LAST UPDATED:
February 9, 2010
3:30 PM ET
President Obama’s Fiscal Year 2011 Budget needs to be viewed in the context of the awful hand the President has been dealt. He inherited one of the worst fiscal outlooks our country has ever seen. The budget is correctly focused on what must be our first priority: creating jobs and restoring our nation’s economic strength. But even as the federal government continues to act to get the economy back on its feet, it needs to simultaneously pivot to address the nation’s long-term debt crisis.
NEW Conrad Remarks at Hearing on Economic Outlook & Risks for Budget & Debt - Feb. 9, 2010
NEW Charts Used at Hearing on Economic Outlook & Risks for Budget & Debt - Feb. 9, 2010
Conrad Remarks at Hearing on Budget with Treasury Secretary Geithner - Feb. 4, 2010
Charts Used at Hearing on Budget with Treasury Secretary Geithner - Feb. 4, 2010
Brief Analysis of President Obama’s FY 2011 Budget - Feb. 2, 2010
Conrad Remarks at Hearing on Budget with OMB Director - Feb. 2, 2010
Charts Used at Hearing on Budget with OMB Director Orszag - Feb. 2, 2010
Conrad Statement on President Obama’s FY 2011 Budget - Feb. 1, 2010
CBO’s January Budget and Economic Outlook again highlights the fiscal mess handed to President Obama. A severe recession and the federal response to it, two costly wars, and the large unpaid-for tax cuts of the Bush era have left the nation in a deep hole of debt that will take years to dig out of. CBO is now showing the deficit in 2010 will be $1.35 trillion, roughly unchanged from last year. While the deficit is expected to fall for several years after that, we can expect it will begin climbing again as the bulk of the baby boom generation retires and health care costs continue to rise.
Conrad Remarks at Hearing on CBO Budget and Economic Outlook - Jan. 28, 2010
Charts Used at Hearing on CBO Budget and Economic Outlook - Jan. 28, 2010
Conrad Remarks at Press Conf. on CBO Budget and Economic Outlook - Jan. 26, 2010
Charts Used in Press Conference on CBO Budget and Economic Outlook - Jan. 26, 2010
Conrad Statement on CBO Budget and Economic Outlook - Jan. 26, 2010
On December 9, Senators Conrad and Gregg introduced new legislation to create a bipartisan fiscal task force to address the nation’s long-term budget crisis. The bill establishes an 18-member task force comprised of currently-serving members of Congress and Administration officials. Everything would be on the table, including spending and revenues. The task force recommendations would be considered by Congress under expedited procedures with a vote required. A bipartisan outcome would be ensured, with 14 of 18 task force members needed to report the recommendations and supermajorities needed for final passage in both the Senate and House.
Conrad Statement on Debt Limit Vote - Jan. 28, 2010
Conrad Stmt on President Obama’s State of the Union Address - Jan. 27, 2010
Senator Reid's Statutory PAYGO Amendment to Debt Limit Bill - Jan. 27, 2010
Press Release on Bipartisan Majority Vote for Fiscal Task Force - Jan. 26, 2010
Conrad Closing Floor Stmt on Bipartisan Fiscal Task Force Amdt - Jan. 26, 2010
Charts Used in Closing Floor Stmt on Bipartisan Fiscal Task Force Amdt - Jan. 26, 2010
Conrad Floor Stmt During Debate on Bipartisan Fiscal Task Force Amdt - Jan. 25, 2010
Charts Used in Floor Debate on Bipartisan Fiscal Task Force Amdt - Jan. 25, 2010
Conrad Stmt on President’s Support for Bipartisan Fiscal Task Force - Jan. 23, 2010
President’s Statement in Support of Bipartisan Fiscal Task Force – Jan. 23, 2010
Bipartisan Fiscal Task Force Amendment Legislative Language - Jan. 21, 2010
Conrad Floor Statement on Bipartisan Fiscal Task Force Amendment - Jan. 21, 2010
Charts Used in Floor Stmt on Bipartisan Fiscal Task Force Amendment - Jan. 21, 2010
Letter to President Obama on Bipartisan Fiscal Task Force - Dec. 24, 2009
Conrad Floor Statement on Short-Term Debt Limit Increase - Dec. 23, 2009
