Kent Conrad: “I want to thank you for your support and the President's support of an idea I put out last year to take up to $7,500 tax…”

The consequence of failure has to be made clear.

I wish I could look you in the eye and say, you know, if we just had the will, we could reverse this, and we could go back to a time when defined benefit plans were on the increase. I do not think that is in the cards.

There is going to be a 23-percent cut across the board by 2034.

That I like to call the 'Conrad provision.'