Thank you, Mr. Murphy.
Budget 2008, as well as the officials we had here at the last meeting, indicate the board will be independent and premiums will be returned to employees and employers through lower rates, if that is the case. That $2 billion was indicated as the cushion to make sure....
You indicated your concern if we get into some slow times. I would anticipate that rates will go up as a result of that. That's what we have heard over the last couple of meetings.
I just wanted to let you know what the department is telling us is the direction they're trying to head in.