    [Public Papers of the Presidents of the United States: WILLIAM J. CLINTON (2000, Book I)]
    [June 24, 2000]
    [Pages 1248-1249]
    [From the U.S. Government Publishing Office www.gpo.gov]

    The President's Radio Address
    June 24, 2000

        Good morning. This week we mark the beginning of summer, another
    summer of national prosperity, continuing the longest economic expansion
    in our history. The big question now is what we intend to do with this
    economic prosperity. One of our most pressing needs, clearly, is
    providing voluntary prescription drug coverage under Medicare for older
    Americans. We should do it this year.
        The American people have made their feelings clear. They know our
    seniors are paying too much for prescription drugs that help them live
    longer, healthier, more fulfilling lives. Three in five older Americans
    don't have dependable insurance coverage for prescriptions, and too many
    seniors simply aren't getting the drugs they need.
        Again and again I've said it should be a high priority to add a
    prescription drug benefit to Medicare this year. But we must do it the
    right way, by making the benefit affordable and available for everyone
    who needs it.
        I'm deeply concerned that the proposal House Republicans put forward
    this week will take us down the wrong road. What they have proposed is
    not a Medicare benefit; it's a private insurance program which many
    seniors and people with disabilities simply won't be able to afford. It
    will not offer dependable coverage to every American in every part of
    the country. Rural

    [[Page 1249]]

    Americans will be at particular risk because private insurance is often
    unavailable to them or very, very expensive.
        The plan doesn't ensure that seniors will be able to use the local
    pharmacist they trust. Insurance companies have already said this model
    won't work. It benefits the companies who make the drugs, not the older
    Americans who need to take the drugs.
        There is a better way. I propose giving all our seniors the option
    of a prescription drug benefit through Medicare, wherever they live,
    however sick they may be. My plan would be affordable and dependable and
    give every senior equal coverage.
        Because our economy is so strong and because we worked hard to put
    the Medicare Trust Fund back on sound footing, we have the money to do
    this now and do it right. We should use a part of our hard-earned budget
    surplus to meet America's most pressing priorities, like paying down the
    national debt, strengthening Medicare, and providing a prescription drug
    benefit.
        That's why next week I will propose using the surplus to improve my
    plan. I will unveil specific protections for catastrophic drug expenses
    to ensure that no senior pays more than $4,000 in prescription drugs and
    keeping premiums at $25 a month. And I'll propose making that benefit in
    the full prescription drug initiative available in 2002, instead of
    2003. To do that, I'll ask Congress to add about $58 billion to our
    funding for Medicare over the next 10 years.
        Providing a voluntary prescription drug benefit is only one of the
    challenges we must face to keep Medicare healthy for generations to
    come. We also have to increase payments to hospitals, teaching
    facilities, home health care agencies, and other providers, to make sure
    Medicare patients get high-quality care. Earlier this week, I proposed
    that we use $40 billion of the surplus to do that.
        We should also follow Vice President Gore's proposal to take Medicare off budget, like Social
    Security, so that the Medicare taxes you pay cannot be diverted for
    irresponsible tax cuts or other Government spending that could lead us
    back to the bad old days of deficits and give us higher interest rates.
    This will protect Medicare and make a major contribution toward paying
    down the debt. And I propose using the savings from debt reduction to
    extend the life of the Medicare Trust Fund through at least 2030, when
    the number of Medicare people will be double what it is today.
        We're fortunate--very fortunate--to live in a time of budget
    surpluses and remarkable prosperity, but we didn't get there by
    accident. We maintained our fiscal discipline, invested in our people,
    made good on the commitments that matter most. We can't let up now. And
    we have few responsibilities more important than helping our older
    Americans live out their lives with quality and in dignity.
        We have the opportunity to meet that responsibility with a
    straightforward plan that all seniors can buy into. We have growing
    bipartisan agreement in the Senate that this is the way to go.
        I hope as we mark the 50th anniversary of the Korean war tomorrow,
    we'll remember that a generation of Americans who did not let us, their
    children and grandchildren, down. And in return, we owe it not to let
    them down.
        Thank you for listening.

     Note:  The address was recorded at approximately 5:45 p.m. on June 23
    at a private residence in Los Angeles, CA, for broadcast at 10:06 a.m.
    on June 24. The transcript was made available by the Office of the Press
    Secretary on June 23 but was embargoed for release until the broadcast.