Kent Conrad

We all know that Social Security is going to have to be dealt with, or we are going to face by 2034 at the latest--many of us believe it will be earlier than that---an across-the-board 23-percent cut.

I watched as a new Senator your work as a Democrat on fiscal accountability. You, in fact, were a deficit hawk among Democrats.

You know, they are scared, and it makes them freeze.

It is really very important. You know, what so make stakeholders told us is you have got to broaden this thing out.

We have got to deal with these demographic realities.

You know, there are really three places where there are dramatic changes here.

What happens is those people, if the children are not able to care for them, they are going into institutions, but where is that being paid for? Overwhelmingly, it is being paid for out of Medicaid accounts.

What we have done is we recommend harmonizing withdrawal rules for 401(k)'s and IRAs.

We had literally hundreds of people and groups come before this commission. We listened intently for all sides on how we could fix these challenges.

We very much see it as a package. That is the way it was negotiated, and this was a difficult negotiation to get 18 of the 19 to agree representing all points on the political spectrum.

Overwhelmingly, they say this is their biggest concern--their retirement security, and, overwhelmingly, they want us to act.

We did have a chance to look at what you and the Congressman have offered, and we think that makes a significant contribution to this discussion and debate, and we appreciate that.

This combination lifts a million people out of poverty.

Let me just say, you know, I come from a small business family.

You know, we met with a Congressman on the Ways and Means Committee this morning, and we were on a subject related to this. You really see it with our elderly people who do not have options or options are closing in on them.

People are smart, and if you just share with them the basic information, a lot of people will make a good decision.

If we are going to have tax-advantaged vehicles to encourage people to save for retirement, then the savings ought to be for retirement.

Mary Wakefield is high-energy. She is super high-energy.

We need to get to the bottom of this, as Senator Sasse said, and find out who killed these CO-OPs.

The long knives came out to kill the CO-OPs in their cribs.

I can remember about 8 years ago during the base realignment and closure (BRAC) process, Jamie was extremely involved in that very difficult and arduous process.

Our country needs able people to volunteer for public service, and our military needs the support of dedicated civilians like Jamie.

Jamie has exceptionally good judgment that will serve him very, very well in this position.

I wish to say thanks to my colleague, Senator Sessions. He will still be on the Budget Committee. These challenges remain. I will lend my voice in whatever way I can to the responsible efforts that are needed to get us back on track. It is…

Through the Chair, I would say to my colleague, I do have a matter that is a parliamentary inquiry that is a matter that is important for us to resolve. I do not want to intrude on the Senator's time.