Sen. Lamar Alexander (R-TN), Senate health committee chairman, recently urged President Barack Obama to encourage Medicare reforms after the recent release of the Congressional Budget Office report.
According to the report, by 2026 the Medicare hospital insurance trust fund will run out.
“Millions of Americans are counting the days until they are eligible for Medicare, and today’s Congressional Budget Office report tells us that in just 10 years Medicare won’t be able to help seniors pay all of their hospital bills,” Alexander said. “I hope the president seizes on today’s grim news as an opportunity to take advantage of Republican and Democratic ideas -- such as the reforms included in the Fiscal Sustainability Act -- to help rescue seniors facing a bankrupt Medicare program.”
The Fiscal Sustainability Act, introduced in 2013 by Alexander and Sen. Bob Corker (R-TN), would reduce the expansion of mandatory spending in entitlement programs.