( CNN ) -- This week , Americans were confronted -- yet again -- with more of the same refusal by President Barack Obama to take on the greatest long-term threat to our economic and health care security . Consistent with his track record , the president 's annual budget proposal offers no credible reforms for our entitlement programs that will ensure their solvency in the years to come . Instead , his budget reflects the same disregard he demonstrated last month , in his 7,000-word State of the Union address , in which only 40 words were used to talk about Social Security and Medicare . The fact is Social Security and Medicare , vital to the welfare of tens of millions of Americans , account for nearly half of all federal spending . That percentage will continue to increase in the coming years . Left on its current trajectory , overall entitlement spending is projected to more than double by 2049 , thus consuming 100 % of all tax revenue . It should be no surprise that the payroll tax-supported trust funds that pay out Social Security and Medicare benefits are speeding toward a financial collapse . The Congressional Budget Office projects that Medicare in its current form will be bankrupt by 2022 . Social Security 's chief actuary calculates that a 23 % cut in benefits in 2036 will be required in order to maintain solvency of the Social Security Trust Fund . Of the two programs , Social Security can be shored up for nearly a generation with simple modest reforms . Medicare reform is far more complicated . However , if Congress passes a bipartisan Social Security reform , then the momentum of that accomplishment can prompt leaders of both parties to tackle Medicare reform . Last year , I introduced the Defend and Save Social Security Act , which would ensure that Social Security is solvent for the next 75 years , through very gradual yearly increases of only three months per year in the retirement age and a modest adjustment to the annual cost-of-living increases . It would keep core benefits untouched and requires no new taxes . Enacting such modest , incremental changes would avoid bankrupting the trust fund and forcing a 23 % cut in core benefits in 2036 . As with Social Security , much-needed changes to Medicare would require open debate . Several promising proposals for reforming Medicare have been brought forward in Congress . I applaud those of my colleagues of both parties who are working to find responsible solutions to this important issue . Senators Tom Coburn and Joseph Lieberman have proposed a plan that would : ( a ) adjust the Medicare eligibility age to reflect gains in life expectancy ; ( b ) cap out-of-pocket costs to protect recipients from bankruptcy in the event of a major illness ; and ( c ) require wealthier beneficiaries to pay higher premiums . Another proposal , coming from Rep. Paul Ryan and Sen. Ron Wyden , offers seniors a choice among Medicare-approved private plans , which would compete alongside a traditional Medicare plan . The fact is Medicare as we know it may not exist in coming years if Congress does not take steps now to preserve the program . Every year we do nothing makes the inevitable task of structural reform all the more difficult . Constructive dialogue and timely reforms are required to assure health care security for millions of current and future retirees . In recent years , critics of the various entitlement reform proposals have claimed that many of the proposed changes will `` kill '' Social Security and Medicare . But , in fact , as the numbers show , the status quo will kill these programs . Criticizing serious attempts at entitlement reform without offering alternatives to the status quo is the least compassionate and least responsible option for Americans . Entitlement reform can not wait . Just as Social Security and Medicare programs were enacted with broad bipartisan support , securing and saving these programs will require nothing short of both parties of Congress working together . Ultimately , it will hinge in large part on President Obama 's level of courage to confront this pressing issue . Follow CNN Opinion on Twitter . Join the conversation on Facebook . The opinions expressed in this commentary are solely those of Kay Bailey Hutchison .
Sen. Kay Bailey Hutchison says entitlement reform is critical to our health care security . She says Social Security and Medicare funds will head toward bankruptcy if action is not taken . Hutchison : It 's time for President Obama to focus on reforming these programs . She says Congress should also step up to find a bipartisan solution .