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Updated: June 29, 2025
Yet today millions of people retire with little to live on other than Social Security. Americans living longer than ever simply must save more than ever. Therefore, in addition to saving Social Security and Medicare, I propose a new pension initiative for retirement security in the 21st century.
Taken together, these proposals would mark the largest investment in health care in the 35 years since the creation of Medicare a big step toward assuring health care for all Americans, young and old. We must also make investments that reward work and support families.
Indeed, we must make these investments and tax cuts in the context of a balanced budget that strengthens and extends the life of Social Security and Medicare and pays down the national debt. Responsibility and Crime
We should give people between the ages of 55 and 65 who lose their health insurance the chance to buy into Medicare. And we should continue to ensure access to family planning. No one should have to choose between keeping health care and taking a job. And therefore, I especially ask you tonight to join hands to pass the landmark bipartisan legislation proposed by Sens.
Virtually all of this expenditure increase represents the mandatory cost of our defense efforts, $3 billion; increased interest, almost $1 billion; or mandatory payments under laws passed by Congress such as those provided in the Social Security Act that you passed in 1967, and to Medicare and Medicaid beneficiaries, veterans, and farmers, of about $4 1/2 billion; and the additional $1 billion 600 million next year for the pay increases that you passed in military and civilian pay.
My budget includes a comprehensive plan to reform Medicare, to make it more efficient and competitive. And it dedicates nearly $400 billion of our budget surplus to keep Medicare solvent past 2025; and, at long last, to give every senior a voluntary choice of affordable coverage for prescription drugs. Lifesaving drugs are an indispensable part of modern medicine.
With my active support, the Congress recently passed "Medigap" legislation, which provides for voluntary certification of health insurance policies supplemental to Medicare, to curb widespread abuses in this area. In the area of toxic agent control, legislation which I submitted to the Congress recently passed. This will provide for a "super-fund" to cover hazardous waste cleanup costs.
We should give people between the ages of 55 and 65 who lose their health insurance the chance to buy into Medicare. And we should continue to ensure access to family planning. No one should have to choose between keeping health care and taking a job. And therefore, I especially ask you tonight to join hands to pass the landmark bipartisan legislation proposed by Sens.
The G.I. Bill for workers, tax relief for education and child rearing, pension availability and protection, access to health care, preservation of Medicare and Medicaid these things, along with the Family and Medical Leave Act passed in 1993 these things will help responsible, hard-working American families to make the most of their own lives.
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