Unfortunately the Senator is completely correct. There is no money in function 920. The Senator is absolutely correct that when we started this process, function 920 was $500 million in the hole. I guess what is even more remarkable is we have now had $10.5 billion of additional funding supposedly covered by function 920 when there never was any money to begin with.
Share
More from Kent Conrad
Can I just respond quickly, Mr. Chairman, and say when Simpson-Bowles went down, a group of six of us in the Senate, three Democrats, three Republicans, were asked by leadership to see if we couldn't come up with a way forward to adopt the…
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.
Other voices in this conversation
