U.S. Congressman Pat Tiberi (R-OH), a member of the Ways and Means Committee issued the following statement after the Trustees of Social Security and Medicare Trust Funds issued their annual report:
"Once again this report indicates we must take action to reform our Medicare and Social Security programs to ensure that our children will be able to receive benefits. This year alone the fund from which Medicare hospital expenses are paid will pay more in benefits this year, than it collects in taxes. Once again the warning is dire, and the estimate of when the trust funds will be insolvent is even sooner than before. By 2016, the Social Security trust fund will be paying out more in benefits than it collects through payroll taxes.
"For the third Congress in a row, I am supporting a measure that will create a non-partisan commission to explore ways to reform Social Security and Medicare so that we will be able to fulfill this nation's promise to future generations. The Saving America's Future Economy Commission bill if it was passed and signed into law, would force a dialogue that so many on Capitol Hill have been avoiding for years. The longer we receive these reports warning us that reform is needed and don't take action, the harder these programs will be to reform. We must begin the dialogue."