Kent Conrad: “I want to welcome everyone today to the hearing of the Senate Budget Committee.”

I think there is just a tremendous opportunity here, and I really applaud the two of you for doing this in a bipartisan way.

Millions of Americans are financially unprepared for their retirement.

We also increase the payroll tax very modestly, from the current combined rate of 12.4 percent to 13.4 percent over 10 years.

If you had to reduce it to a word, I would reduce it to 'globalization.'