Washington, DC—Senate Majority Leader Harry Reid made the following statement today upon release of the latest annual report of the Social Security and Medicare trustees, which included updated projections for the solvency of Social Security and Medicare trust funds:
“This report underscores the urgency of reforming health care. It reminds us that we must reduce costs not only for middle-class families, but for Medicare and the federal budget as well. Until we get health costs under control, it will be harder for Americans to make ends meet and harder for Congress to keep Medicare solvent.
“These latest projections reflect the severe recession that President Obama inherited. They should not be used as an excuse for privatization or deep cuts in Social Security benefits. The truth is that Social Security still can pay all of its promised benefits for decades – and most of its promised benefits after that.”