We hope, and pray, that Congress would indeed act well before we ever hit the trust fund reserve exhaustion.

Could you structure reforms that prevent that 23 percent cut from happening if you act sooner?

We do not see this as a big stretch, and we are applying finite dollars because of pending bankruptcy.

This is fantastic. I think that was one of the best explanations of competitive bidding and how to structure this so we get at cost growth.

Thank you for spending your time, this has been very enlightening.

You are the witness; they are the questioners. This is a legislative branch on this side of the table. You are the executive branch on that side of the table. So let's keep the questions the way that the Constitution is.

I think we can have a better economy through broad-based low-rate tax reform.

We are all worried about our kids and grandkids and nieces and nephews.

So someone who made $350,000 next year, in 2013 or 2014, would pay an additional say $500 to $1,000.

The time has expired.

Leaders are supposed to fix problems. We have a $99.4 trillion unfunded liability.