LAST UPDATED:
November 25, 2008
12:27 PM ET

CONGRESS PASSES FINANCIAL RESCUE PLAN
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.

      NEW: Conrad Statement on Selection of Peter Orszag as OMB Director - Nov. 25, 2008
      NEW:
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
     
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

CBO BUDGET UPDATE SHOWS FISCAL MESS BEING HANDED OFF TO NEXT ADMINISTRATION
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

MID-SESSION REVIEW CONFIRMS FAILURE OF BUSH FISCAL POLICIES
OMB's FY 2009 Mid-Session Review confirms that President Bush will be remembered as the most fiscally irresponsible President in our nation's history. Americans are worse off and our economy is in worse shape because of his reckless fiscal policies. With his eight years in office, he will have had the five highest deficits ever recorded. And the highest of those deficits, $482 billion, is now projected to come in 2009, as he leaves office.

      Conrad Statement on CBO Report on Contractors in Iraq - Aug. 12, 2008
      CBO Report on Contractors' Support of U.S. Operations in Iraq - Aug. 12, 2008
      Conrad Statement at Press Conference on OMB Mid-Session Review - July 28, 2008
      Charts Used in Press Conference on OMB Mid-Session Review - July 28, 2008
      Conrad Statement on OMB Mid-Session Review - July 28, 2008

CONGRESS ADOPTS FY 2009 BUDGET RESOLUTION
On June 4 and 5, the Senate and House, respectively, passed the Fiscal Year 2009 Budget Resolution – marking the first time Congress has adopted a budget during an election year since 2000. The resolution charts a new way forward for the country. It provides tax relief for the middle class; makes needed investments in energy, education, and infrastructure; and supports our troops and veterans. And the resolution restores fiscal responsibility – complying with a strong pay-as-you-go rule and returning the budget to surplus in 2012 and 2013, without raising taxes.

      Conrad Statement at Finance Hearing on Tax Havens - July 24, 2008
      Charts Used at Finance Hearing on Tax Havens - July 24, 2008
      Conrad Statement on CBO Analysis on AMT Cost - July 17, 2008
      CBO Analysis on Long-Term Effects of AMT Fix - July 17, 2008
      Conrad Statement Following House's Final Approval of Budget - June 5, 2008
      Press Release on Senate's Final Approval of Budget - June 4, 2008
      Floor Statement on Senate's Final Approval of Budget - June 4, 2008
      Charts Used in Closing Floor Statement on Budget - June 4, 2008
      Floor Statement on Budget Conference Agreement - May 21, 2008
      Charts Used During Debate on Budget Conference Agreement - May 21, 2008
      Opening Floor Statement on Budget Conference Agreement - May 21, 2008
      Charts Used in Opening Floor Stmt on Budget Conference Agreement - May 21, 2008
      Conrad-Spratt Press Release on Budget Conference Agreement - May 20, 2008
      Overview of Budget Conference Agreement - May 20, 2008
      Conrad Remarks at Budget Conference Meeting - May 20, 2008
      Charts Used at Budget Conference Meeting - May 20, 2008
      Floor Statement on Motion to Instruct on Taxes - May 15, 2008
      Charts Used in Floor Statement on Taxes - May 15, 2008
      Floor Statement on Motion to Instruct on AMT and Extenders - May 15, 2008
      Charts Used in Floor Statement on AMT and Extenders - May 15, 2008
      Floor Statement on Motion to Instruct on Spending - May 15, 2008
      Charts Used in Floor Statement on Spending - May 15, 2008

FY 2009 SENATE BUDGET RESOLUTION: STRENGTHENING THE ECONOMY, MAKING AMERICA SAFER
The Fiscal Year 2009 Senate Budget Resolution strengthens the economy, creates jobs, and makes America safer. It responds to the current economic slowdown by providing additional stimulus for the economy, tax relief for the middle class, and makes needed investments in energy, education, infrastructure, and health care. It supports our troops, provides for our veterans, and protects the homeland. And it reaches balance in 2012 and 2013, without raising taxes.

