Thank you, Mr. Chairman. Let me pick up on that point in terms of fraud rate with Mr. Serino.

But the second point is to me that shows that there's a pretty receptive audience for structural reform because when you have no expectations of getting a benefit, you probably welcome the fact that if we reform these programs, make them sustainable, you'll get something.

Until we reconnect that, until we re-induce the free market system which, by the way, guarantees, what, the lowest possible price and cost, the highest possible level of quality, the highest possible level of customer service, we're just not going to fix this problem.

The numbers we came up with, rather than an annual cost for Obamacare of $93 billion, it's closer to almost a trillion dollars a year.

The free market itself would force the information.

Currently, about the only reason that we're able to reduce cost to providers is because we have a huge amount of cost sharing.

I have joined 42 senators, 21 Republicans and 20 Democrats and 1 Independent, in asking the Select Committee to go big.

When they first started this program back in 1965, they projected out 25 years and said that by 1990 Medicare would cost $12 billion. In fact, it ended up costing $109 billion, basically nine times the original estimate.

I have come to develop a high regard and respect for him as not only a smart senator but as a senator who very much likes and wants to do things in a bipartisan way.

If we keep putting off dealing with Medicare's $38 trillion in unfunded liabilities, there will be severe consequences for the country.

Certainly, as I traveled around the State of Wisconsin, when I ask younger people what do you expect to get out of Social Security and Medicare, younger people-- unfortunately for me, that's people probably 50 and under-- without exception, the answer is nothing.