Statement in Response to Annual Report from Social Security and Medicare Trustees

In response to today’s release of the annual report from Social Security and Medicare Trustees, Carolyn Bourdeaux, Executive Director of Concord Action, released the following statement:

“Today, as Congress considers a bill that would add trillions to our national debt, the Social Security and Medicare Trustees released an annual report with more alarming news. The Social Security Old Age and Survivors Insurance trust fund will become insolvent in just eight years, 2033,  precipitating 23% across the board cuts, in addition to automatic cuts to Medicare  that will limit access to healthcare.  These cuts will affect 70 million people who depend on these programs.

We are barreling toward a crisis. There are solutions that can help stabilize these critical programs, but instead of acting, Congress continues to pursue deficit-financed spending increases and tax cuts that are hurting our economy and fiscal standing. The need for responsible action from Congress is getting more serious and more urgent.”