Kent Conrad: “Reconciliation goes directly against that. Directly against that.”

There is going to be a 23-percent cut across the board by 2034.

If you are really going to relieve me of the administrative burden, if you are going to really relieve me of the liability, if you are going to really relieve me of the cost other than the payroll transfer.

That I like to call the 'Conrad provision.'

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.