Lloyd Smucker: “We have to fix this. We can do it. This panel isn't far apart.”

You’ll probably have to do something on the payroll half of the money being paid into the system.

The question is, if someone has very high income during retirement age, should they really be able to access Social Security in the same way that someone in poverty does?

We can’t allow that to happen, and the only way you address that is to start being serious and realistic about the math problem and the demographics.

I think this requires a conversation, a broad conversation with the American people, talk about … what it is that we can do to change, to make good on the promises on Social Security, but also change the fiscal trajectory.