Hoyer Highlights Exploding Costs of Medicare and Social SecurityBy Tim Penny

Democratic Majority Leader Steny Hoyer is to be applauded for his solid and compelling speech last week on the fiscal state of the nation. He was firm in his commitment to a "pay as you go budget

Even more encouraging was Hoyer's "call to action" on the long term entitlement crisis. He correctly highlighted the fiscal tsunami that will soon hit as babyboomers begin retiring. The resulting explosion of costs in the Medicare and Social Security systems will lead to enormous deficits in the years to come. Because the promised benefits of these programs are not subject to "pay as you go" rules - some other means must be devised to control these future costs. Hoyer suggested a truly bipartisan effort - specifically citing several of his congressional colleagues (including Senators Conrad and Gregg) who have proposed commissions or task forces to bring all sides to the table - and, more importantly, place all options on the table.

Second, any serious solution must garner bipartisan support. On behalf of Republicans, President Bush has long championed the need to address these issues. Now, thankfully, top Democrats, like Hoyer, are joining the cause.

With an election looming, it may be expecting too much that such an approach could lead to agreement on a Social Security (and/or Medicare) fix before next November. But, maybe (as in 1982) such a panel could begin their work with an eye toward a report that would set the stage for an up or down vote immediately after the coming election.