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Will Medicare, Social Security have to change to survive?

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    Part 4 of vice presidential debate

  • Duration 11:08
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Move on their team to Medicare entitlements I think we've gone over this -- enough and by the way anybody -- -- -- -- I appreciate that chip.

Let's talk about Medicare entitlement -- Medicare and Social Security are going broke and taking a larger share of the budget in the process.

Will benefits for Americans under these programs have to change for the programs to survive -- -- absolutely.

Medicare -- -- you're going bankrupt these are indisputable facts.

Look when I look at these programs -- -- -- tragedies in our lives.

I think about what they've done for my own family.

My mom and I had my grandmother -- with us -- was facing alzheimer's Medicare was there for her just like it's there for my mom right now.

With the fourteenth.

After my dad died my mom and I got so -- survivor's benefits.

Help me pay for college -- helped her go back to college in her fifties.

Where she started a small business because -- new skill she got.

She paid all over taxes on the promise.

That these programs -- be there for her.

We will honor this promise and the best way to do it is report from my generation you see.

If you reform these programs for my generation people fifty form below.

You can geared in TV don't change for people in or near retirement which is precisely what Mitt Romney and -- proposed.

The court -- look what obamacare does.

Obama -- Takes 716 billion dollars from Medicare.

Has been on obamacare even their own chief actuary of Medicare.

Backs this up he says you can't spend the same dog twice you can't claim -- this money goes to Medicare and obamacare.

And then they put this new Obama care board in charge of cutting Medicare each and every year in ways that will lead to denied care for current seniors.

This board by the weights fifteen people the president supposed to appoint the next year.

And not one of them even has to have medical training and Social Security.

If we don't short -- -- When we want to be IOUs when the program goes bankrupt a 25% across the board benefit cut kicks in on current seniors in the middle of their retirement.

We're gonna stop that from happening.

They haven't put a credible solution on the table.

He'll tell you about vouchers he'll say all these things to try and scare people.

Here's what we're saying.

Give younger people when they become Medicare eligible.

Guaranteed coverage options that you can't be denied.

Including traditional Medicare -- your plan and then Medicare subsidize your premiums not as much for the wealthy people.

More coverage for middle income people and total -- -- pocket covered for the poor and the sick.

Choice and competition we would rather have fifteen million future seniors determine how their Medicare delivered of them.

Is that a fifteen bureaucrats deciding what if where when they get it as president.

-- to -- her -- death panel argument from Sarah Palin seems every vice president debate it is kind of stuff about panels.

But let's talk about Medicare.

What we did is we -- 716.

Billion dollars and put it back applies to Medicare we cut.

The cost of Medicare we stop overpaying.

Insurance companies -- doctors and hospitals the AMA -- what we did.

AARP endorsed what we did.

And in extend the life from Medicare to 20/20 four they want to -- this all out it also gave more benefits and -- senior out there ask yourself.

Do you have more benefits today you do if you're near the donut hole you have 80600.

Dollars more to help your prescription drug cost you get wellness visits about co -- -- wipe all of this out and Medicare -- becomes insolvent 2016.

Not a number one number two guaranteed benefit it's a voucher.

When they first proposed when the congressman had his first voucher program.

We CBO said it would cost 6400.

Dollars a year Martha Moore for every senior 55 -- below when they got there.

He -- that he yet he got it all the guys in congress and women in the Republican Party to vote for governor Romney knowing that said.

But I I would sign or -- there.

Do you believe.

The AMA me.

Our guys fought his whole life for this or somebody would actually put in motion a plan.

That -- cut six added 6400.

Dollars a year -- more.

To the cost of Medicare now and -- Trust me it's not gonna cost you anymore folks following -- -- -- on this and with regard to Social Security.

We will not we will not privatized if we had listened to Romney the governor Romney and the congressman during the bush years a -- And where all those seniors and being out their money had been in the market.

Their ideas are old and their ideas are bad and they eliminate the guarantee.

Of Medicare.

There's a problem.

They got caught with their hands in the cookie jar turning Medicare into a piggy bank for -- -- Their own actuary from the administration came to congress and said.

One out of six.

Hospitals and nursing homes are gonna go out of business as a result of this -- -- -- seven point four million seniors are projected to lose the current Medicare Advantage coverage they have.

That's a 3200 dollar benefit cut.

That's what we're seeing more people -- these are from your own more hardware in all of a lot more people signed up for Medicare Advantage after the changed what there's no nobody is -- vice president.

I don't know this is Travis well we are -- a lot of the rest to make.

But I think it will be better served if we don't keep interrupting each other.

