Obama calls for protecting Medicare

2012-08-25 14:45
US President Barack Obama urged Ethiopia's interim leader to boost Addis Ababa's support for democracy and human rights. (AP)

US President Barack Obama urged Ethiopia's interim leader to boost Addis Ababa's support for democracy and human rights. (AP)

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Washington - US President Barack Obama called on Saturday for protecting Medicare - a government-run health insurance programme for the senior, drawing a sharp distinction between his plan and that of his Republican opponents.

"Here in America, we believe in keeping our promises - especially to our seniors who have put in a lifetime of hard work and deserve to enjoy their golden years. That's what Medicare is all about," the president said in his weekly radio and internet address.

"That's why we need to strengthen and preserve it for future generations," he continued. "And as long as I have the honour of serving as your President, that's exactly what I'll do."

Medicare emerged as a campaign issue earlier this month, when Republican presidential hopeful Mitt Romney chose Representative Paul Ryan of Wisconsin as his running mate.

Ryan is known for his broad and controversial plan to reduce government spending, which included a reform of Medicare, whose costs are projected to increase to over $920bn a year by 2020, threatening the programme's solvency.

Ryan's plan calls for keeping Medicare unchanged only for people aged 55 and over and introducing a voucher option for the younger generation.

Under the plan, the vouchers would be used to purchase private health insurance.

But Obama argued the Republican plan would hurt rather than help the senior.

"That means that instead of being guaranteed Medicare, seniors would get a voucher to buy insurance, but it wouldn't keep up with costs," he said. "As a result, one plan would force seniors to pay an extra $6 400 a year for the same benefits they get now. And it would effectively end Medicare as we know it."

The president said he was willing to work with anyone to keep improving the current system.

"But I refuse to do anything that undermines the basic idea of Medicare as a guarantee for seniors who get sick," he said.

Read more on:    barack obama  |  mitt romney  |  paul ryan  |  us  |  us elections 2012

SHARE:

Read News24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining

Inside News24

 
/News
 

Top 10 richest musicians of all time

Check out the gallery to find out who they are!

 
 

Luxury living

10 of the most expensive things that will leave your jaw hanging!
Seven of the most expensive children's toys ever made
5 millionaires turned murderers
The youngest billionaires in the world and how they made it
Horoscopes
Aquarius
Aquarius

There is a tendency towards setting your expectations too high which will result in disappointment. Try not to let your thoughts...read more

There are new stories on the homepage. Click here to see them.
 
English
Afrikaans
isiZulu

Hello 

Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.


Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.

Settings

Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.




Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.