      Conrad Statement on CBO Report on Housing Crisis and Financial Markets- Apr 11, 2008
      CBO Report on Housing Crisis and Financial Markets - Apr 11, 2008
      Transcript of Conrad Delivering Democratic Radio Address - Mar 15, 2008
      Listen to Senator Conrad Delivering the Democratic Radio Address - Mar 15, 2008
      Press Release on Final Passage of the FY 2009 Budget Resolution - Mar 14, 2008
      Closing Floor Statement on FY 2009 Senate Budget Resolution - Mar 13, 2008
      Charts Used in Closing Floor Statement on FY 2009 Senate Budget Resolution - Mar 12, 2008
      Floor Statement During Debate on FY 2009 Senate Budget Resolution - Mar 12, 2008
      Charts Used in Floor Statement - Mar 12, 2008
      Floor Statement During Debate on FY 2009 Senate Budget Resolution - Mar 11, 2008
      Charts Used in Floor Statement - Mar 11, 2008
      Opening Floor Statement on FY 2009 Senate Budget Resolution - Mar 10, 2008
      Charts Used in Opening Floor Stmt on FY 2009 Senate Budget Resolution - Mar 10, 2008
      Conrad Stmt on Committee Passage of FY 2009 Senate Budget Resolution - Mar 6, 2008
     Chairman's Mark FY 2009 Mar. 5, 2008
      Summary of FY 2009 Senate Budget Resolution - Mar 5, 2008
      Conrad Statement at Markup of FY 2009 Senate Budget Resolution - Mar 5, 2008
     Charts Used in Markup of FY 2009 Senate Budget Resolution - Mar 5, 2008

BUSH FY 2009 BUDGET: MORE OF SAME FAILED FISCAL POLICIES
President Bush’s FY 2009 Budget proposes more of the same failed fiscal policies the President has embraced throughout his time in office – more deficit-financed war spending, more deficit-financed tax cuts tilted to benefit the wealthiest, and more borrowing from foreign nations like China and Japan. The result can only be the same – a further explosion of debt and the undermining of our nation’s economic security. This budget will be quickly forgotten. But, unfortunately, the President’s legacy of debt will stay with us, as it is passed on to future generations.

      Press Release on CBO Report on Geographic Variation - Feb. 15, 2008
      CBO Report on Geographic Variation in Health Care Spending - Feb. 15, 2008
      Conrad Statement on Resignation of GAO Comptroller General Walker - Feb. 15, 2008
      Conrad Statement at Hearing on Health IT - Feb. 14, 2008
      Charts Used at Hearing on Health IT - Feb. 14, 2008
      Conrad Remarks at Press Conference on Impact of Bush Budget - Feb. 12, 2008
      Charts Used at Press Conference on Impact of Bush Budget - Feb. 12, 2008
      Conrad Statement at Hearing on Defense Budget and War Costs - Feb. 12, 2008
      Charts Used at Hearing on Defense Budget and War Costs - Feb. 12, 2008
      Conrad Statement at Hearing with Treasury Secretary Paulson - Feb. 6, 2008
      Charts Used at Hearing with Treasury Secretary Paulson - Feb. 6, 2008
      Brief Analysis of Bush FY 2009 Budget - Feb. 5, 2008
      Floor Statement on Bush FY 2009 Budget and the Need for Stimulus - Feb. 5, 2008
      Charts Used in Floor Stmt on Bush FY 2009 Budget and the Need for Stimulus - Feb. 5, 2008
      Conrad Statement at Hearing with OMB Director Nussle - Feb. 5, 2008
      Charts Used at Hearing with OMB Director Nussle - Feb. 5, 2008
      Conrad Remarks at Press Conference on Bush FY 2009 Budget - Feb. 4, 2008
      Charts Used at Press Conference on Bush FY 2009 Budget - Feb. 4, 2008
      Conrad Statement on Release of President Bush's FY 2009 Budget - Feb. 4, 2008
 

CBO JANUARY BUDGET AND ECONOMIC OUTLOOK SHOWS WORSENING DEFICIT IN 2008
CBO’s new projections show that the deficit will worsen in 2008, due, at least in part, to our slowing economy. And CBO’s baseline projections actually understate the likely short-term deficit levels, because they exclude expected costs such as a stimulus package and additional war funding requested by President Bush. Once these costs are added in, the deficit in 2008 is likely to exceed $350 billion, and the debt is likely to increase by over $600 billion.

      Conrad Statement at Hearing on Health Care Spending - Jan. 31, 2008
      Charts Used in Hearing on Health Care Spending - Jan. 31, 2008
      Conrad Statement at Hearing on Economic Stimulus - Jan. 30, 2008
      Charts Used in Hearing on Economic Stimulus - Jan. 30, 2008
      Conrad Statement at Hearing on the Long-Term Budget Outlook - Jan. 29, 2008
      Charts Used at Hearing on the Long-Term Budget Outlook - Jan. 29, 2008
      Conrad Statement on President Bush's Final State of the Union Address - Jan. 28, 2008
      Fact Sheet on CBO January Budget Outlook - Jan. 24, 2008
      Conrad Statement at Hearing on CBO January Budget Outlook - Jan. 24, 2008
      Charts Used at Hearing on CBO January Budget Outlook - Jan. 24, 2008
      Conrad Statement on CBO January Budget Outlook - Jan. 23, 2008
      Conrad Statement on Fiscal Stimulus - Jan. 22, 2008
      Conrad Statement on CBO Report on Fiscal Stimulus - Jan. 15, 2008
      CBO Letter to Chairman Conrad on Fiscal Stimulus - Jan. 15, 2008
      CBO Report on Fiscal Stimulus - Jan. 15, 2008
      Conrad Statement on CBO Monthly Budget Review - Jan. 7, 2008
 

CONRAD AND GREGG INTRODUCE BIPARTISAN FISCAL TASK FORCE
Chairman Conrad and Ranking Member Gregg have joined forces to offer the Bipartisan Task Force for Responsible Fiscal Action Act, a blueprint for prompting swift, bipartisan action to substantially improve the nation’s long-term fiscal imbalances.

