Tim Ryan: “it is good to be back. I am sorry I am late, but I agree wholeheartedly with the portion I heard that the gentleman was…”

“it is good to be back. I am sorry I am late, but I agree wholeheartedly with the portion I heard that the gentleman was saying. I think the focus that the 30-Something Group has zoned in on is the issue of this borrowing, this raiding the trust fund, this taking away from investments that can be made in the next generation. The President came out with a plan that said $5 trillion would have to be borrowed over the next 20 years, 1.5 to $2 trillion over the next 10 years. So imagine $5 trillion being borrowed, taken out of the economy, borrowing it from the Japanese and Chinese in order to fund this scheme that the President was pushing. Now, all of a sudden, we have a new privatization plan that is a little bit different, and we will get into the details in a minute. I think the principle is the same: We are taking money out of the trust fund. I think any time we do that, we are putting ourselves in a very, very difficult position. The key principle for the Democrats is to make sure that we maintain the benefit we have now, make sure that we maintain the guaranteed benefit that our parents and grandparents have, and then make the system more solvent. There are very few details. Unless there is new information, there are very few details to this plan.”