NEW YORK DEMOCRATS MUST GET SERIOUS ABOUT ENTITLEMENT REFORM: NEW YORK REPUBLICANS
“Future generations will damn them for their inaction.”
FOR IMMEDIATE RELEASE
Contact: Becky Miller
December 5 — Albany, NY … Today, the NY GOP released the following statement on entitlement reform:
Medicare and Social Security will cease to exist as viable programs for younger New Yorkers without significant structural reforms, yet New York Democrats in Congress are refusing to do what’s necessary to save those programs in the long term because it’s politically unpopular, the New York State Republican Committee today charged.
Social Security is scheduled to go bankrupt in 2033 and Medicare will fold in 2024, according to the Congressional Budget Office.
“We know New York Democrats are itching to raise taxes — they always are — but their refusal to do anything about our unsustainable entitlement programs is even worse,” said New York State Republican Chairman Ed Cox. “Tax increases may drive us back into a recession, but a refusal to do anything about the massive debt crisis we are facing threatens the entire social safety net in this country for generations to come. We need true leaders to step forward in Congress to do what has be done, regardless of the political consequences. That’s what leadership is all about.”
U.S. taxpayers are $16 trillion in debt, yet the federal government continues to run up annual deficits in excess of a trillion dollars per year, Mr. Cox noted. When unfunded liabilities for Social Security, Medicare, Medicaid and federal pensions are added in, the true debt taxpayers are facing exceeds $75 trillion, according to conservative estimates.
“It is unconscionable that New York Democrats are once again trying to kick the can down the road on entitlement reform,” Mr. Cox continued. “Future generations will damn them for their inaction.”