Hoyer Statement on Social Security and Medicare Report

For Immediate Release:

March 25, 2008

Contact:Stacey Farnen Bernards
(202) 225 - 3130

WASHINGTON - House Majority Leader Steny Hoyer (MD) released the following statement today regarding the annual report by the trustees for Social Security and Medicare.  That report, which was released today, showed that the Social Security trust fund will remain solvent until 2041 and Medicare will remain solvent until 2019:
           
“Today’s report is yet another reminder that these two critical programs – Social Security and Medicare – face real long-term challenges that must be addressed in a bipartisan way.
           
“Unfortunately, the fiscally reckless policies pursued by the current Administration over the last seven years will make it much more difficult to tackle this important issue, while the looming retirement of the baby boom generation increases the urgency.
           
“In fact, the Democratic Majority in the House is committed to ensuring that the Medicare program continues to function effectively for beneficiaries, providers and taxpayers well into the future.  That is why the House passed reforms – as part of the Children’s Health and Medicare Protection Act – that would have extended Medicare solvency by two years.
           
“I believe that we must get serious about addressing the long-term challenges to Social Security and Medicare.  To that end, we must begin to lay the foundation for bipartisan action on this issue in the next Congress, and we must have an open, honest debate about the best way to strengthen the entitlement programs that millions of Americans count on.”
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