bill, and the gramm-rudman bill was basically automatic spending cuts if we couldn't get that deficit down, and all of washington had palpitations over this but as one of the few times, senator, we actually cut spending under that gramm-rudman bill and has been a crusader as well and also hails from the great state of texas or give a warm welcome to phil gramm of texas. [applause] >> thank you, steve. well, nobody told me that i could say anything. i will say a few things. president reagan once put his arm around me and said, i want you to look me in the eye, and he said, half weinberger tells me that your gramm-rudman is more dangerous than soviet menace. [laughing] will you assure me that that's not the case? i said yes, mr. president, i'll assure you it's not the case. well, dick and i were destined to become friends because we were both from texas, where both economists, and we both came to washington because we wanted less government and more freedom. there is not a lot of people who come to government with the idea of having last of the very institution they come to be part of.

he said, cap weinberger tells me that your gramm-rudman is more dangerous than the soviet menace. will you assure me that that's not the case? and i said yes, mr. president, i'll assure you that's not the case. well, dick and i were destined to become friends because we were both from texas, we were both economists and we both came to washington because we won less government and more freedom. a there's not a lot of people who come to government with the idea of having less of the very institution they come to be part of. the thing i always found was very interesting and i never lost my sort of all of it, and that was that dick always had this view that hee was like y in the soviet union that had become a leader of the central committee, and was one of the people actually running the soviet union. so that when we got together it was sort of like i was there as his american handler and he was telling me what we were actually doing inside the belly of the beast. and i'd never ceased to find that fascinating. i serve in washington for quarter of a century, and i dealt with a lot of p

the gramm-rudman bill was no spending cuts if we could get the deficit down and all of washington had heart palpitations over this but it was one of the few times that wy cut spending under the gramm-rudman bill and he's been a crusader and hails from the great state of texas. give him a niceic warm welcome o phil gramm of texas. [applause] >> thank you steve. nobody told me i was going to say anything. i will say a few things. president reagan put his arm around me and he looked me in the eye and he said weinberger tells i me your croom redman is more dangerous than the sovietwe ministry. will you assure me that that's not true? and i said yes mr. president i will assure you that's not true. dick and i were destined to become friends because we are both in texas and we are both economists and we both wanted less government. there's not a lot of people who come to government with the idea idea -- institutions that come to be part of. i never lost my awe of it and that was dick have this view that had become a the leader of the central committee and was oneov of the people running it.