(CNSNews.com) - President Bush has been pressing for Social Security reform since his first presidential campaign in 2000, but congressional Democrats have rebuffed him again and again.

During George W. Bush's State of Union Address in 2006, Democrats actually applauded when the president reminded them they had failed to act on his Social Security overhaul plan, despite pressing concerns about its future. (See story)

Democrats are still refusing to touch Social Security or Medicare. Earlier this month, House Republicans accused Democrats of "playing the role of the ostrich" in refusing to confront the looming entitlement crisis in their budget plan.

"Medicare and Social Security are headed for bankruptcy," House Republican Leader John Boehner reminded Democrats on March 5.

On Tuesday, just 20 days later, the Social Security and Medicare Boards of Trustees released their annual reports on the financial health of the two huge programs.

The Social Security Trust Funds will run out of money in 2041 unless changes are made. And years before that, in 2017, tax revenues will no longer meet the costs of the program. The Medicare Trustees said the Hospital Insurance Trust Fund will become insolvent in 2019.

Blaming Bush

House Speaker Nancy Pelosi released a statement on Tuesday, saying the annual reports on Social Security and Medicare reveal "another squandered opportunity by President Bush."

According to Pelosi, "The Bush Administration decided to place tax cuts for the wealthiest Americans ahead of putting Social Security and Medicare on more solid footing."

Pelosi argues that Bush "inherited a projected $5.6 trillion surplus upon entering office," and she insists he "could have used some of this surplus to strengthen Social Security and Medicare for the baby boomers and future generations.

"By turning that projected surplus into a $3 trillion deficit, the President not only failed to protect these twin pillars of retirement security, but also made it more difficult for future policymakers to strengthen Social Security and Medicare," Pelosi said.

Democratic leaders refused even to discuss President Bush's proposal to let younger workers invest some of their earning in personal retirement accounts. Pelosi blasted the "privatization" of Social Security, calling it a "risky scheme."

But as Republicans have noted, Democratic leaders have never advanced a proposal of their own to save Social Security.

On Tuesday, however, Pelosi said, "The Democratic Congress is committed to keeping the promise of Social Security and Medicare to all Americans."

Pelosi's official Web site includes a list of Democratic accomplishments and another list of "agenda items" (future plans), but Social Security is not mentioned at all.

See Earlier Stories:
Dems Still Using Social Security Reform Against Republicans (June 7, 2006)
Dems Cheer Congress's 'Do Nothing' Approach on Social Security (Feb. 1, 2006)