I know there are smarter people than me. However, there are some aspects of training that I do not understand. I am betting someone here does. 
Why exactly should I be training at a slower pace than I plan to run race day? I understand that I shouldn't overdo it. I also understand the importance of pacing. However, I have read for the training runs to be 2 minutes slower in pace than race day. This seems like a lot of time. Also, is it just the long run or every run I do. (Right now I run 4 times a week). Thoughts? Thank you.

Why exactly should I be training at a slower pace than I plan to run race day? I understand that I shouldn't overdo it. I also understand the importance of pacing. However, I have read for the training runs to be 2 minutes slower in pace than race day. This seems like a lot of time. Also, is it just the long run or every run I do. (Right now I run 4 times a week). Thoughts? Thank you.