Clinton Renews Call to Shore Up Medicare Funding
Saying Americans should support lawmakers who “think about the long run,” President Clinton on Thursday promised to veto Republican tax cuts if they fail to devote a share of federal budget surpluses to bracing Medicare for the coming wave of baby boomer retirees.
“No serious expert on Medicare believes we can stabilize Medicare without an infusion of new revenues,” Clinton said during a public forum at a community college. He mentioned a statement of support from 50 leading economists who advised against large tax cuts right now, and he said Republican lawmakers should address the long-term needs of Americans who will need Medicare.
The president has proposed universal Medicare coverage for prescription drugs, at a cost of $118 billion to taxpayers over 10 years and a $24-a-month premium charge to beneficiaries. Clinton wants to use some of the $794 billion in federal budget surpluses projected over the next 15 years to pay for it.
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