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Article: SEN. CONRAD ADDRESSES OMB'S MID-SESSION REVIEW PRESS CONFERENCE
- Article from:
- US Fed News Service, Including US State News
- Article date:
- July 11, 2006
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The ranking Democratic member of the Senate Budget Committee issued the following remarks:
Transcript of Remarks by Sen. Kent Conrad (D-ND) at Press Conference on OMB's Mid Session Review:
The White House celebration today is much ado about not much. All of their comparisons are based on projections. If one makes the comparisons based on what actually occurred, here is what you would see. Last year the actual deficit was $318 billion. They are now forecasting this year's deficit at $296 billion. That's an improvement, but a very modest improvement.
What is much more striking is what is going to happen to the debt. The debt last year was $551 billion. The debt this year is going to grow by ...