Two Types of Reform

TAKEAWAY: TWO TYPES OF REFORM

At the end of the day, we need both entitlement reform and tax reform. And I’ve tried to just kind of simplistically lay out some possibilities, but on entitlements, going to a lower inflation rate than what we do today with chained [Consumer Price Index]. Longevity has increased substantially, which most of us would say is a good thing. I’m certainly thankful for it. But it also means that you can’t have programs that come in as early as they do when people didn’t live as long, and it wasn’t such an issue.