I believe that history will record the steps that were taken at the end of the Bush administration and the initial days of the Obama administration were absolutely critical to averting a financial collapse.
Conrad reflects on the importance of actions taken during the Bush and Obama administrations.
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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.
We also increase the payroll tax very modestly, from the current combined rate of 12.4 percent to 13.4 percent over 10 years.
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