Today, Ways and Means Chairman Dave Camp (R-MI) delivered a statement on the House floor in support of the GOP's balanced budget.
"I rise in support of a federal budget that balances so we can strengthen our economy, create more jobs and allow American workers to start seeing an increase in their paychecks again.
"I know we can do it. I was part of the team -- a Republican Congress and a Democrat President -- that balanced the budget for the first time in a generation. We focused on areas where we agreed and we made some tough choices. We should do that again.
"And, balancing the budget is not just about the economy. It is critical for programs like Medicare and Social Security -- and the benefits and services they provide to millions of Americans.
"Social Security is already spending more money than it brings in and the Medicare trust fund is fast going broke. What does that mean?
"Well, if Congress and the President don't act, America's seniors will face significant benefit cuts. That means smaller Social Security checks -- up to 25 percent smaller -- and fewer doctors willing to take part in Medicare.
"So, what do we do? First, pass a budget that balances. And, that is what Republicans are doing.
"Second, we need to look at the areas where we agree with the President and start making the reforms necessary to save programs like Social Security and Medicare.
"The President has said he is willing to use a different formula -- chained CPI -- to determine Social Security benefit increases. I know that policy will be included in the RSC budget. It's an area of agreement between the parties. Well, Mr. President, if we agree, then let's do it. The same goes for reducing Medicare subsidies for wealthier seniors.
"The American people expect us to make progress where we can. Let's not let our differences stand in the way. If we agree on a policy, then let's come together to start protecting and preserving critical programs like Social Security and Medicare."