From remarks before the Senate Nov. 30 by Sen. Robert Dole (R-Kan.):
The stock market closed a few moments ago down 76 points. I think that is another indication that we have a lot of work to do, and that little, measly package that we put together after about 30 days of effort I know will be attacked by some as not enough and talked about by others as doing too much in some areas. It does seem to me that we have a real responsibility now to move as quickly as we can because the commentators are starting to say, "Well, Congress can't even pass this little package." And it is not a very big package. It is a baby step in deficit reduction. . . .
I would guess that in that four-week period there were 20 or more different options considered. Whether the drop in the market today was because of a lack of confidence, I do not know -- a lack of confidence in the White House, a lack of confidence in the Congress, a combination of each. But I think I do know that if we do not act very quickly on what we did put together and what is now supported by the leadership in the Congress and the president of the United States, then we are going to have more and more difficulty in the next few weeks as far as not only the stock market is concerned but the economy generally, and the signal we send not just around this country but around the world.
I hope this drop is only temporary. We have just finished our 60th month of economic growth. That is five years. That is a great record. But I do believe that the deficit is public enemy No. 1. Until we address it, it is going to be right out there causing us problems down the road.