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pare for future liabilities.
My bill would require the Medicare Trustees to go beyond their annual warning to Congress and offer specific proposals to ensure HI solvency. Similarly, H.R. 4907 would require a Government Accounting Office study of proposals to head off Medicare bankruptcy.
As a workable alternative to raising taxes or cutting Medicare benefits to keep Medicare solvent, Congress can decrease demand on the system by offering individuals tax incentives to plan and save for their own health care needs in retirement. I have introduced a bill, H.R. 1080, to create tax-favored voluntary Health Care Savings Accounts. Individuals with Health Care Savings Accounts would use these private savings before tapping into Medicare, thereby reducing demand on the program.
It is past time to get serious about deficit reduction. And it is past time to institute honest budgeting.
Seventh District Congressman D. French Slaughter Jr. represents Rappahannock County in the U S House of Representatives. The threeterm Republican is a native of Culpeper.
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