Apparently Congressional Democrats think Medicare is just fine as is, even though it is on track for insolvency.
House Majority Leader Eric Cantor (R-Va.) fired back on Friday at Democrats over Medicare, one day after Minority Leader Nancy Pelosi (D-Calif.) said that House Democrats would consider “no benefits cuts” to the program in the course of White House-led negotiations on a long-term deficit-reduction plan.
“Democrats like to champion themselves as the defenders of Medicare, but today’s Democratic party is willing to stand idly by as Medicare goes bankrupt,” Cantor said in a statement. “The latest Medicare Trustees report makes clear that the program is much closer to bankruptcy than believed even last year, and that the program is in far more trouble than the Trustees or CBO had projected.”
Cantor defended the House Republican 2012 budget blueprint, which would overhaul Medicare by partially privatizing the health-care program for future seniors.
But a report from the Medicare and Social Security Trustees last week showed that the expensive entitlement programs are still en route to insolvency, with Medicare projected to be depleted by 2024 and Social Security by 2036.