Social Security and Medicare are important programs that many seniors depend upon. I oppose any benefit reductions for current or soon-to-be recipients of Social Security or Medicare. Even President Obama has admitted that Medicare will be bankrupt by 2029, and according to the 2011 Social Security Trustees Report, the Social Security Trust Fund will become insolvent by 2036, threatening the livelihood of millions of current and future beneficiaries.
According to the 2011 Social Security Trustees Report, the Social Security Trust Fund will become insolvent by 2036, and the Medicare Hospital Insurance Trust Fund will go bankrupt in 2024, threatening the benefits of millions of current and future beneficiaries. Currently, all benefits paid out to retirees are covered by tax receipts. For years, the federal government has borrowed from this fund, issuing bonds intended to cover the future costs of the system. Congress must address these serious concerns and ensure that Nevada's retirees can depend upon the benefits they have earned.
To protect and preserve Medicare and Social Security for Nevadans, I have signed on as an original cosponsor to H.R. 1630, the Social Security and Medicare Protection Act. This bill would ensure that Social Security and Medicare surpluses are used only for the purpose of providing health and retirement security. In order to guarantee the long-term financial stability of Medicare and Social Security, the federal government must change its irresponsible spending habits and instead save to prepare for the future. Nevada retirees who have worked hard should be able to count upon the benefits they have earned.