On the recordJanuary 6, 2011
the biggest threat to our national security is our national debt.
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congress.govthe biggest threat to our national security is our national debt.
Kent Conrad emphasizes the national debt as a major security threat.
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We very much see it as a package. That is the way it was negotiated, and this was a difficult negotiation to get 18 of the 19 to agree representing all points on the political spectrum.
What happens is those people, if the children are not able to care for them, they are going into institutions, but where is that being paid for? Overwhelmingly, it is being paid for out of Medicaid accounts.
What we have done is we recommend harmonizing withdrawal rules for 401(k)'s and IRAs.
We also increase the payroll tax very modestly, from the current combined rate of 12.4 percent to 13.4 percent over 10 years.