Political Quotes

“I rise in honor of a birthday. Forty-nine years ago, Medicare was signed into law. Every year, the trustees prepare a report about the fiscal health of Medicare and Social Security, and that report was issued earlier this week. On this 49th birthday of Medicare, I wish to talk about Medicare's health because there is some good news. The 2014 trustees' report released earlier this week looks at the trust fund financing for Medicare hospital coverage and indicates that trust fund, under current projections, will remain solvent until 2030. Last year the 2013 report indicated that solvency period would go to 2026. So in 1 year the fiscal projections for Medicare and Medicaid improved by 4 years--solvency until 2030. In addition, the projected Part B premiums, the Part B portion of Medicare, which is the prescription drug premium program for seniors, for the second year in a row the premiums will not increase one penny. This improved health of Medicare is significant. The health of it has improved dramatically, even in the last year. But where the improvement truly looks significant is if we compare the 2014 report with the 2009 report, the report that was done on Medicare's 44th birthday 5 years ago. The 2009 report said the hospital insurance trust fund was not adequately financed for the next 10 years, and it would be exhausted in 2017.…”