Senator Kent Conrad Joins the Announcement Effect Club

From the Chairman's Mark of the FY2011 Senate Budget Resolution (emphasis added):

Certainly, the need to return to fiscal discipline and the costs of delaying fiscal reforms must be balanced against the ongoing need to ensure the economy stays on the path of a sustainable recovery. By making a credible commitment today to reduce the federal debt once the economy has moved more solidly into recovery, the federal government would reduce current uncertainty about future fiscal policy and gain some flexibility in supporting the recovery. Moreover, achieving and maintaining fiscal balance will ultimately afford the federal government the ability to respond aggressively to future emergencies.

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