[Congressional Record Volume 147, Number 37 (Tuesday, March 20, 2001)]
[House]
[Page H963]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




        PROTECTING SOCIAL SECURITY AND MEDICARE USING A LOCK BOX

  (Mr. STEARNS asked and was given permission to address the House for 
1 minute and to revise and extend his remarks.)
  Mr. STEARNS. Madam Speaker, more than 76 million baby boomers are 
marching toward retirement, creating the greatest demographic challenge 
this Nation has ever faced. Our government is not prepared to meet 
their needs. Medicare could be insolvent in the near future. In just a 
few years, Social Security could be in the red.
  The implications are frightening. Seniors currently rely on Social 
Security for nearly half of their incomes. Medicare provides a 
staggering amount of the elderly with their basic insurance benefits.
  That is why the Republican Congress has taken the first step. We 
stopped the 30-year raid on the Social Security trust fund, and also on 
Medicare. Republicans made retirement security a priority and followed 
through on our word. Now Congress has adopted a lock box on the Social 
Security program and the Medicare program.
  Madam Speaker, Republicans stopped Congress from spending the surplus 
out of these trust funds for new spending programs.

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