June 22,2016

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Taylor Harvey (202) 224-4515

Wyden Statement on the Social Security and Medicare Trustees’ Reports

WASHINGTON - Senate Finance Committee Ranking Member Ron Wyden, D-Ore., today issued a statement following the release of the 2016 Social Security and Medicare Trustees’ Reports:

“Social Security and Medicare are together a fundamental guarantee to older Americans that they will have financial and health care security in their later years,” Wyden said. “Today’s reports shows Medicare spending per beneficiary growing slower than the economy and health care spending as a whole, and Social Security’s status is stable since last year’s report.

“But the reports also reveal there is important work ahead to ensure the guarantee is strengthened for the next generation of Americans. Escalating drug prices are having an unprecedented impact of Medicare’s balance sheet. And Social Security’s finances have been improved thanks to action last year, but further action is needed to fully secure the benefits of workers and their families.