      Floor Statement on Offsetting AMT - Dec. 19, 2007
      Charts Used in Floor Statement on offsetting AMT - Dec. 19, 2007
      Conrad/Baucus Release on CBO Report on Comparative Effectiveness - Dec. 18, 2007
      Conrad Statement on CBO Report on Long-Term Budget Outlook - Dec. 13, 2007
      Floor Statement on AMT and Paygo - Dec. 6, 2007
      Conrad/Gregg Press Release on NFIB Endorsement of Task Force - Dec. 6, 2007
      NFIB Statement of Support of Bipartisan Fiscal Task Force - Dec. 6, 2007
      Floor Statement on Bush Fiscal Record, Paygo, and Farm Bill - Nov. 16, 2007
      Charts Used in Floor Statement on Bush Record, Paygo, and Farm Bill - Nov. 16, 2007
      Conrad/Gregg Press Release on Bipartisan Fiscal Task Force Hearing - Oct. 31, 2007
      Transcript of Press Gaggle after Hearing on Bipartisan Fiscal Task Force - Oct. 31, 2007
      Conrad Remarks at Hearing on Bipartisan Fiscal Task Force - Oct. 31, 2007
      Charts Used in Hearing on Bipartisan Fiscal Task Force - Oct. 31, 2007
      Conrad/Gregg Press Release Announcing Bipartisan Fiscal Task Force Hearing - Oct. 25, 2007
      Floor Statement on AMT and Paygo - Oct. 18, 2007
      Conrad Statement on Official 2007 Deficit Total - Oct. 11, 2007
      Floor Statement on Debt Limit - Sept. 27, 2007
      Charts Used in Floor Statement on Debt Limit - Sept. 27, 2007
      Conrad/Gregg Oped on Bipartisan Fiscal Task Force - Sept. 26, 2007
      Transcript of Press Conference Introducing Bipartisan Fiscal Task Force - Sept. 18, 2007
      Conrad/Gregg Floor Statements on Bipartisan Fiscal Task Force - Sept. 18, 2007
      Charts Used in Floor Statement on Bipartisan Fiscal Task Force - Sept. 18, 2007
      Conrad/Gregg Press Release on Bipartisan Fiscal Task Force - Sept. 18, 2007
      Chart Summary of Bipartisan Fiscal Task Force - Sept. 18, 2007
      Fact Sheet on Bipartisan Fiscal Task Force - Sept. 18, 2007
      GAO Comptroller General Walker Statement of Support - Sept. 18, 2007
      Concord Coalition Statement Statement of Support - Sept. 18, 2007
      Committee for a Responsible Federal Budget Statement of Support - Sept. 18, 2007
 

MID-SESSION REVIEW FAILS TO CHANGE BUSH FISCAL RECORD
Nothing in the Bush Administration's Mid-Session Review changes the failed fiscal record of President Bush. He has increased spending by nearly 50 percent since taking office, while at the same time repeatedly cutting taxes primarily on the wealthiest. The result has been that the $5.6 trillion projected surplus he inherited has been wiped out. And debt has exploded on his watch – rising from $5.8 trillion in 2001 to approximately $9 trillion by the end of this year.

      Floor Statement on Paygo and Reconciliation - Sept. 12, 2007
      Charts Used in Floor Statement on Paygo and Reconciliation - Sept. 12, 2007
      Conrad Remarks at Finance Committee Markup of Debt Limit Increase - Sept. 12, 2007
      Charts Used in Finance Committee Markup of Debt Limit Increase - Sept. 12, 2007
      Conrad Remarks at Hearing on Universal Health Coverage - Sept. 11, 2007
      Charts Used in Hearing on Universal Health Coverage - Sept. 11, 2007
      Floor Statement on Vote Against Nussle Nomination as OMB Director - Sept. 4, 2007
      Charts Used in Floor Statement on Vote Against Nussle Nomination - Sept. 4, 2007
      Conrad Statement on Voting Against Nussle Nomination as OMB Director - Sept. 4, 2007
      Conrad Statement on CBO August Budget Update - Aug. 23, 2007
      Conrad Calls for Resignation of St. Louis Federal Reserve Bank President - Aug. 20, 2007
      Conrad Statement after Vote on Nussle Nomination to be OMB Director - Aug. 2, 2007
      Conrad Remarks at Hearing on Nussle Nomination to be OMB Director - July 26, 2007
      Charts Used in Hearing on Nussle Nomination to be OMB Director - July 26, 2007
      Conrad Statement Responding to President Bush's Budget Comments - July 19, 2007
      Conrad Statement Announcing Hearing on OMB Director Nominee - July 18, 2007
      Conrad Remarks at Press Conference on OMB Mid-Session Review - July 11, 2007
      Charts Used in Press Conference on OMB Mid-Session Review - July 11, 2007
      Conrad Statement on OMB Mid-Session Review - July 11, 2007
      Conrad Stmt. Reacting to Bush Administration Deficit Announcement - July 11, 2007
 

