[Weekly Compilation of Presidential Documents Volume 36, Number 26 (Monday, July 3, 2000)]
[Page 1543]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
Statement on Senate Action To Protect Medicare Surpluses

June 29, 2000

    I am pleased that the Senate followed the leadership of Vice 
President Gore by agreeing to lock away Medicare surpluses for debt 
reduction to help prepare for Medicare's future challenges. Before we 
make any other major budget decisions this year, we should agree that 
Medicare funds should not be used to finance tax cuts or other spending. 
Walling off Medicare will further strengthen our fiscal discipline by 
locking in $400 billion of additional debt reduction and help keep our 
economy strong. The Conrad-Lautenberg amendment passed by the Senate 
today would truly protect Medicare and enhance our fiscal discipline. 
This amendment takes Medicare fully off budget, as the Vice President 
proposed, and as we have done with Social Security. I look forward to 
working with Congress on a Medicare off-budget lockbox bill that I can 
sign this summer.
    Earlier this week, I made an offer for bipartisan cooperation on 
America's priorities. I called for establishing a foundation of fiscal 
discipline--the Conrad-Lautenberg amendment would accomplish that. I 
urge Congress to pass a plan that gives real, voluntary Medicare 
prescription drug coverage that is available and affordable for all 
seniors. Only if Congress does this, would I then be willing to sign 
broader marriage penalty relief legislation.