Let us compare fairly. The Exon-Grassley proposal, $1.6 billion in actual spending reductions in this year; the Domenici proposal, zero. In 1996, Grassley-Exon $6.4 billion, Domenici $300 million. In 1997, Exon $5.6 billion, Domenici $1.9 billion. The back loading is all in the proposal by the Senator from New Mexico--$19.1 billion of his $26 billion of cuts in the last year.
Discussing spending reductions in comparison to different budget proposals.
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I would just say in this whole area of lifetime income options, there is a tremendous opportunity here.
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.
It takes guts to do that, and Chairman Arrington, you have certainly led the charge on having a commission.
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