIEW MASKS LONG-TERM BUDGET DETERIORATION
OMB's FY 2006 Mid-Session Review shows a short-term fiscal improvement that masks the long-term deterioration in the nation's budget outlook. It is good news that this year's deficit is now projected to be lower than last year's record, but this is hardly a time for celebration.

When we add in the Social Security and other trust fund dollars also being spent, the debt in 2005 will actually increase by $587 billion – not the advertised $333 billion deficit. Looking forward, deficits and debt will explode just outside the administration's five-year budget window – as the rising cost of tax cuts and other administration policies collide with the retirement of the baby boom generation. The administration's deficit projections also continue to omit large costs, such as long-term ongoing war costs and the cost of reforming the Alternative Minimum Tax.

      Floor Statement on Voinovich/Conrad Social Security Lockbox Bill – Sept. 20, 2005
      Charts Used in Floor Statement on Social Security Lockbox Bill – Sept. 20, 2005
      Brief Analysis of CBO August Budget Update – Aug. 15, 2005
      Transcript of Press Conference Call on CBO August Budget Update - Aug. 15, 2005
      Charts Used in Press Conference Call on CBO August Budget Update – Aug. 15, 2005
      Conrad Statement on CBO August Budget Update – Aug. 15, 2005
      Brief Analysis of OMB Mid-Session Review – Jul. 14, 2005
      Conrad Remarks at Press Conference on OMB Mid-Session Review – Jul. 13, 2005
      Charts Used in Press Conference on OMB Mid-Session Review – Jul. 13, 2005
      Conrad Statement on OMB Mid-Session Review – Jul. 13, 2005
 

GOP BUDGET CONFERENCE REPORT BUILDS WALL OF DEBT
The GOP Budget Conference Report will build a wall of debt around our country that will block economic progress and pass on a crippling burden to future generations. Under this budget plan, federal debt will increase by more than $600 billion every year and will total more than $11 trillion by 2010.

Despite GOP claims, deficits would not be cut in half under this plan. When omitted costs are factored in, such as realistic ongoing war costs, AMT reform, and the Social Security surplus being spent on tax cuts and other things, we see that operating deficits will remain above $560 billion and reach $572 billion in 2010.

The GOP budget plan continues the Majority's focus on the wrong priorities. It includes another $106 billion in tax cuts ($70 billion with reconciliation protection), while cutting such key programs as Medicaid, student loans, and agriculture. Instead of using those spending cuts to reduce the deficit, the budget plan irresponsibly uses them to help provide more tax cuts that overwhelmingly benefit the wealthiest.

      Conrad Remarks at Hearing on PBGC Solvency – Jun. 15, 2005
      Charts Used at Hearing on PBGC Solvency – Jun. 15, 2005
      Conrad Remarks at Press Conference on Retirement Savings – Jun. 9, 2005
      Charts Used in Press Conference on Retirement Savings – Jun. 9, 2005
      Conrad Remarks at Finance Committee Hearing on Social Security – May 25, 2005
      Charts Used at Finance Committee Hearing on Social Security – May 25, 2005
      Brief Analysis of GOP Budget Conference Report – Apr. 29, 2005
      Floor Statement on GOP Budget Conference Report – Apr. 28, 2005
      Charts Used in Floor Statement on GOP Budget Conference – Apr. 28, 2005
      Conrad Remarks at Budget Conference Meeting – Apr. 27, 2005
      Charts Used at Budget Conference Meeting – Apr. 27, 2005 

SENATE GOP BUDGET WOULD FURTHER WORSEN FISCAL OUTLOOK
Unfortunately, the Senate GOP Budget Resolution closely tracks President Bush's budget proposal. Like the President's budget, it increases deficits and debt, leaves out large costs, includes more deficit-financed tax cuts, and focuses on the wrong priorities for the American people. Deficits would not be cut in half under this resolution. When omitted costs are factored in, such as realistic ongoing war costs, the Social Security surplus being spent on tax cuts and other things, and AMT reform, we see that operating deficits will remain above $500 billion every year and reach $569 billion in 2010. The Senate GOP plan would worsen our nation's fiscal outlook at the worst possible time, right before the baby boom generation retires.
 
