On the recordJune 10, 1996
Mr. speaker, Medicare is going broke. The latest trustee's report confirms what many of us have been saying for some time now: that Medicare is going broke even faster than predicted. The Medicare trust fund lost money last year for the first time since 1972 causing the trustees to declare that the Medicare trust fund would be completely bankrupt by the year 2001. That is just 5 years away. As this chart shows based on Congressional Budget Office numbers, it was predicted to go bankrupt in the year 2001. I refuse to allow Medicare to go bankrupt because of some political advantage. We believe that we have got to work together in a bipartisan fashion, without gimmicks, without tax increases. We need to solve this problem for the American people. I invite my Democrat colleagues to work together for the American people in saving Medicare. It is the right thing to do; it is the right thing to do for all Americans.
Source
govinfo.gov
