Romney Campaign Press Release - President Obama's Failed Record On Medicare

"Mitt Romney has a plan to preserve Medicare for today's seniors while strengthening it for future generations. In contrast, President Obama will end Medicare as we know it — he takes hundreds of billions of dollars from Medicare to spend on Obamacare and will leave seniors with fewer choices. He has offered no serious plan of his own to save Medicare and is content to use it as nothing more than a political issue." —Lanhee Chen, Romney Campaign Policy Director

President Obama Has Raided Seniors' Medicare by $500 Billion To Pay For Obamacare:

President Obama "Will Reduce Medicare Outlays By $507 Billion." "In February 2011, CBO estimated that the permanent reductions in the annual updates to Medicare's payment rates for most services in the fee-for-service sector (other than physicians' services) and the new mechanism for setting payment rates in the Medicare Advantage program will reduce Medicare outlays by $507 billion during the 2012—2021 period." (Douglas W. Elmendorf, "CBO's Analysis of the Major Health Care Legislation Enacted in March 2010," Congressional Budget Office, 3/30/11)

Under Obamacare, Enrollment In Medicare Advantage Is Projected To Decline By 50% And Choices Will Decline By Two-Thirds. "Nationwide, compared to what would have been the case under prior law, by 2017, when the changes are fully phased-in, enrollment is projected to be 50 percent lower [7.4 million], the average would-be beneficiary will lose $3,700 in benefits (accounting for both those who remain in MA and those who leave), and the number of choices available in the average county will be reduced by about two-thirds." (Robert A. Book and Michael Ramlet, "What Changes Will Health Reform Bring To Medicare Advantage Plan Benefits And Enrollment," Medical Industry Institute: Carlson School of Management, 10/11)

While President Obama Has Done Nothing To Strengthen The Program, Medicare Is Heading For Insolvency In Little More Than A Decade:

In April, Medicare Trustees Warned That The Program Is Expected To Enter Insolvency In 2024. "The nation's Social Security and Medicare programs are sliding closer to insolvency, the federal government warned Monday in a new report underscoring the fiscal challenges facing the two mammoth retirement programs as baby boomers begin to retire. Medicare, which is expected to provide health insurance to more than 50 million elderly and disabled Americans this year, is expected to start operating in the red in its largest fund in 2024, according to the annual assessment by the trustees charged with overseeing the programs." (Noam N. Levey, "Trustees Warn Of Looming Insolvency For Social Security, Medicare," Los Angeles Times, 4/23/12)

Today Isn't The First Time President Obama Has Used Medicare To Launch Dishonest Attacks:

The Obama Campaign Has Previously Made False Claims About Governor Romney And Medicare. "The Obama campaign's 'Life of Julia' graphic says that under Romney, 'Medicare could end as we know it, leaving Julia with nothing but a voucher to buy insurance, which means $6,350 extra per year for a similar plan.'" (Becky Bowers, PolitiFact.com, 5/24/12)

PolitiFact Noted The Obama Campaign "Ignores Critical Facts" And Attempted To Tie Romney To "An Outdated Plan." "The Obama campaign ties Romney to an outdated plan with less generous spending growth and no traditional Medicare option. Romney does support a voucher-like system, but the graphic ignores critical facts that would give a different impression about his plan." (Becky Bowers, PolitiFact.com, 5/24/12)

PolitiFact: "Mostly False." (Becky Bowers, PolitiFact.com, 5/24/12)