thanks mrs. borzi. mr. chairman. >> thank you very much, mr. chairman, and mrs. borzi. you in your statements say and i quote 27% of workers report that industry virtually no savings or investments or less than $1,000 in savings and, 54% of workers report the total value of the household savings is less than 25,000. that's what you say. i want you to speculate with me for a moment, if we were to raise the retirement age in social security to 70, and you were living in an economic period right now, and you had somebody who was out building roads in the state of vermont, or that's his job. he's a construction worker. what happens, first of all, how many employers are going to hire a 68-year-old construction worker as opposed to a 25-year-old construction worker? and second of all, second of all, if that construction worker or if that nurse, or anyone else who is 68 or 69 years of age waiting for social security is unable to get social security, what happens to that person who has virtually no savings right now, is 68, 69, has a number of health problems, and can't get soc

chairman. >> i appreciate that, thank you, mr. borzi. mr. chairman. >> thank you very much. ms. ou said 20% of workers say that have no savings or less than $1,000, 54% the total value is less than $25,000. that's what you say. i want you to speculate with me for a moment. if we were to raise the retirement age in social security to 70, and you were living in an economic period right now, and you had somebody who was out building roads in the state of vermont, or that is his job. he's a construction worker. what happens first of all, how much employers are going to hire a 68-year-old construction worker as opposed to a 25-year-old construction worker? and second of all, second of all, if that construction worker or if that nurse, or anyone else who's 68 or 69 years old, waiting for social security is unable to get social security, what happens to that person who has virtually no savings right now? is 68, 69, has a number of health problems and can't get social security. how are they going to survive? >> i wish i could give you a good answer. i know that there are many, many hundr