Obama: Healthcare law gave Medicare 'sounder financial footing'

[babylonsister]

And here I've been told Obama wants to disband Medicare. Go figure.


Obama: Healthcare law gave Medicare 'sounder financial footing'
By Shane D'Aprile - 08/07/10 06:00 AM ET


President Obama used his weekly radio address Saturday to tout the findings of a Medicare Trustees report that concluded the program will remain solvent through 2029, largely as a result of cost-cutting provisions included in the recently enacted healthcare law.

The president said the report clearly demonstrated that the passage of healthcare reform has put Medicare on "a sounder financial footing."

"Reform has actually added at least a dozen years to the solvency of Medicare – the single longest extension in history – while helping to preserve Medicare for generations to come," Obama said.

"We’ve made Medicare more solvent by going after waste, fraud, and abuse – not by changing seniors’ guaranteed benefits," the president said. "In fact, seniors are starting to see that because of health reform, their benefits are getting better all the time."

The president also touted a $250 rebate meant to aid senior citizens who fall into the so-called "doughnut hole" in Medicare prescription drug coverage. He noted that by next year seniors who fall into that coverage gap will be eligible for a 50 percent discount on needed medication.

more...

http://thehill.com/homenews/administration/113139-obama-healthcare-reform-put-medicare-on-sounder-financial-footing

[midnight]

1. I thought medicare was run more efficiently and without

less waste than the private insurance entities?