Boyle Opening Statement at Hearing on Medicare and Social Security Solvency

WASHINGTON, DC —Today, Pennsylvania Congressman Brendan F. Boyle, Ranking Member of the House Budget Committee, delivered opening remarks at a Budget Committee hearing on “Medicare and Social Security: Examining Solvency and Impacts to the Federal Budget.”

Ranking Member Boyle’s remarks as delivered:

Thank you, Mr. Chairman, and I want to thank our witnesses, Mr. Goss and Mr. Spitalnik, for both being here today. I also want to welcome back my good friend Tom Suozzi, welcome him to the Budget Committee, and just let me already depart from my prepared text, which will probably be for the rest of my remarks, departing from my prepared text.

From the very beginning, a year and a half ago, Jodey and I, the Chairman and I, both said remarkably similar things our first day. And I do feel that we have largely 18 months later stuck to that, that essentially trying to split issues into two different camps. That on the first set of issues, we were really going to try to work in a genuinely bipartisan way. That there were things that this committee could and should be doing, such as oversight, especially in areas that hadn't taken place in quite a while. That we should be in the habit of doing markups, which we have done.

Finding bipartisan wins, recognizing that the House is narrowly Republican, the Senate is narrowly Democratic. If anything is going to be passed and signed into law, it is going to be by its nature, bipartisan. And also doing so in a way that shows the seriousness of the work of this committee.

There are plenty of others on Capitol Hill where they engage in the food fight and the nonsense. That's not why I'm here, and I know that's not why the Chairman is here. And I think that that tone that we have both worked to set has really been followed through by the members of this committee. And I was so pleased when yesterday, someone interviewing me, complimented both of us, who has been watching our hearings and has noticed, and commended both of us for that.

So that's on the first thing. On the second though, quite appropriately, there are also a set of issues that do lend themselves to strong partisan differences because they reflect the honestly held ideological differences between a proud conservative from West Texas and a proud Democrat from Pennsylvania, especially one who grew up in a labor family.

And I do think Social Security and Medicare, certainly are in that latter category. When I think of two of the main reasons why I'm a Democrat, Social Security and Medicare would be two of the first things that I would mention. They represent the core of the coalition Franklin Roosevelt put together a century ago, and that really is the heart and soul of the Democratic Party. To fight for hardworking Americans like the families in my district and certainly the family in which I was born and raised.

Social Security is the greatest anti-poverty program in American history. And then Medicare, the idea for it, of course, was first laid out by Franklin Roosevelt, wasn't achieved in his presidency. Harry Truman really picked up the mantle and fought valiantly for it, wasn't able to get it done. And then finally, in 1965, Lyndon Johnson, with a retired and much older Harry Truman standing right next to him, was able to sign that into law.

So I believe deeply in Social Security and Medicare. And what they represent even beyond the paychecks, what they say to the American people is that we have a basic commitment to all of those who are in our society that we are going to take care of you when you most need it. We're not going to allow you to retire into poverty or essentially die prematurely in old age because you lack health insurance and can no longer work.

So, so that is, is what I believe. And with those principles guiding me, I have certainly worked to do everything I can to ensure that Social Security and Medicare will be there, not just today, for my father, who is on both after working in manual labor jobs for more than a half century, paying into the trust funds for both, but that it will be there for myself when I retire and my generation as well as the generations to come.

Now, we have, as I'm sure we'll hear more about, the good news that we have until 2035 for the combined Social Security and Disability Insurance Trust Funds, as well as 2036 for Medicare, but ultimately Congress must ensure that these programs have the resources to continue paying full benefits.

As you gentlemen know, I am attempting to put our money where my mouth is. And not just saying that we should have more funds, but actually putting legislation into place or at least co-authoring it to ensure that we would have that. I am proud that I have introduced the bill along with my counterpart, the lead Democrat on the Senate Budget Committee, Sheldon Whitehouse.

The name of the legislation is the Medicare and Social Security Fair Share Act, which honors the commitment that I have just spoken about by closing corporate tax loopholes and equitably applying the payroll tax to the top 2 percent of earners. Both the actuaries with us today have verified that my bill would extend the solvency of Social Security and Medicare indefinitely.

And all without raising taxes even one penny on Americans who are making under $400,000 a year. So that is one approach. And it is the approach that poll after poll has shown is supported by the vast majority of Americans, even a sizable number of Republicans who are polled, when asked about that approach.

However, to be fair, that is not the only approach that is out there. And in the interest of bipartisanship, Mr. Chairman, I believe the Republican Study Committee budget is not getting as much attention as I think it should. So let me help my Republican friends with that, and get a little more PR for their budget.

And I would say, while it's the Republican Study Committee budget, not the budget that was passed out of this committee, 80 percent or so of House Republicans are a part of the Republican Study Committee, including, I believe, every member of Republican leadership. So it's not exactly like we're talking about some small group.

Their proposal, and I give them credit for honesty, because they put this out and, and put it in black and white, their plan cuts Social Security benefits for 257 million people. That's three out of every four Americans. They would do that by raising the retirement age from what will soon be 67 all the way up to 70.

That is completely unnecessary, and let me be clear, represents a cut, and a substantial cut because, of course, Americans would never earn back the revenue they would have received, without some sort of an increase in the retirement age.

I finally want to make this this point, and pause it there. There's a lot of confusion when people bring up about deficit and debt and understandably get concerned about some of the projections, get concerned about the $3

4 trillion debt figure. Let's be clear: Social Security has not added one penny to our national debt.

So let us not make the mistake of confusing a conversation about our annual deficits or the cumulative deficits, meaning our national debt, and the solvency of Social Security or the solvency of the Medicare trust funds, which are entirely separate issues.

With that, I see I've already gone over my time. I appreciate the indulgence, Mr. Chairman, and I yield back.

###