So I have to think that it's going to be mandatory. I am delighted to hear Senator Kerrey say he is with that as well. But I don't think it has to be an either-or. We have to have incentives for saving, we have got to have pension reform, and we have got to maintain something for security. They say, you know, Social Security has always been there, because you're investing in Treasury bills and you have the United States government backing them.
Stock markets are pretty high right now, but sometimes the stock market gets low.
Well, I think that's what we have to find out. Senator Gramm is talking about a balanced portfolio. And I think it's a question of what degree of risk are you as an individual willing to take. There are fewer and fewer defined benefit plans in the work force today. This has been more a question of individualization, a transfer of the risk to the individual, than it has been one of privatization.