U.S. Senator Sam Brownback commented on this year’s expected Social Security budget shortfall and called for the repeal of the recently passed health care bill.
“With such a hugely expensive health care reform bill passed this week, few have noticed the devastating news that Social Security will pay out $29 billion more in benefits than it collects in taxes,” said Brownback.  “With such tough economic times, we are witnessing the beginning of many fiscal problems that entitlement programs will face as more and more Americans hit retirement age.  This is another proof point that this is not the time to enact a new entitlement program costing over $900 billion that also cuts Medicare.”
The Congressional Budget Office this week announced that Social Security will pay out more in benefits than it receives in taxes.  This shortfall comes six years sooner than CBO had anticipated.
Brownback continued, “I call for the repeal of the health care legislation that passed this week with zero bipartisan support.  The federal government is over-spending; we are digging a deeper and deeper hole by creating new entitlement programs when we can’t afford the obligations we have now.”