THE NATIONAL COMMITTEE TO PRESERVE SOCIAL SECURITY AND MEDICARE
~ Celebrating 25 Years of Advocacy for Older Americans ~

March 25, 2008

NEWS RELEASE

No Surprises in 2008 Social Security and Medicare Trustees Report

Social Security is fully funded for 33 years...Medicare solvent for another decade

This year's trustees report confirms what we already know about the health of Social Security and Medicare...Social Security will continue to have a surplus for more than three decades while a nationwide healthcare crisis continues to escalate costs for seniors in Medicare. 

"This trustees report shows that Social Security is on track to pay full benefits for more than 3 decades. But the challenges of skyrocketing healthcare costs are threatening not just seniors in Medicare but Americans nationwide.   No doubt, this annual report will have the sky-is-falling crowd calling for 'entitlement reform' again while they continue to ignore America's healthcare crisis and fight to protect billions in insurance industry subsidies which steal years of solvency from the Medicare program"...Barbara B. Kennelly, President/CEO

The trustees report also includes a Medicare funding warning designed to trigger massive and arbitrary program cuts like those proposed by the President this year.  Kennelly says,

"Mandating Medicare cuts based on an arbitrary funding level hurts beneficiaries, ignores the larger issue of skyrocketing healthcare costs, and will ultimately destroy this vital program just when our nation needs it most".