These budgets, all of them in all of the Federal Government, this is not going to work.
Editor's note · Context
Conrad expresses skepticism about the sustainability of current federal budgets.
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We create a basic minimum benefit that will apply to about 10 percent of Social Security.
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.
If we are going to provide tax incentives for people to have retirement savings, then it should not be used as a piggy bank to pay for other things.
I would just say our Retirement Security Plans and our Retirement Security Clearinghouses are responding to the underlying dynamic that Professor Mead has done such a good job in describing.





