|
But the GOP plan calls for transforming Medicare in the future by replacing the current system, in which the government directly pays doctor and hospital bills, into a voucher-like program in which future retirees purchase private insurance plans. People 55 and over would stay in the current system but younger people would receive the insurance subsidies, which economists say would gradually lose value over time because they wouldn't keep up with inflating costs of medical care. Obama and Democrats say the GOP Medicare plan, devised by Budget Committee Chairman Paul Ryan, R-Wis., would "end Medicare as we know it." On Wednesday, Obama said spending cuts and higher taxes alike must be part of any deficit-reduction plan, including an end to Bush-era tax cuts for the wealthy. "We have to live within our means, reduce our deficit and get back on a path that will allow us to pay down our debt," the president said in a speech at George Washington University, a few blocks from the White House. "And we have to do it in a way that protects the recovery, and protects the investments we need to grow, create jobs and win the future." Obama's speech was salted with calls for bipartisanship, but it also bristled with attacks on Republicans. "What we got was a speech that was excessively partisan, dramatically inaccurate and hopelessly inadequate to addressing our country's pressing fiscal challenges," Ryan said. "What we heard today was not fiscal leadership from our commander in chief. What we heard today was a political broadside from our campaigner in chief." Obama's plan relied on some of the same deficit-reduction measures proposed in December by a bipartisan fiscal commission he appointed. The president is scheduled to meet Thursday at the White House with the co-chairmen of the commission, Democrat Erskine Bowles and Republican Alan Simpson.
[Associated
Press;
Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
News | Sports | Business | Rural Review | Teaching & Learning | Home and Family | Tourism | Obituaries
Community |
Perspectives
|
Law & Courts |
Leisure Time
|
Spiritual Life |
Health & Fitness |
Teen Scene
Calendar
|
Letters to the Editor