Affordable Care Act improves strength of Medicare, Social Security: Report

Speaker Nancy Pelosi released the following statement on the report released today by the Social Security and Medicare Boards of Trustees, http://www.ssa.gov/OACT/TRSUM/index.html.  The report shows that the Affordable Care Act has improved the strength of both Medicare and Social Security.

"Every year, the Social Security and Medicare Boards of Trustees give us an opportunity to evaluate the strength of these essential national programs on behalf of the tens of millions of Americans who rely upon them. Despite the challenges of this economy, the news we received today is good: Americans can rest assured that the benefits they have earned remain guaranteed, and will be for years to come.

"Today's reports show the remarkable impact of health reform on the strength of our nation: because of reform, Medicare's benefits were expanded and its fiscal health made more sound. Indeed, the Trustees today have reported that health reform has increased the solvency of Medicare's hospital insurance program by 12 years—a record increase from one report to the next—and the long-term shortfall has been decreased an unprecedented amount.

"Health reform has also helped shore up Social Security, reducing its actuarial deficit. Just days before the 75th anniversary of the creation of Social Security, the Trustees confirm that this solemn promise to America's seniors remains strong and fundamentally sound. Though there are short-term challenges as a result of the Bush recession, Social Security can still continue to pay full benefits for nearly 30 years. And as the party responsible for the creation and protection of Social Security benefits, Democrats remain committed to ensuring the secure and stable retirement our seniors have earned for generations to come.

"Unfortunately, Congressional Republicans disagree. They voted against the health reforms that made both these bedrock promises to Americans stronger. And again, they have proposed a path that puts Social Security – and the livelihoods of those who depend on it – at risk. After failing to privatize and cut Social Security five years ago, Republicans are charting a course right back to the failed ideas of the past.

"We are not going back. Democrats will keep our promise to our seniors now and in the future."