Kent Conrad: “I think you need to have a plan that takes a series of votes now that makes these changes over time.”

Social Security's financial challenge affects nearly our entire society, and the solutions will require a broad-based approach.

The one thing I know for sure is that what is happening now is not working.

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.

We did a whole series of things in our Social Security reform not to discourage people from working, but to encourage them to continue working if they are able to do so.