Charts Used in Floor Statement on Short-Term Debt Limit Increase - Dec. 23, 2009
Charts Used in Floor Statement on Senate Health Plan - Dec. 22, 2009
Conrad/Gregg Oped in The Hill on Bipartisan Fiscal Task Force – Dec. 18, 2009
Conrad Statement at HSGAC Hearing on Fiscal Task Force – Dec. 17, 2009
Charts Used at HSGAC Hearing on Fiscal Task Force - Dec. 17, 2009
Bipartisan Fiscal Task Force Legislative Language - Dec. 17, 2009
Conrad-Gregg Floor Colloquy on Bipartisan Fiscal Task Force – Dec. 10, 2009
Conrad-Gregg Press Release on Introduction of Bipartisan Fiscal Task Force - Dec. 9, 2009
Fact Sheet on Bipartisan Fiscal Task Force - Dec. 9, 2009
Conrad Remarks at Press Conference on Bipartisan Fiscal Task Force - Dec. 9, 2009
Charts Used in Press Conference on Bipartisan Fiscal Task Force – Dec. 9, 2009
Concord Coalition Statement of Support for Bipartisan Fiscal Task Force – Dec. 9, 2009
CRFB Statement of Support for Bipartisan Fiscal Task Force – – Dec. 9, 2009
Third Way Statement of Support for Bipartisan Fiscal Task – Dec. 9, 2009
Conrad-Gregg Stmt. Responding to Comments on Bipartisan Fiscal Task Force – Dec. 2, 2009
Conrad Remarks at Hearing on Bipartisan Process Proposals – Nov. 10, 2009
Charts Used in Hearing on Bipartisan Process Proposals – Nov. 10, 2009
The Senate health plan includes key health reform measures. It is fully paid for and cuts the deficit by $130 billion over the first ten years. It will save as much as $650 billion in the second ten years, with ongoing savings beyond that. It expands coverage to 94 percent of Americans. It contains critical insurance market reforms, such as banning the denial of coverage based on pre-existing conditions. And it contains delivery system reforms that will bring better quality care at lower costs.
Conrad Floor Statement on Senate Health Plan – Dec. 22, 2009
Charts Used in Floor Statement on Senate Health Plan – Dec. 22, 2009
Conrad Floor Statement on GOP Amendments to Senate Health Plan – Dec. 7, 2009
Charts Used in Floor Statement on GOP Amendments to Senate Health Plan – Dec. 7, 2009
Conrad Floor Statement on Senate Health Plan – Nov. 20, 2009
Charts Used in Floor Statement on Senate Health Plan – Nov. 20, 2009
Conrad Statement on CBO Estimate of Senate Health Plan – Nov. 19, 2009
The health care reform plan presented by Senate Finance Committee Chairman Max Baucus represents a very good start in the effort to reform our nation’s health care system. The plan would promote choice and competition; reduce deficits and control costs; expand coverage; and improve the quality of care. Importantly, the plan is fully paid for over the first ten years and would bend the long-term cost curve on health care in the right way.
Conrad Statement on Official 2009 Deficit Total – Oct. 16, 2009
Charts Used in Closing Statement at Markup of Finance Health Plan – Oct. 13, 2009
Conrad Floor Statement on CBO Estimate of Finance Health Plan – Oct. 8, 2009
Charts Used in Floor Statement on CBO Estimate of Finance Health Plan – Oct. 8, 2009
Conrad Statement on CBO Estimate of Finance Health Plan – Oct. 7, 2009
Conrad Opening Statement at Markup of Baucus Health Plan – Sep. 22, 2009
Charts Used at Markup of Baucus Health Reform Plan – Sep. 22, 2009
Press Release on Baucus Health Reform Plan – Sep. 16, 2009
On April 29, Congress passed the Fiscal Year 2010 Budget Resolution. The fiscal plan preserves the major priorities in President Obama’s budget. It invests in energy, education, and health care – laying a new foundation for our nation’s economy. It provides significant middle-class tax relief, directed at families with incomes under $250,000. And it begins to put the country back on a more fiscally responsible path by cutting the deficit in half by 2012 and by two-thirds by 2014 – bringing the deficit down to three percent of GDP. Passage of the budget marks the third straight year the Democratically-controlled Congress has adopted a budget.
