Kent Conrad: “I don't think any of them understand it.”

You know, we did have discussions. One of the things on this commission, because of its makeup and the diversity of views on this commission, and the extraordinary difficulty of coming together on Social Security, which we thought was the…

I would say personally I would not go to a company advising me on wealth management that did not have it because I think whoever is advising me ought to have as their highest responsibility to be giving me advice that is in my interest.

We also increase the payroll tax very modestly, from the current combined rate of 12.4 percent to 13.4 percent over 10 years.

The new improvised system was not adequate.