We had to do more on the spending cuts side of the ledger, substantially more, but that we also had to do something on the revenue side if we are going to bell this cat in some kind of fair way.
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Kent Conrad discusses the need for spending cuts and revenue adjustments.
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You know, we met with a Congressman on the Ways and Means Committee this morning, and we were on a subject related to this. You really see it with our elderly people who do not have options or options are closing in on them.
I would say to you, as I looked at this, I saw Social Security as the bedrock.
We all know that Social Security is going to have to be dealt with, or we are going to face by 2034 at the latest--many of us believe it will be earlier than that---an across-the-board 23-percent cut.
If you are really going to relieve me of the administrative burden, if you are going to really relieve me of the liability, if you are going to really relieve me of the cost other than the payroll transfer.





