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Pelosi Statement on Annual Report of Social Security and Medicare Trustees

WASHINGTON, May 12 /PRNewswire-USNewswire/ -- Speaker Nancy Pelosi released the following statement today on the annual report of the Social Security and Medicare Trustees, which was released this afternoon and included updated projections for the solvency of the Social Security and Medicare trust funds.

"The Trustee's reports reveal that, just as they left behind a record of recession, deficits and debt, the Bush Administration's economic and fiscal mismanagement undermined the strength of Social Security and Medicare.

"President Obama and the New Direction Congress will keep the promises of Social Security and Medicare to today's seniors and persons with disabilities and tomorrow's retirees. That work began with the American Recovery and Reinvestment Act, which also provided seniors with a $250 rebate this month. Medicare's solvency will also be improved when the House acts on historic health care reform legislation that will reduce costs, improve quality and increase access to all Americans.

"The previous Administration's shortsighted economic policies and fiscal recklessness have made the task of strengthening Social Security and Medicare for the future more difficult, but President Obama and Congress are prepared to meet this challenge. By strengthening our economy and creating jobs, and by finally tackling the challenge of health care, we are already working to protect the promise of Social Security and Medicare for all Americans."

SOURCE Office of the Speaker of the House
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