Lubbock Times

House Budget Committee Chairman Jodey Arrington (R-TX) appeared on Maria Bartiromo’s Wall Street on Fox Business to discuss the impending insolvency of Social Security and Medicare, as well as the financial implications of the border crisis. This follows the recent submission of annual reports by the Social Security and Medicare Trustees to Congress, which outline a concerning financial future for these vital programs.

In response to these reports, Chairman Arrington released a statement expressing concern over misleading figures presented in the Medicare Trustee report. He noted that an apparent extension of five years to Medicare's solvency timeline was due to a cost-shift from the Medicare Trust Fund to taxpayers and seniors via outpatient care and Medicare Advantage plans. He also highlighted that increased payroll taxes were not indicative of economic health or wage growth but were instead a result of federal stimulus and inflation.

Arrington criticized both parties for their lack of plans to address these issues, stating, “Neither party has offered a plan to address the solvency of these important safety nets for seniors." However, he did note that under Republican leadership, a bipartisan Debt Commission had been passed out of the House Budget Committee. This commission aims to bring lawmakers together to find solutions for immediate solvency and fiscal sustainability of Social Security and Medicare while reducing US Debt-to-GDP ratio.

He emphasized that failure to act would lead to automatic cuts in benefits for seniors, increased deficit spending, and an economic crisis driven by debt. He stated: "To do nothing about Social Security and Medicare is to ensure an automatic cut in benefits to seniors, trillions of dollars more in deficit spending, and a debt related economic crisis."

During his interview on Fox Business, Arrington further discussed his views on Social Security and Medicare: "Under my chairmanship, our Budget Committee passed a bipartisan commission like the Greenspan Commission that preceded Ronald Reagan and Tip O'Neill... Real leadership will require getting both parties at the table to deal with this and put their country first.”

He also addressed the border crisis, labeling it as a self-inflicted crisis by President Biden that poses an imminent threat to American safety. He highlighted the financial burden on taxpayers at all levels of government, stating: “Everybody, I think by now, knows the most imminent threat to the safety of the American people is our wide-open border... But one of the things we don't talk enough about is the hit to taxpayers at the state, local, and federal level."

Arrington concluded his interview by noting that each illegal immigrant costs approximately $9,000 — more than what is spent on Medicaid benefits for vulnerable Americans or military retirement for veterans. He described this situation as not only financially unsustainable but also unconscionable.