[Congressional Record Volume 141, Number 161 (Wednesday, October 18, 1995)]
[House]
[Page H10211]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                              {time}  1015
             CONGRESS MUST TAKE ACTION TO PRESERVE MEDICARE

  (Mr. METCALF asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. METCALF. Mr. Speaker, Medicare will be bankrupt by 2002. Faced 
with this crisis, of course, we will take action to protect and 
preserve Medicare. But keep in mind the far more serious problem. 
Unless we balance the budget, the United States will go bankrupt.
  Look at the facts. We owe $5 trillion in debt. Interest will soon 
pass defense as the largest expenditure. It does not count hundreds of 
billions of dollars borrowed from Social Security. It does not count a 
couple of trillion more in liability from pensions and retirements.
  The overspending of previous Congresses has been destroying the 
American dream for our children. If we really care for the future of 
our children, we will balance the budget now.

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