Could you structure reforms that prevent that 23 percent cut from happening if you act sooner?

The Republican approach would end the Medicare guarantee of a package of benefits specified in law.

For too long, politicians in Washington have not been honest with the American people, and seniors in particular, about Medicare and Social Security.

We can chart a brighter future for Medicare.

The overwhelming majority of our Republican colleagues have signed a pledge saying they won't close one special interest tax loophole.

Is it not wise to start reforming now, sooner, so that the distribution of the change is spread more broadly and evenly across income cohorts?

We do not see this as a big stretch, and we are applying finite dollars because of pending bankruptcy.

This is fantastic. I think that was one of the best explanations of competitive bidding and how to structure this so we get at cost growth.

We hope, and pray, that Congress would indeed act well before we ever hit the trust fund reserve exhaustion.

Thank you Steve. Since we ended with Social Security, why do I not pick up on Social Security.

Chairman Ryan has recommended a plan for a voluntary personal account with a minimum guaranteed rate of return.

Chairman Ryan, Ranking Member Van Hollen, and members of the committee, all in my office look forward to continued work with you and all members of the Congress in the development of legislation that will restore long-range sustainable…