House Republican Leader John Boehner (R-OH) today issued the following statement after the Medicare and Social Security Trustees released a new report highlighting the deteriorating financial condition of the Medicare and Social Security programs and the urgent need for reform:
“The Social Security and Medicare trustees’ report confirms what we already knew: our nation cannot afford to continue this reckless borrowing and spending spree. While on the campaign trail last year, President Obama said, ‘when you’re in a hole, the first thing to do is stop digging.’ I couldn’t agree more, but his policies are putting our kids and grandkids deeper in that hole, and deeper in debt to China and the Middle East. Not only does the Democrats’ budget double the national debt in five years and triple it in 10, but it does nothing to address the looming crisis in our entitlement programs.
“Our nation is facing a demographic tsunami of nearly 80 million retiring Baby Boomers and rising health care costs, and it is clear that we must reform Medicare and Social Security to preserve the programs’ benefits for future generations of American seniors. The Social Security and Medicare Trustees have repeatedly warned Congress and the American people that the programs must be reformed or future benefits will be threatened, and today’s report is the most dramatic warning yet. Congress can’t sit idly by while these programs go bankrupt; we must act now.”
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