Kent Conrad: “Am I correct, then, in understanding that the Senator would pay for this increase in defense in part by cutting homeland…”

The one thing I know for sure is that what is happening now is not working.

I would just say our Retirement Security Plans and our Retirement Security Clearinghouses are responding to the underlying dynamic that Professor Mead has done such a good job in describing.

The new improvised system was not adequate.

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.