Portman Statement on Social Security and Medicare Trustees Reports

Press Release

U.S. Senator Rob Portman (R-Ohio) released the following statement on the Social Security and Medicare Trustees reports released today showing that the Social Security Disability Insurance Trust Fund will be depleted in 2016. Additionally, the combined Social Security trust funds are projected to become insolvent in 2033, resulting in a permanent 23 percent benefit cut. Today's report also confirmed that all Social Security and Medicare trust funds are currently in deficit, requiring annual bailouts from general taxpayer funds.

"Today's report confirms that we must take action to reform important programs like Social Security and Medicare so that they are available for those Americans who need them the most as well as future generations," Portman stated. "If we don't tackle our nation's budget challenges head on, then we'll continue to see our entitlement programs barrel toward insolvency. This issue requires presidential leadership and bipartisan action, and today's report should prompt those in Washington to act sooner rather than later."

Today, the American Enterprise Institute featured Portman's opinion piece on the need to rein in out-of-control spending and reform our entitlement programs so that they're available for those Americans who need them the most. Last week, the Wall Street Journal featured Portman's op-ed on the need to rein in the soaring debt and reform Social Security as well as health entitlements.

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