that is a reason why mexico is opening opportunities. that is why we are creating the specials for instance, the stock markets we are planning to shed stock markets and another quantitative measures. that is a reason high we have free trade agreement with all the parties of central america. that is the reason why we are planning and pushing for a free trade agreement with brazil even unfortunately some pressures under the brazilian government are moving back and putting some

restrictions to protect which is to the wift of no one. but the point is, we need and we want more trade and more benefits. because there is a future at least in the short and medium term. the economy is growing in the pacific sea. i am very sure that we get all the benefits of next decade for our countries. those are my comments and thank you for all your attention. thank you.

[ applause ] >> first of all you want to continue to enhance trade around the world between mexico and the rest of the world 44 trade agreements. two, you've reduced public debt. three, you want to invest in education reform and the people. and fourth you want to rederegulate. that sounds like the u.s. chamber's agenda here in the united states. after your tenure as president maybe you'll be invited back to talk about how we can work together. i thought it was a terrific comprehensive speech not only because you also plugged the u.s. chamber's mexico initiative and we thank you for your strong support but because we gave you a true sense of what has happened in mexico under president calderon's leadership.

>> i just want to congratulate president calderon for his great speech today, but mainly because of the numbers you have presented to us today. i'm sure i'm speaking on behalf of all the american chamber of commerce mexico to congratulate you during these five years you have really supported free trade. you have really supported foreign investment in mexico and that is something helping the country and the in your opinions are showing it today. congratulations, mr. president. >> thank you. >> thank you, mr. president. you've given us a wonderful review of all the reasons that

tree drad works and it's something that we need to be reminded of aufb here. as you instructed us, we need to remind our populations in both countries of that. some of the neighbors in the southern cone don't quite have the same attitude. we are taking seriously our responsibility. the economic situation and improving food security, green

growth, among others. for us it's absolutely clear that one of the most important alternative in order to recover growth in the world economy is trade. the measure from the whole group must be the same. we need more and not less trade. and we need more certainty and no less certainty. i do believe with full respect to other colleagues that the expropriation process are really things about the past. and no one lose more in an

expropriations than the country to do that. at least in these times. because economy need more foreign investment not less. i hope that this issue we need to move forward with our complex scenario that we are looking. that is important because we are taking really bold steps in terms of international problems

we are facing. i remember very well that in december that we are all passengers of the same boat and we need to take control of the failures together. it's not only a question that they need to face alone, but

also international sport is crucial. in that sense it is necessary. and other mechanism they have already in place. but also international action. what happened later. so we started to grow and then the countries started to

cooperate. and last march as the european countries are -- arrived to a very important conclusion regarding financial support, is it enough? probably not in terms of the response of the markets. but we are moving and we are on track in my opinion to a bold solution. and last friday, here in the united states there was another meeting of financial ministers. and they, there we arrive a very important conclusion. we committed more than $430 billion to imf. what's that mean? we are more than doubled, doubling the support to imf in order to prepare this institution to support local action in europe or other part of the worlds. it's a very important news. very important news. and you know to realize this that support to imf is without

the united states. unfortunately. i don't want to say they are not helping or you are not helping. the treasury is doing a lot but we realize the american government has a lot of political restrictions and need to pass a special law into congress in order to do so. the point is even without the united states we've got to the imf the support is needed to participate in the solution. so how do you say? the cavalry is coming. and we can see solutions. soik see the end of the tunnel. even the agenda for the future in terms of the issues i want

the most which is food security and green economy. >> i think the cavalry's going to come for you soon. let me just wrap up by saying a few things. first of all, you absolutely have the commitment of the u.s. chamber and our members in supporting your meetings in las cabbos. we'll be present, active and supportive of the agenda whether it's food security, dealing with financial risks and many other issues on your plate. so count on the commitment of the business meeting. second, you have the commitment of the u.s. chamber. you heard it from tom donahue and from the corporate members to continue to work to see that mexico joins the transpacific partnership agreement. you have our support. you have our commitment. and third, you saw it in the report you've seen it since you helped launching this initiative in 2010, you have our commitment to continue to grow the competitiveness of the north

american region in particularly with the focus on u.s. and mexico. and our report highlights some of the areas we'd like to continue to work with your government. finally, this is a man of great courage. a man of great conviction. a man what has clearly led his country to greater prosperity. we congratulate you. we wish you good luck in the final period of your time as president. and of course, you came here as president elect. you've come here as president. we expect you back after you have been president. so thank you very much and thank all of you beforing if here today. >> thank you very much. >> if everyone could stay seated as the president leaves the stage and another round of applause for him. thank you.

