Well, if his amendment costs another $458 billion, it is not offset. And in a typical bond auction now conducted by the United States, over half of the money, well over half now, is money from abroad. So you can take well over half of the $458 billion, and it would be added to this external debt.
Discussing the financial implications of an amendment during a budget debate.
Share
More from Kent Conrad
I do, and I made that argument to the commission, and others on the commission made some of the points that you are making now.
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.
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.
Other voices in this conversation
