January 18, 2013
Dear Member of Congress:
Business Roundtable CEOs, who lead major American companies that collectively employ nearly 16 million workers and generate more than $7.3 trillion in annual revenues, believe that entitlement modernization is an essential element of any successful economic growth and debt-stabilization strategy.
Medicare and Social Security are underwriting an increasing portion of our lives and, from a financial point of view, they are simply not capable of doing so. Business Roundtable CEOs want to ensure that future generations of American retirees can rely on the assurance of basic retirement security.
We have attached recommendations for Social Security reform and Medicare modernization that would gradually bring these programs into alignment with America’s fiscal and demographic realities while fully protecting current retirees and those near retirement. If enacted, these modernization reforms would go a long way toward putting America’s fiscal house in order while preserving the safety net for future generations of retirees.
Thank you for your attention to this vital issue.
Gary W. Loveman, Ph.D.
Chairman, CEO & President
Caesars Entertainment Corporation
Chair, Business Roundtable Health and Retirement Committee
Chairman & CEO
Vice Chair, Business Roundtable Health and Retirement Committee