solicitor general retched the federal government in the arizona immigration law case wednesday. he was in front of the supreme court. paul clement represented arizona. the two were also the main lawyers in the health care case earlier this year. the court will decide whether arizona has the authority to inforce its own immigration law or whether that is the law of the federal government. c-span will air oral arguments of the arizona immigration law starting tonight at 8:00 p.m. eastern. that's on c-span. >> where's the national public radio table? you guys are still here? that's good. >> this weekend on c-span, the 98th annual white house coronets dinner. president obama and late night talk show host jimmy kimmel headline it be event.

a foreign audience of celebrities, journalists and the white house press corp. coverage starts with the red carpet arrivals live at 6:30. you can sync up your experience online at c-span's dinner hub. find the celebrity guest list, highlights of past dinners, plus blog and social media posts at cspan.org/whcd. the white house core respondents dinner live saturday at 6:30 p.m. eastern on c-span. >> the social security trust fund will not be able to pay out full benefits beginning in 2033, three years earlier than projected last year according to an annual report released by social security trustees. treasury secretary geithner was joined by health and human services secretary and labor secretary. he accredited the affordable care act with setting the

medicare program on path to save $200 billion by 2016, but acknowledge that had the program still will exhaust funds by 2024. that's the same prediction as last year. this is about 30 minutes. >> every year reports are issued to congress on the strength of these two indispensable programs. and we just met to complete this review and transmit to congress on these reports. millions of americans rely on social security and medicare for income and health care. and millions more will do so in the future. as tow's reports make clear, these programs have resources they need to fulfill their commitments to the american people for years to come. but what these reports also re-enforce is that we must -- we must take steps to keep these programs whole for the future.

pressures on these programs are mounting and americans are living longer and the number of retirees are growing. the reports suggest retirement and social security funds have benefits sufficient for the next 20 years. in 2033 incoming revenues will be insufficient to maintain the payment of full benefits. after that time, dedicated funds will be sufficient to cover about 3/4 of full benefits. the projections are sma more pessimistic than last year's projections for the combined social security and disability trust funds the 75-year actual

yal imbalance is up .4 of a person yants point. this is large part due to the trustees assumptions of lower real wages over the 75-year projection period. with regard to medicare, the projected actuarial imbalance has changed due to projections recommended by the 2010 and 2022 medicare technical review panel. while uncertainty surrounding these 75-year projections is very substantial, nonetheless these reports emphasis the importance of building consensus on reforms that will put these programs on a sounder financial footing for the future. the affordable care act began

with measures to be strengthen medicare reigning in health care cost growth. one of the things to do now is to preseven medicare is to implement the health care act. the president has put forward a detailed plan to further reform and strengthen medicare by the beginning of the next did decade his plan achieves the same amount of annual health care savings as the bipartisan plan proposed by simpson boles recommended. the president's approach would lower cost by changing the way we pay for health care with new incentives for doctors and hospitals eliminating excess subsidies to prescription drug companies and asking the wealthiest seniors to pay a little more. the president is committed to keeping social security strong particularly as more private employers move away from defined benefit plans. in his state of the union address last year the president

outlined a set of principals for reform. these principals emphasize the importance of a bipartisan solution that strengthens social security and does not hurt current recipients, slash benefits for future retirees or tie the program to the stock market. as we work to strengthen social security and medicare, it is critical that reforms are slowly phased in over time so that current beneficiaries are not effected and so that future beneficiaries do not experience precipitous changes. at the same time, adjustments to social security and medicare must be balanced and even handed. we will not support proposals that sow the seeds of their destruction many the name of reform or shift the cost of health care to seniors in order to sustain tax cuts for the most fortunate americans. social security and medicare are the twin pillars of retirement security in this country. they are as president obama has said, expressions of the fact that we are one nation.

these programs which are rooted in a basic american sense of fairness and responsibility have been supported across generations by both political parties in both democratic and republican administrations. thank you. i'm going to turn the floor over to my colleague and fellow trustee. thank you secretary geithner, today's report confirms that medicare is in a much stronger position than a few years ago thanks to a affordable care act. without the health care law, the hospital insurance trust fund would be exhausted in 2016 just four years from now. but as a result of the law we've added another eight years to its life putting medicare on much more solid ground. the law does this through a range of reforms. from cracking down on fraud to helping providers prevent costly medical errors, to reducing excess payments to medicare

advantage plans. as a report our department released today shows, this first wave of reforms will save medicare more than $200 billion my 2016. while also lowering costs for americans with traditional medicare by nearly $60 billion. that's real money in people's pockets. in addition, the report describes reforms in the law that could lead to even bigger savings down the road by addressing the misaligned incentives that are a major driver of rising medicare costs. we know that many leading health systems have reduced costs by improving care. for example, by managing care more effectively for patients with chronic conditions to keep them healthier and out of the hospital. but in the past, the medicare payment structure has made it difficult for providers to provide that kind of care. the health care law begins to break down those barriers with new reforms that freed doctors

