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WASHINGTON, D.C. - “The Federal Medicare program pays for health care for about 31 million Americans over age bo but, unfortunately, this vital system is expected to go bankrupt unless major reforms are taken to put the program on better financial footing,” said U.S. Congressman D. French Slaughter Jr., (7th-VA) in remarks prepared for a press conference on Capitol Hill.
Rep. Slaughter cited the Medicare Trustees’ Annual Report that predicts Medicare bankruptcy within the next 10 to 15 years unless steps are taken to alleviate the strain on the Medicare system. During the press conference, Rep. Slaughter noted that the financing gap for Medicare’s Hospital Insurance program is larger than the problems facing Social Security in 1983 when emergency legislation was enacted by the President and Congress to rescue that system.
The press conference was called by Republican Research Committee Chairman Duncan Hunter (R-CA) to announce the formation of a new Committee Task Force on Health Care Policy. Rep. Slaughter was named as one of the three Co-Chairmen of the new task force at the press conference and will join them in examining various problems and
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