"Since the creation of Social Security and Medicare, the Federal Government has made a promise not just to our senior citizens but to future generations as well. I will continue working to make sure that our government keeps its promise." -- Congressman Charlie Dent
The continued solvency of Social Security and Medicare is critical for the millions of Americans who rely on these programs and to the long-term fiscal stability of the U.S.
Projections indicate that Social Security will become insolvent by 2033. The projections for Medicare are even worse. In as few as eight years or as many as twelve the program will no longer be able to meet its obligation to seniors.
In other words, we're running out of road down which we can kick the proverbial can.
Let me be very clear on two important points.
I DO NOT SUPPORT privatizing Social Security.
I DO NOT SUPPORT ending Medicare.
I DO SUPPORT maintaining current benefits, strengthening the program for generations to come and getting all Americans back to work because a healthy economy will mean a brighter, more stable outlook for both Social Security and Medicare.
Ensuring the future of Social Security will need to be done in a bipartisan manner. I have two very straightforward principles when it comes to protecting Social Security.
*Any action taken MUST NOT impact current retirees or near retirees (55 years of age and up).
*Any action taken MUST be decisive. It must guarantee many decades of future solvency.
Medicare is facing an even greater solvency crisis. President Obama's health care law, which cut over $700 BILLION from the program (based on figures from the Congressional Budget Office) made the situation worse. It hurts both the benefits of current beneficiaries and further jeopardizes Medicare's future. The impact it has on Medicare is just one of the reasons I voted against this law and then more recently voted for its repeal.
I have supported policies that will make sure Medicare is there, not just for our grandparents, but for our grandchildren as well.
We also know that our retirement security is not solely linked to Social Security or Medicare. People put away funds throughout their whole working lives to build nest eggs that will be there for them after retirement. I oppose raising taxes on dividends and capital gains so that you are not punished for your investments and can keep more of your earnings. A lifetime of hard work, thriftiness, savings and investment should be celebrated, not punished with higher taxes.