Kent Conrad: “We will pass on to our children in the very near future, at about the end of 4 years from now, a debt-to-GDP ratio which…”

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

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

It takes guts to do that, and Chairman Arrington, you have certainly led the charge on having a commission.

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.