Kent Conrad: “I am a strong advocate of PAYGO, but to me this is way beyond what PAYGO can do.”

I do, and I made that argument to the commission, and others on the commission made some of the points that you are making now.

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

Millions of Americans are financially unprepared for their retirement.

It was incredibly important that we not only made Social Security solvent, but we lifted the bottom 20 percent dramatically.