      Conrad Remarks at Finance Committee Hearing on Social Security – Apr. 26, 2005
      Charts Used at Finance Committee Hearing on Social Security – Apr. 26, 2005
      Conrad Remarks at Hearing with Fed Chairman Greenspan – Apr. 21, 2005
      Charts at Hearing with Fed Chairman Greenspan – Apr. 21, 2005
      Conrad Remarks at Finance Committee Hearing on the Tax Gap – Apr. 14, 2005
      Floor Statement on Feingold Pay-Go Amendment to Budget Resolution – Mar. 16, 2005
      Charts Used in Floor Statement on Save Soc. Sec. First Amendment – Mar. 15, 2005
      Floor Statement on Save Soc Sec. First Amendment to Budget Res. – Mar. 15, 2005
      Charts Used in Floor Statement on Senate GOP Budget Resolution – Mar. 14, 2005
      Floor Statement on Senate GOP Budget Resolution – Mar. 14, 2005
      Conrad Minority Views of Senate GOP Budget Resolution – Mar. 11, 2005
      Conrad Closing Remarks at Markup of Senate GOP Budget Resolution: Day 2 - Mar 10. 2005
      Conrad Opening Remarks at Markup of Senate GOP Budget Resolution: Day 2 - Mar 10. 2005
      Charts Used in Markup of Senate GOP Budget Resolution – Mar. 9, 2005
      Conrad Remarks at Markup of Senate GOP Budget Resolution: Day 1 – Mar. 9, 2005

 
FEDERAL DEBT SOARING UNDER BUSH POLICIES
Since President Bush took office, federal debt has soared – passing on a crippling burden to future generations and threatening the long-term economic security of the nation. If we assume that the President’s tax cuts are made permanent, the President’s defense buildup is adopted, the AMT is reformed, and we have ongoing war costs, gross federal debt is projected to climb from the $5.8 trillion in 2001 to $14.9 trillion in 2014. This will translate into $46,660 in debt for each American citizen in 2014.

The growing debt under the President’s policies will leave us vulnerable to other nations by increasing our indebtedness to foreign creditors, weaken our ability to provide promised Social Security and Medicare benefits, increase the cost of living for average Americans by raising interest rates, slow long-term economic growth by crowding out private sector investment, and divert scarce resources from national priorities by increasing federal interest payments.
 
      Transcript of Democratic Weekly Radio Address – Mar. 5, 2005
      Fact Sheet on Discretionary Spending Under Bush Budget – Mar. 2, 2005
      Fact Sheet on Environment and Energy Proposals in Bush Budget – Mar. 2, 2005
      Conrad Remarks at Hearing on Defense Budget – Mar. 1, 2005
      Charts Used in Hearing on Defense Budget – Mar. 1, 2005
      Fact Sheet on Defense and International Proposals in Bush Budget – Feb. 28, 2005
      Fact Sheet on Homeland Security Proposals in Bush Budget – Feb. 28, 2005
      Fact Sheet on Education and Training Proposals in Bush Budget – Feb. 28, 2005
      Conrad Remarks at Hearing on Medicare and Medicaid – Feb. 17, 2005
      Conrad Remarks at Hearing on Budget Transparency – Feb. 16, 2005
      Conrad Remarks at Hearing with Treasury Secretary Snow – Feb. 10, 2005
      Conrad Remarks at Hearing with OMB Director Bolten – Feb. 9, 2005
      Brief Analysis of Bush FY 2006 Budget – Feb. 8, 2005
      Conrad Remarks at Hearing with GAO Comptroller General Walker – Feb. 8, 2005
      Charts Used in Hearing with GAO Comptroller General Walker – Feb. 8, 2005
      Conrad Remarks at Press Conference on Bush FY 2006 Budget – Feb. 7, 2005
      Charts Used in Press Conference on Bush FY 2006 Budget – Feb. 7, 2005
      Conrad Statement on Bush FY 2006 Budget – Feb. 7, 2005
      Conrad Remarks at Hearing on CBO Budget Outlook – Feb. 1, 2005
      Charts Used in Hearing on CBO Budget Outlook – Feb. 1, 2005
      Fact Sheet on CBO Budget Outlook Update - Jan. 27, 2005
      Conrad Remarks at Press Conference on CBO January Budget Outlook – Jan. 25, 2005
      Charts Used in Press Conference on CBO January Budget Outlook – Jan. 25, 2005
      Conrad Statement on CBO January Budget Outlook – Jan. 25, 2005
      Floor Statement on Debt Limit – Nov. 17, 2004
      Charts Used in Floor Statement on Debt Limit – Nov. 17, 2004
      Charts Used in Press Conference on Foreign-Held U.S. Debt – Oct. 20, 2004
      Conrad Statement on 2004 Deficit – Oct. 14, 2004
      Conrad Statement on Debt Limit – Oct. 14, 2004
      Fact Sheet on Why Debt Matters – Sept. 30, 2004
      Floor Statement on Budget and Economy – Sept. 22, 2004
      Charts Used in Floor Statement on Budget and Economy – Sept. 22, 2004
      Brief Analysis of CBO Summer Budget Update – Sept. 8, 2004
      Floor Statement on CBO Summer Budget Update – Sept. 7, 2004
      Conrad Remarks at Press Conference on CBO Update – Sept. 7, 2004
      Charts from Press Conference on CBO Update – Sept. 7, 2004
      Conrad Statement on CBO Summer Budget Update – Sept. 7, 2004