Conrad Statement on Re-Nomination of Ben Bernanke – Aug. 25, 2009
Conrad Statement on OMB & CBO Budget Reports – Aug. 25, 2009
Conrad Statement at Hearing on CBO Long-Term Budget Outlook – July 16, 2009
Charts Used in Hearing on CBO Long-Term Budget Outlook – July 16, 2009
Conrad Statement on FY 2009 Deficit Surpassing $1 Trillion – July 14, 2009
Conrad Statement on CBO Report on Long-Term Budget Outlook – June 25, 2009
Conrad-Gregg Joint Statement on CBO Letter on Health Reform – June 16, 2009
CBO Letter to Conrad-Gregg on Health Reform and Long-Term Budget – June 16, 2009
Conrad Statement on Administration’s Statutory Paygo Proposal – June 9, 2009
Conrad-Gregg Letter to CBO on Health Care/Long-Term Fiscal Imbalance – June 9, 2009
Conrad Statement on Social Security and Medicare Trustees Report – May 12, 2009
Conrad Statement on Release of Final Obama Budget Volumes – May 11, 2009
Conrad Statement on Obama Budget Spending Detail – May 7, 2009
Conrad Statement on Administration Crackdown on Tax Haven Abuse – May 4, 2009
Press Release on Senate’s Final Approval of Budget – Apr. 29, 2009
Conrad Floor Stmts. During Debate on Budget Conference Agreement – Apr. 29, 2009
Charts Used in Floor Debate on Budget Conference Agreement – Apr 29, 2009
Conrad Opening Floor Statement on Budget Conference Agreement – Apr. 29, 2009
Charts Used in Opening Floor Stmt. on Budget Conference Agreement – Apr 29, 2009
Overview of Budget Conference Agreement– Apr. 27, 2009
Press Release on Budget Conference Agreement – Apr. 27, 2009
Conrad Remarks at Budget Conference Meeting – Apr. 27, 2009
Charts Used at Budget Conference Meeting – Apr 27, 2009
On April 2, the Senate passed the FY 2010 Senate Budget Resolution. The resolution takes an important step toward adopting the core priorities laid out in President Obama’s budget plan. It reduces our nation’s dependence on foreign energy, supports excellence in education, facilitates reform of our health care system, and provides significant middle-class tax relief. It also cuts the deficit in half by 2012 and by two-thirds by 2014 – bringing the deficit down to just 2.9 percent of GDP.
Floor Statement on Motion to Instruct Conferees on Spending – Apr. 23, 2009
Charts Used in Floor Stmt. on Motion to Instruct Conferees on Spending – Apr 23, 2009
Opening Floor Statement on Motions to Instruct Conferees – Apr. 23, 2009
Charts used in Opening Floor Statement on Motions to Instruct Conferees – Apr 23, 2009
Conrad Statement on Senate Passage of Senate Budget Resolution – Apr. 2, 2009
Conrad Floor Statement During Debate on Senate Budget Resolution – Apr. 2, 2009
Conrad Floor Statement on McCain Budget Alternative Amendment – Apr. 2, 2009
Conrad Floor Statement During Debate on Senate Budget Resolution – Mar. 31, 2009
Charts Used in Floor Debate on FY 2010 Senate Budget Resolution – Mar. 31, 2009
Conrad Floor Statement During Debate on Senate Budget Resolution – Mar. 30, 2009
Charts Used in Floor Debate on FY 2010 Senate Budget Resolution – Mar. 30, 2009
Opening Floor Statement on FY 2010 Senate Budget Resolution – Mar. 30, 2009
Charts Used in Opening Floor Stmt on Senate Budget Resolution – Mar. 30, 2009
Conrad Remarks at Press Conf Call on Senate Debate of Budget – Mar. 30, 2009
Committee Print: FY 2010 Budget Resolution – Mar. 30, 2009
The Chairman’s Mark for the Fiscal Year 2010 Senate Budget Resolution is a fiscally responsible budget plan that addresses the fiscal and economic crises inherited by the Obama Administration and lays the foundation for long-term economic security. It preserves the major priorities in President Obama’s budget: reducing our dependence on foreign energy; striving for excellence in education; and reforming our health care system. It provides significant middle-class tax relief, directed at families with incomes under $250,000. And it cuts the deficit in half by 2012 and by two-thirds by 2014.
