Political Quotes

“I would like to submit section 501 of House Concurrent Resolution 34 for the Record as we seem to be commenting about it to a great extent this afternoon. I just want the record to be clear. SEC. 501. POLICY STATEMENT ON MEDICARE. (a) Findings.--The House finds the following: (1) More than 46 million Americans depend on Medicare for their health security. (2) The Medicare Trustees report has repeatedly recommended that Medicare's long-term financial challenges be addressed soon. Each year without reform, the financial condition of Medicare becomes more precarious and the threat to those in and near retirement becomes more pronounced. According to the Congressional Budget Office-- (A) the Hospital Insurance Trust Fund will be exhausted in 2020 and unable to pay scheduled benefits; and (B) Medicare spending is growing faster than the economy. Medicare outlays are currently rising at a rate of 7.2 percent per year, and under CBO's alternative fiscal scenario, mandatory spending on Medicare is projected to reach 7 percent of GDP by 2035 and 14 percent of GDP by 2080. (3) Failing to address this problem will leave millions of American seniors without adequate health security and younger generations burdened with enormous debt to pay for spending levels that cannot be sustained.…”