Washington, D.C. – U.S. Representative Charles W. Boustany, Jr., R-Southwest Louisiana, made the following statement regarding the release of the Medical Trustees Report on Social Security and Medicare Trust Funds.

“Social Security and Medicare serve important functions for millions of Americans and countless residents of Southwest Louisiana,” Boustany said.  “We need to make sure these safety nets are both effective and sustainable. We must sit down and find a way to continue these programs, while not bankrupting our children and grandchildren.”

The annual report by the Trustees of the Social Security and Medicare Trust Funds released today outlines the bleak future of the current Medicare system and stated the system would run out of funds as soon as 2016, 3 years earlier than previously expected.

In addition, doctors’ reimbursement rates are slated to cut by 21% in 2010, which will lead to further access problems for patients as fewer doctors will see new Medicare patients.

“The Trustees report reinforces what we already knew — that entitlement spending has run rampant while the President’s budget does not address this critical issue,” Boustany said.  “The only way to fix this is for the President and Congress to work together to rein in the national debt and spending.”

The President’s $3.5 trillion budget fails to address growing entitlement requirements while adding to the government’s spending.

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