Statement by Secretary Lew on the Releases of Social Security and Medicare Trustees Reports

U.S. Treasury: May 31, 2013

WASHINGTON – The Social Security and Medicare Boards of Trustees met this afternoon to complete their annual financial review of the programs and to transmit their Reports to Congress.  I’d like to welcome my fellow Trustees. I also want to acknowledge the chief actuaries, Stephen Goss and Paul Spitalnic, and their staffs. Thank you all for your hard work.

Today’s reports make clear that while both Social Security and Medicare have sufficient resources to meet their obligations for at least the next decade, it is important that we put in place reforms to strengthen these programs. Fundamentally, Social Security and Medicare benefits are secure today, but reform will be needed so that they will continue to be there for current and future retirees.
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