| Washington D.C.- Congressman Jeb Hensarling (R-TX), Chairman of the Republican Study Committee, issued the following statement on the legislation proposed by the White House as required by the 2003 Medicare Modernization Act:
“Medicare must be reformed in order to preserve benefits for over 200 million Americans under age 54. The trustees warn that Medicare faces collective unfunded obligations of more than $74 trillion—more than six times the current size of the American economy. The problem is getting worse, not better.
“My Republican Study Committee colleagues and I added a little-known provision into the Medicare Modernization Act of 2003 requiring the independent Medicare trustees to issue a funding warning should Medicare expenditure projections grow to levels that will take away from other important national priorities. That warning has now been issued, and the President has responded accordingly today with a proposal that that will help preserve the Medicare system by slowing its growth and empowering concerned Americans to demand comprehensive entitlement reform.
“Each time the President has tried to put forth a plan for entitlement reform, Democrats have proclaimed it dead on arrival, and that is simply irresponsible. The proposal offered by the President today is yet another opportunity for Congress to put the next generation over the next election and work together to provide real solutions to both our health care and entitlement problems.”
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