Conrad Statement at Markup of FY 2010 Senate Budget Resolution – Mar. 26, 2009
Conrad Stmt on Budget Cmte Passage of Senate Budget Resolution – Mar. 26, 2009
Summary of Chairman’s Mark for FY 2010 Senate Budget Resolution – Mar. 25, 2009
Chairman's Mark for FY 2010 Senate Budget Resolution – Mar. 25, 2009
Conrad Statement at Markup of FY 2010 Senate Budget Resolution – Mar. 25, 2009
Charts Used at Markup of FY 2010 Senate Budget Resolution – Mar. 25, 2009
President Obama’s FY 2010 budget blueprint, “A New Era of Responsibility: Renewing America’s Promise,” takes important steps toward reducing our dependence on foreign energy, striving for excellence in education, and reforming our health care system. And it cuts the deficit by more than half by 2012.
Conrad Statement on CBO Reestimate of President Obama’s Budget – Mar. 20, 2009
Conrad Stmt at Hearing on Budget with Treas. Sec. Geithner – Mar. 12, 2009
Charts Used at Hearing on Budget with Treasury Secretary Geithner – Mar. 12, 2009
Conrad Stmt. at Hearing on Energy Budget with Energy Secretary Chu – – Mar. 11, 2009
Charts Used at Hearing on Energy Budget with Energy Secretary Chu – Mar. 11, 2009
Conrad Statement at Hearing on Budget with OMB Director Orszag – – Mar. 10, 2009
Charts Used at Hearing on Budget with OMB Director Orszag – Mar. 10, 2009
Brief Analysis of President Obama’s FY 2010 Budget – Feb. 27, 2009
Conrad Remarks at Press Conf. on President Obama’s FY 2010 Budget – Feb. 26, 2009
Charts Used in Press Conference on President Obama’s FY 2010 Budget – Feb. 26, 2009
Conrad Statement on President Obama’s FY 2010 Budget – Feb. 26, 2009
Conrad Statement on President’s Fiscal Responsibility Summit – Feb. 23, 2009
CBO's January 2009 Budget and Economic Outlook shows that President-elect Obama is being handed a fiscal disaster. CBO is now showing a deficit of approximately $1.2 trillion in 2009, more than two-and-a-half times last year's record deficit. And notably, CBO's estimate does not include the cost of the economic recovery package being considered. CBO's ten-year outlook confirms that with current policies we will see record deficits for years to come. And over the long-term, the combination of the retiring baby boom generation, rising health care costs, and inadequate revenues will make matters even worse – exploding deficits and debt to clearly unsustainable levels.
