Michael Burgess: “I wanted to speak for just a minute on why the Federal Employee Health Benefit Plan style reforms are needed in…”

“I wanted to speak for just a minute on why the Federal Employee Health Benefit Plan style reforms are needed in Medicare. As the chairman as pointed out so eloquently, spending on Medicare is projected to nearly double over the next decade, just as the baby boomers begin to retire. Social Security, Medicare and Medicaid currently comprise more than 40 percent of the Federal budget; but by 2030, the Government Accounting Office estimates that these three programs could constitute 75 percent of the Federal budget if no changes are made. Truly, that would be blowing out the bottom of the boat, to borrow a metaphor from the gentleman from Seattle. This level of entitlement spending is unsustainable and will crowd out other essential functions of government. Reforms must be made to ensure that Medicare continues to exist for future generations. And after all, that is what this debates is all about, ensuring that Medicare is going to be there for future generations. As we add a $400 billion drug benefit to a program that already has $13 trillion in unfunded liabilities, we must enact real reforms that will place the program on sound financial footing for the future.”