and nurses to deliver higher kwult, more efficient care. these incentives are just in the beginning phases, we're confident they'll improve care and save money. that mean it's possible in the long run medicare may do more to stabilize finances than the report today indicates. still as secretary geithner said, more work remains to be done. today's report shows that medicare per enroll lee spending will continue to grow as a slower pace than the private insurance industry. again, thanks in part to the health care law. but it also shows that overall medicare costs will continue to grow because of our aging population. that's why secretary geithner noticed the president has put forward a budget that builds and expands on the reforms in the affordable care act by doing even more to cut waste and fraud, reduce unnecessary payments and help providers

deliver more efficient care. unlike some of the other plans that have been put forward, this san approach that will put medicare on a stable trajectory without eliminating the guaranteed benefits that beneficiaries have counted on for decades or shifting tremendous new costs on to seniors. it's an approach that makes sure a strong medicare is there for our children and our grandchildren. today's report shows that this approach can work. and it also makes clear how important it is that we continue to implement the reforms in the health care law and in the president's budget to secure the promise of medicare for generations to come. >> good afternoon, everyone. and thanks for joining us today. today we herd about the long-term financial future of social security and medicare. these programs serve as a critical lifeline for millions of americans specially for those

experiencing these tough economic times. today close to 54 million americans receive social security benefits that includes 38 million retirees, ten million americans with disabilities and six million survives of deceased workers. social security also serves as a critical role in combatting poverty in this country. in fact, it's estimated that if social security payments were excluded from income the number of older people in poverty would incroce by almost 14 million individuals. however, challenges remain for social security and medicare and thus the retirement security of many americans who depend on the benefits they provide. secretaries have both stressed the importance of legislative actions to address these challenges. we know that cost for both programs are continued to increase due to the continued retirement by the baby boom generation and lower birthrates for younger generations. people are also living longer and the cost of health care per

beneficiary has continued to rise especially in private health insurance, but also for our public programs. reducing the long-term costs of medicare will depend largely on provisions of the affordable care act which will take effect in the coming years. that's one big reason while ensuring the historic implementation of the health care law is so important. there are other steps that strengthen the solvency of the social security and health care trust funds. critical to this effort is a critical and sustained economic recovery. in the past 25 months, the economy has generated four million jobs. layoffs have decreased to 2006 levels and the unemployment rate has decreased from a peak of 10% at the height of the recession to 8.2% today. we've made steady progress, but we're not out of the woods yet. we have a lot more work to do to make every person in every community thriving again. putting more people back to work now is crucial to the health of

the social security and medicare trust fund. when more people are working our payroll tax base grows. so do the trust funds as more people are able to contribute to them. so we're taking concrete steps to put beam back on the job. the recent extension of unemployment insurance and important reforms are critical to this effort in providing better services and more flexibility, we're turning the unemployment system into a reemploit system make it easier and quicker for people to get back to work. we're finding job training nirktives making sure that the skills workers gain in the classroom match what employers are look for in the office or factory floor. in addition over the past two years we have worked strategically to incentivize businesses to put more people back to work. we continue to support policies and encourage disabled and older workers to stay on the job. this effort also helps to address the solvency of the trust funds. many disabled workers can and do want to work.

so we've got to help them do just that as quick as we can. we put forth a number of initiatives to speed up medical recovery to get folks off disability insurance and back on the job. currently we're collaborating with the social security administration to build on this important work. over the last three years the department of labor has helped 16 states provide disability insurance claimants with targeted job coaching and training to help them get back to work. last year alone the number of one stop career centers engaging with participants of the saas ticket to work program increased by 34%. together we're helping those who can get back to work do so. we're making sure that they keep part of their benefit so they can get the need that they help to transition back to work. social security and medicare provide a safety net for millions of americans retired workers and beneficiaries. many of whom are low income and depend on these programs for their very survival. we must act soon to address the

immediate and long-term imbalances between income and costs of the program. the earlier these reforms can be made the more options and time we have to better prepare for those affected and to easy the burden on our most vulnerable communities. thank you. >> i would like to begin by commending the politics trustees for their important contributions to this year's report. this report is the first one since 2007 where we had the benefit of two confirmed whether i can trustees for the full year of pab pain staking work. and worked together in a bipartisan fashion that should be a model or fall of us in washington. having themen board has made an enormous difference in techniques of economic analysis to plain language. speaking of bipartisan congeniality, it is time for congress to take on the task of retooling social security for the long haul.

this year's three-year movement on the exhaustion day for the oaski trust fund makes legislative action more critical than ever. congress must begin the process of deciding what levels of benefits and taxation best serve the interest of younger americans who are increasingly uncertain as to whether they can count on social security. it is also now vital for congress to consider reallocating assets between the trust funds so disabled americans do not have to fear reductions of benefits in 2016. finally, as in the past, i want to urge you in the media not to complicate congress's responsibilities. please, please remember that exhaustion is an acttary yal term of art and it does not mean there won't be any money left to pay benefits. even if dock does not