Conrad Stmt. at Hearing on Budget Resolution & Reconciliation Process – Feb. 12, 2009
Charts Used in Hearing on Budget Resolution and Reconciliation Process – Feb. 12, 2009
Conrad Stmt. at Hrng. on Financial & Housing Crises w/ Geithner– Feb. 11, 2009
Charts Used in Hrng. on Financial & Housing Crises w/ Geithner – Feb. 11, 2009
Conrad Statement at Hearing on Health Reform – Feb. 10, 2009
Charts Used in Hearing on Health Reform – Feb. 10, 2009
Conrad Floor Statement on Economic Recovery Bill – Feb. 6, 2009
Charts Used in Press Conf. with Former U.S. Comptroller General Walker – Feb. 5, 2009
Conrad Remarks at Press Conf. w/ Former U.S. Comptroller General Walker – Feb. 5, 2009
Conrad Statement on Nomination of Gregg to be Commerce Secretary – Feb. 3, 2009
Conrad Statement at Hearing on Global Economy – Jan. 29, 2009
Charts Used in Hearing on Global Economy – Jan. 29, 2009
Conrad Statement at Hearing on Housing and Financial Crisis – Jan. 28, 2009
Charts Used in Hearing on Housing and Financial Crisis – Jan. 28, 2009
Conrad-Kerry Oped in Wall Street Journal on Helping the Economy – Jan. 26, 2009
Conrad Statement on Appointment of Elmendorf to be CBO Director – Jan. 22, 2009
Press Release on Budget Committee Membership for 111th Congress – Jan. 22, 2009
Conrad Stmt at Hearing on Short- and Long-Term Fiscal Challenges – Jan. 21, 2009
Charts Used in Hearing on Short- and Long-Term Fiscal Challenges – Jan. 21, 2009
Conrad-Gregg Stmt on Proposed Obama Fiscal Responsibility Summit - Jan. 16, 2009
Conrad Stmt at Hearing on Debt Outlook and Implications for Policy - Jan. 15, 2009
Charts Used in Hearing on Debt Outlook and Implications for Policy - Jan. 15, 2009
Conrad Stmt at Hearing on Nominations of Orszag and Nabors to OMB - Jan. 13, 2009
Charts Used in Hearing on Nominations of Orszag and Nabors to OMB - Jan. 13, 2009
Conrad Statement at Hearing on CBO January Budget Outlook - Jan. 8, 2009
Charts Used in Hearing on CBO January Budget Outlook - Jan. 8, 2009
Conrad Remarks at Press Conference on CBO January Budget Outlook - Jan. 7, 2009
Charts Used in Press Conference on CBO January Budget Outlook - Jan. 7, 2009
Conrad Statement on CBO January Budget Outlook - Jan. 7, 2009
Conrad Statement on CBO Release of Two New Reports on Health Care - Dec. 18, 2008
Conrad Statement on Selection of Peter Orszag as OMB Director - Nov. 25, 2008
Conrad Statement on Announcement of Obama Economic Team - Nov. 24, 2008
Conrad Statement at Hearing on the Economic Outlook & Stimulus - Nov. 19, 2008
Charts Used in Hearing on the Economic Outlook & Stimulus - Nov. 19, 2008
On October 1 and 3, the Senate and House, respectively, passed the Emergency Economic Stabilization Act of 2008, a bipartisan plan to rescue the nation's failing economy. The plan includes a number of critical taxpayer protections that were not included in President Bush's original proposal. Notably:
• Taxpayers will receive an equity stake in companies participating, so they have a potential to profit when markets recover. • Funding will be released in three installments, instead of a lump sum, to allow for additional Congressional review. • An oversight board will ensure that the Treasury actions protect taxpayers. • No ‘golden parachutes' will be allowed – with executive compensation capped for companies participating. • And the FDIC insurance cap will be raised to $250,000 per bank account.
Conrad Statement Official 2008 Deficit Total - Oct. 14, 2008
Conrad Statement Following Senate Approval of Financial Rescue Plan - Oct. 1, 2008
Floor Statement on Financial Rescue Plan - Oct. 1, 2008
Charts Used in Floor Statement on Financial Rescue Plan - Oct. 1, 2008
The next President will be inheriting a budget and economic outlook that is far worse than most people realize. CBO's summer budget update confirms that President Bush and his Republican colleagues are handing off a fiscal mess to the next Administration. They have plunged our nation into a chasm of deficits and debt. And their irresponsible fiscal policies are leaving behind an economy that is weak and getting weaker.
Conrad Statement on 2008 Budget Deficit - Oct. 7, 2008
Floor Statement on Paygo Point of Order on Extender-AMT Amendment - Sept. 23, 2008
Charts Used on Paygo Point of Order on Extender-AMT Amendment - Sept. 23, 2008
Floor Statement on Fully-Offset AMT Amendment - Sept. 23, 2008
Charts Used in Floor Statement on Fully-Offset AMT Amendment - Sept. 23, 2008
Conrad Remarks at Press Conference Responding to GOP Deficit Claims - Sept. 9, 2008
Charts Used in Press Conference Responding to GOP Deficit Claims - Sept. 9, 2008
Conrad Statement Responding to GOP Deficit Claims - Sept. 9, 2008
Conrad Statement on CBO Summer Budget Update - Sept. 9, 2008
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