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    FOR IMMEDIATE RELEASE:
    May 1, 2006

    CONTACT:
     Pamela Causey 202-216-8378/202-236-2123
    Kim Wright 202-216-8414

    ~ 4.6 Million Seniors ~ One Voice ~No Privatization ~

    “Those who would like to undermine Social Security and Medicare can be expected to use the new data on solvency as a rationale for privatizing, or otherwise dismantling, these successful programs.”
    …     Barbara B. Kennelly, President/CEO

      National Committee reacts to 2006 Social Security and Medicare Trustees Report
    Cost Containment, not Privatization, is the key to solvency

    The National Committee to Preserve Social Security and Medicare has issued its analysis of the 2006 Social Security and Medicare Trustees Report.  As expected, the trustees report shows the Medicare trust fund will remain solvent until 2018 while the Social Security trust fund will be solvent until the year 2040.

    This year's trustees report confirms what senior's advocates already know about the financial health of Social Security and Medicare. This is not a one-size-fits all problem. Both funds face different challenges, different solvency issues and the debate must focus on a number of solutions as we look to provide long-term solvency. 

    “The Part D prescription drug program is a perfect example of what happens when privatization is substituted for effective cost containment and price negotiation.  Seniors are not getting the lowest prices possible for their prescriptions and premiums are already projected to rise at twice the rate of inflation next year. We can't continue to worship at the altar of privatization while delaying the obvious need to address the larger healthcare cost issues facing our nation.”

    The National Committee's full analysis of the 2006 Trustees report and our viewpoint on the future of Social Security and Medicare: Demographics versus the Cost of Healthcare can be found on our website here.

    The National Committee, a nonprofit, nonpartisan organization acts in the interests of its membership through advocacy, education, services, grassroots efforts and the leadership of the Board of Directors and professional staff. The work of the National Committee is directed toward developing better-informed citizens and voters.