Kent Conrad: “the Senator from Ohio and I see the same problem, but we have a different approach to solving the problem. The Senator…”

“the Senator from Ohio and I see the same problem, but we have a different approach to solving the problem. The Senator from Ohio says the Social Security is endangered. I agree. I say not only is the Social Security trust fund endangered but so, too, is the Medicare trust fund. Despite the words from the Senator from Ohio, there really is a Medicare trust fund. It really is in surplus. We know that. That is from the reports from this administration. Those are what the reports from the Congressional Budget Office make very clear. Here is the ``Medicare Budget Outlook,'' from chapter 1, from the CBO, table 1-7 ``Trust Fund Surpluses.'' Under ``Medicare, Hospital Insurance (Part A),'' the trust fund is in surplus each and every year of the years under consideration. Part B, referenced by the Senator from Ohio, is in rough balance. What the Senator from Ohio has confused with his charts, is that Part A has always been funded in one way, under one formula, and Part B has been funded under a different formula. Part A is funded by deductions from payrolls of employees all across the country. As I indicate, Part A is in surplus. Part B is funded by premiums paid by Medicare beneficiaries and by general fund contributions. That is not in deficit as asserted by the Senator from Ohio. That is incorrect.”