Yes, not only the incoming administration, the whole country because our ability to cope with an economic downturn, the flexibility is substantially limited by what has already been done to dramatically increase the debt, as the Senator described, in good economic times. Unfortunately, that is the reality we now confront. Today's news by the Congressional Budget Office of not only the $1.2 trillion deficit this year but massive deficits as far as the eye can see should sober us all.
Kent Conrad: “Yes, not only the incoming administration, the whole country because our ability to cope with an economic downturn, the…”
Editor's note · Context
Discussing the economic challenges and deficits facing the country.
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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.
What is realistic is to deal with these changes in a way that does expand access, that does expand the opportunity for people to participate in a retirement plan at work.
I would say personally I would not go to a company advising me on wealth management that did not have it because I think whoever is advising me ought to have as their highest responsibility to be giving me advice that is in my interest.
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.





