Kent Conrad: “I remember when our previous Vice President said that deficits don't matter, and, in fact, we all know that they do.”

Millions of Americans are financially unprepared for their retirement.

Can I just respond quickly, Mr. Chairman, and say when Simpson-Bowles went down, a group of six of us in the Senate, three Democrats, three Republicans, were asked by leadership to see if we couldn't come up with a way forward to adopt the…

Things are changing very rapidly, and it presents us with a requirement to change how we envision retirement as well.

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.