Kent Conrad: “I believe that we are already in the early stages of a fiscal train wreck.”

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.

We tried to include some of these ideas in our Social Security reform package, to actually provide incentives in the system for people to continue to work.

The bottom 20 percent of earners get a 35-percent increase over what is scheduled, a more than 60-percent increase over what is payable.

We admire that, and I can say on both sides of the aisle, people recognize the job he did as Budget Committee Chairman.