Romney Campaign Press Release - Romney: President Obama's $716 Billion Medicare Cut Is A Mistake

"Under the current projections, Medicare will be insolvent in 12 years, and that's not acceptable to me. That's why we have worked very hard to come up with a solution. But, the idea that the President has put forward, cutting $716 billion out of Medicare? I think that's a real mistake." — Mitt Romney

Fox 35 Orlando

August 15, 2012

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MITT ROMNEY: "But I would note that the President has a plan for people who are 55 years and older. If Obamacare is allowed to be installed, Medicare will be raided by $716 billion. The President takes $716 out of the Medicare trust fund to pay for Obamacare. I think this is something which seniors are going to be very concerned about. Paul Ryan and I are talking about what adjustments we should make to Medicare for young people so that when they come along and become seniors, that they have a program that's solvent. Under the current projections, Medicare will be insolvent in 12 years, and that's not acceptable to me. That's why we have worked very hard to come up with a solution. But, the idea that the President has put forward, cutting $716 billion out of Medicare? I think that's a real mistake."