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insolvent

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  10. '15

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Occurrences in the Congressional Record

Entry Title Date
Protecting Social Security Programs For Future Generations May 19, 2015
Tom Reed, R-NY
"Mr. Speaker, many people across the Nation have talked about Social Security and Medicare and the trust funds going bankrupt for the retirement fund and Medicare sometime in 2033, 2034, but, Mr. Speaker, there is a more impending crisis coming down upon us. The Social Security disability trust fund is scheduled to go insolvent in 2016. That means, if we do nothing, what is going to happen in 2016 is millions of Americans across this Nation who receive those lifesaving disability benefits monthly will see a reduction in their benefits to the tune of 20 to 21 percent. That is unacceptable, Mr. Speaker. "
Concurrent Resolution On The Budget, Fiscal Year 2016—Conference Report May 5, 2015
John Thune, R-SD
"Finally, our budget will start the process of putting major entitlement programs such as Social Security and Medicare on a sounder footing going forward. Right now, the Social Security trust fund is headed toward bankruptcy. If we don’t take action, Social Security recipients could be facing a 25-percent cut in benefits by the year 2033. Medicare faces similar challenges to those faced by Social Security. Under the worst-case scenario, the Medicare trust fund could become insolvent by as early as 2021. That is just 6 short years away. The Republican budget would help preserve Medicare by extending the trust fund’s solvency for an additional 5 years, which would protect retirees’ benefits while giving policymakers additional time to ensure that this program provides support to seniors for decades to come."
Creating A New Beginning April 27, 2015
David Perdue, R-GA
"What is worse, we have over $100 trillion in future unfunded liabilities related to Social Security, Medicare, Medicaid, Federal pensions, and the interest on the Federal debt. While developing a long-term solution to this debt crisis, we also need to protect today’s seniors and save our safety net programs so they will be there for people who really need them the most, when they need them. Shockingly, Social Security and Medicare trust funds will be totally insolvent in just a few short years, and worse, this administration has no plan to deal with that."
Concurrent Resolution On The Budget, Fiscal Year 2016—Continued April 15, 2015
Michael Enzi, R-WY
"The budget does this by adopting the President’s goal of extending the life of Medicare’s hospital insurance trust fund by at least 5 years. According to the Medicare trustees themselves, the hospital insurance fund could be insolvent as early as 2021, just 6 years from now."
A Balanced Budget For A Better America April 14, 2015
Glenn Thompson, R-PA
"According to the nonpartisan Congressional Budget Office, the Medicare hospital trust fund will be insolvent by 2030, which is closer than we all would like to admit."

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