Well we don't take all the formulas that we -- -- we're saying don't change benefits for people 55 above they already.

Organized rich Iran there probably -- let me ask you this and what those -- what are your specific plan for seniors who really can't afford to make up the difference.

In the value of what you call a premium support plan and others call about a 100% coverage for what what -- what closet.

So we're saying you know I don't let me just at a premium support payments by taking down the subsidies for wealthy people.

This a plan.

By the -- that 6400 dollar number it was -- and it's totally inaccurate now this is a plan that's bipartisan.

It's a plan I put together with a prominent Democrat senator Warner is not one Democrat -- plan not one Democrat he's our partner is a Democrat from Morgan and he said he doesn't know -- -- we should have been put together with the former Clinton budget director of this -- blouses.

This idea.

Came from the Clinton commission to save Medicare chaired by senator John -- here's the point Martha which was before I don't if we don't fix this problem pretty soon.

-- current seniors get -- here's the problem.

101000 people are retiring every single day in America today and they will for twenty years as a political pork that we.

Tested one thing if we ingested they just allow Medicare.

To bargain for the cost of drugs like Medicaid can't that would save a 156.

Billion dollars right off the bat and it would deny all -- all choices all.

It its interests are not -- -- actually are not -- look folks are all you seniors out there.

I have been denied choices have you lost Medicare bad because -- where we are right now started -- because president finally let me ask if it's if it's it could help solve the problem.

Why not very slow -- raise the Medicare eligibility age by two years as congressman Ryan suggest look.

I was there when we did that with Social Security in 1983 I was wanna -- people sit in the room.

That included Tip O'Neill negotiating with President Reagan.

We all got together and everybody said as long as everybody's of the deal.

Everybody's in the deal and everybody -- make some sacrifice we can find a way we made the system solvent to 2033.

We will not -- be part of any voucher plan eliminating the -- says mom.

We -- fifth when you're 65 go out there shop for the best insurance you get -- out of Medicare you come buyback and if you want but this voucher which will keep pace.

Well what keep pace with health care cost because -- -- did keep patient health care -- there would be no savings that's why they go the voucher they -- we will be no.

Part of a voucher program or the privatization.

Of Social Security.

The virus -- you go to your mailbox get a check and buy something nobody is proposing that it.

Barack Obama for years ago running for president said if you don't have any fresh ideas.

-- stale tactics to scare voters.

If you don't have a good record to run on -- your opponent as someone people should run from.

I big bailout you're on the ball you lawmakers to stand with President Bush when he was seeking to partially privatize -- -- for younger people what we said then.

So -- what I've always agreed.

He's like younger Americans have a voluntary choice.

Of making their money work faster for them -- -- security system -- so that's not what Romney's proposing what we're saying is.

No changes for anybody 55 went -- -- -- his proposed and that kind of changes were talking about for younger people like myself.

Is don't increase the benefits for wealthy people as fast as everybody else slowly raise the retirement age over time.

It wouldn't get -- -- -- -- -- -- when you're 2103.

According they actuaries appears quickly quickly vice president quickly.

The bottom line here is that all the studies show that if we went with Social Security proposal made by Mitt Romney if you're forty.

In your forties now you'll pay 2600 dollars a year more you get 2600 larger -- Social Security.

If you're in your twenties -- -- -- 4700 dollars or less the idea of changing and change being in this case.

To cut the benefits for people without taking other action you can do to make it work is absolutely the wrong way these look.

These guys have been big on Medicare from the beginning.

They're parties not when they got many apparently Danny and they've always been about Social Security as little as you can do look.

Folks use your common sense who do you trust on this a man who introduced a bill that would raise -- 406400.

Dollars a year.

Knowing that and passing and Romney saying you sign it.

Or me and the press.

That statistic was completely misleading but more importantly that's in there and facts -- what politicians do when they don't have a record -- tried to scare people from voting for you.

If you don't get ahead of this problem.

It's gonna attack Medicare beneficiaries of more many -- arrogant and we're gonna move -- -- Herrera a simple question to Medicare and sister did so much from my own family.

We are not going to jeopardize this program but we have to save it.

You -- jeopardizing the program you're changing a program from the guaranteed benefit.

Two treatments for a W called the bottom line is people are gonna have to pay more money out of their pockets.

And the -- I don't remember -- I come -- they don't have the money to pay more -- whenever things don't at a lower income people -- -- for higher income people.

I would like to move on to a very simple question for both of you and something tells me.

I won't get a very simple answer but let me ask you this game is simple answers raises the cost and it okay -- -- -- if your ticket.

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