New Report Confirms Biggest Threat to Medicare & Social Security is Status Quo
House Speaker John Boehner (R-OH) released the following statement on the release of the Medicare and Social Security Trustees’ annual report:
“Today’s report confirms what Republicans have long said: The biggest threat to Medicare and Social Security is doing nothing, and the refusal of the White House and congressional Democrats to address our fiscal challenges will have devastating consequences for America’s seniors. Last year, we had an opportunity to begin to deal with our debt crisis and help save Social Security and Medicare for future generations of seniors, but the president lost his courage, moved the goalposts and demanded tax increases on small business job creators. The nation needs leaders who understand how our economy works; who understand we can’t tax our way back to prosperity; who have the courage needed to confront our nation’s serious problems.
“House Republicans, led by Chairman Ryan, passed a responsible budget that would protect our seniors and save and strengthen our health and retirement security programs. It makes the necessary choices the president and his party refuse to make to address the staggering deficits and debt that are slowing our economic recovery, costing jobs, and threatening to destroy the American dream. Republicans are committed to the budget we’ve put forward and committed to solving the serious economic and fiscal challenges our country faces.”
NOTE: Among the findings from today’s Trustees Report: (1) the Medicare Part A Trust Fund will be exhausted in 2024; and (2) the Social Security trust fund will be exhausted in 2033, three years earlier than the trustees estimated last year.