CONGRESS ADOPTS FY 2008 BUDGET RESOLUTION
On May 17, the Senate and House adopted the Fiscal Year 2008 Budget Resolution. The Budget Resolution provides a fiscally responsible plan for our country. It funds critical national priorities, such as kids' health, education, and veterans' health care, while returning the budget to surplus by 2012. And it achieves this goal without raising taxes.

      Conrad Statement After Meeting with OMB Director Nominee Nussle - June 26, 2007
      Conrad Stmt at Hearing on Healthy Americans Act and Other Options - June 26, 2007
      Charts Used in Hearing on Healthy Americans Act and Other Options - June 26, 2007
      Conrad Statement at Hearing on Health Care with CBO Director Orszag - June 21, 2007
      Charts Used in Hearing on Health Care with CBO Director Orszag - June 21, 2007
      Conrad Statement on Portman Resignation - June 19, 2007
      Fact Sheet on Revenues in Budget - May 22, 2007
      Conrad Remarks after Final Passage of Budget - May 17, 2007
      Chart Used after Final Passage of Budget - May 17, 2007
      Floor Statement in Debate on Budget Conference Agreement - May 17, 2007
      Charts Used in Debate on Budget Conference Agreement - May 17, 2007
      Opening Floor Stmt on Budget Conference Agreement - May 17, 2007
      Charts Used in Opening Floor Stmt on Budget Conference Agreement - May 17, 2007
      Conrad Remarks to Press on Budget Conference Agreement - May 16, 2007
      Charts on Budget Conference Agreement - May 16, 2007
      Conrad-Spratt Press Release on Budget Conference Agreement - May 16, 2007
      Overview of Budget Conference Agreement - May 16, 2007
 

FY 2008 SENATE BUDGET RESOLUTION: MEETING PRIORITIES WHILE RESTORING FISCAL RESPONSIBILITY
The Fiscal Year 2008 Senate Budget Resolution provides a fiscally-responsible budget plan for our country. It funds critical national priorities and reaches balance without raising taxes. While no single budget resolution can solve all of our budget challenges, this plan will begin to put the nation back on a sound fiscal path.

      Conrad Remarks After Passage of FY 2008 Senate Budget Resolution - Mar. 23, 2007
      Floor Statement - FY 2008 Senate Budget Resolution - Mar. 23, 2007
      Charts Used in Floor Statement - FY 2008 Senate Budget Resolution - Mar. 23, 2007
      Opening Floor Statement - FY 2008 Senate Budget Resolution - Mar. 20, 2007
      Charts Used in Opening Floor Statement - FY 2008 Senate Budget Res - Mar. 20, 2007
      Conrad Statement at Markup of FY 2008 Senate Budget Resolution - Mar. 14, 2007
      Charts Used in Markup of FY 2008 Senate Budget Resolution - Mar. 14, 2007
      Chairman's Mark: FY 2008 Senate Budget Resolution - Mar. 14, 2007
      Chairman's Mark: Text of Resolution - Mar. 14, 2007
      Fact Sheet on Revenues in FY 2008 Senate Budget Resolution - Mar. 14, 2007
      Summary of FY 2008 Senate Budget Resolution - Mar. 14, 2007
 


  • Conrad Statement on Official 2008 Budget Deficit - Oct. 14, 2008
  • Conrad Statement on 2008 Budget Deficit - Oct. 7, 2008
  • Conrad Statement on CBO Report on Contractors in Iraq 08/12/08
  • CBO Report on Contractors' Support of U.S. Operations in Iraq 08/12/08
  • Overview of Budget Conference Agreement 05/20/08
  • Brief Analysis of Bush FY 2009 Budget 02/05/08
  • Fact Sheet on CBO Budget Outlook 01/24/08
  • Broder Column on Bipartisan Fiscal Task Force 10/30/07
  • Conrad/Gregg Oped in The Hill on Bipartisan Fiscal Task Force 09/26/07
  • Press Release on Cost of 'Korea-Like' Presence in Iraq 09/20/07

  • Watch video of past budget hearings in the Hearings & Statements section

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  • Citizen's Guide to the Budget -- a beginner's guide to the budget.

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