{"database": "press", "table": "releases", "rows": [["http://adriansmith.house.gov/solutions-social-security-and-medicare", "Solutions for Social Security and Medicare", "2014-09-05", "2014", "2014-09", "Republican", "House", "NE", "Adrian Smith", "S001172", "adriansmith.house.gov", null, null, "legacy", "Many Nebraskans depend on the Social Security and Medicare benefits they have earned by paying into these programs throughout their careers.\u00a0 Many more are planning on these benefits being in place as part of their retirement savings.\u00a0 However, both of these programs are unsustainable on their current path.\nThis concerning conclusion was made by the annual report of the Trustees of the Social Security and Medicare Trust Funds, a board made up mostly of Democrats appointed by President Obama.\u00a0 The report which was released in August does not offer specific fixes, but should serve as a call to action to find solutions for the shortfall in both programs.\nThere is a popular misconception the solvency issues of the Social Security and Medicare Trust Funds have occurred because money was taken from the funds and spent on other programs.\u00a0 This is not true.\u00a0 While reserved trust funds are lent through a mechanism similar to Treasury bonds, these funds have been and will continue to be paid on schedule and the interest paid accrues to the trust funds.\u00a0\nThese long term solvency problems of these programs have occurred because they are paying out more in benefits than they are taking in from workers.\u00a0 An aging population and higher medical costs have contributed to the problem. \u00a0Without addressing these changes the deficit for Social Security and Medicare will continue to grow larger.\nSocial Security operates by having today\u2019s workers pay for today\u2019s retirees.\u00a0 In 1945, the ratio of workers paying into the system per beneficiary was about 42 to 1.\u00a0 Today, the ratio is about 3 to 1.\u00a0 By 2033 the ratio is expected to fall to about 2 to 1.\nThe trustees report also found the combined Medicare Trust fund continues to face a \u201csubstantial financial shortfall.\u201d\u00a0 It is worth noting the trustees report found Medicare Part D, which is very popular among seniors and includes many of the market-based principles Republicans have suggested applying to other parts of Medicare, will remain adequately financed for the \u201cindefinite future.\u201d\nThe President and some in Washington have preferred raising taxes and even cutting Medicare funding and diverting it to Obamacare to address these challenges.\u00a0 These actions are not solutions to the structural problems faced by these programs.\u00a0\nRepublicans in the House of Representatives have passed relatively modest reforms which would keep Medicare solvent without changes for current beneficiaries.\u00a0 My colleagues and I on the Ways and Means Committee have held a number of hearings on Social Security reforms and are committed to finding solutions. \u00a0Unfortunately, the Democrat-controlled Senate has blocked our reform efforts without offering constructive alternatives.\nThe trustees report concludes solutions are needed \u201csooner rather than later to minimize the impact on beneficiaries, providers, and taxpayers.\u201d\u00a0 I could not agree more.\u00a0 This report makes clear the consequences if we are unable to come to the table to find solutions for Social Security and Medicare. \u00a0I hope all sides will find the courage to act.", 1, "2026-03-30T12:14:52Z", "2026-03-30T12:14:52Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["http://adriansmith.house.gov/solutions-social-security-and-medicare"], "units": {}, "query_ms": 0.7667308673262596, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}