Blunt: Trustees Report is a Reminder of Medicare and Social Secur...( WASHINGTON March 25 -- House Rep...),Health

WASHINGTON, March 25 /PRNewswire-USNewswire/ -- House Republican Whip Roy Blunt (Mo.) issued the following statement today after the Social Security and Medicare Trustees issued their annual report estimating that Social Security and Medicare will deplete their respective trust funds by 2041 and 2019:

"The trustees report is a solemn reminder that we do not have time for further delay. Congress must act, and act quickly, to deal with the fiscal emergency Social Security and Medicare are facing.

"We have all seen this crisis on the horizon for years, and yet the budget Democrats passed this month does nothing to put these programs on a solid foundation for the future.

"In just over 10 years, Medicare will start spending more than it collects. There are really only two paths to take: raise taxes, kick the can down the road and ignore the problem as the Democrats have advocated; or do what our constituents elected us to do: find a solution.

"Earlier this year, Republican Leader John Boehner (Ohio) and Democratic Leader Steny Hoyer (Md.) introduced conservative legislation that would make the needed reforms to put Medicare on a path of economic stability.

"I hope the majority will join us to find a solution for current and future Medicare beneficiaries."

NOTE: Below is a summary of Medicare proposal (H.R. 5480) introduced by the two leaders:

Reform the nation's medical liability laws in order to put patients' interests before those of trial lawyers;

Focus the Medicare prescription drug program on low-income seniors by limiting the amount of taxpayer funded benefits for seniors with incomes of more than $80,000, saving Medicare an estimated $3 billion over five years; and

Allow the Department of Health and Human Services to introduce value-driven competition into Medicare and create incentives for high-quality, low-cost health care options.