|
 WASHINGTON (AP) - President Bush signed a measure Wednesday that trims Medicaid and Medicare spending over the next five years, but he said Congress must make bigger changes as baby boomers retire.
Bush said programs such as Medicare, Medicaid and Social Security are the biggest long-term challenge to the budget. Even after the cuts he signed into law, the growth rates projected for the programs are unsustainable, he said.
"By 2030, spending for Medicare, Medicaid, and Social Security alone will be almost 60 percent of the entire federal budget," Bush said just before signing the Deficit Reduction Act in the East Room of the White House.
|