14) ?What I support is no change for current retirees and near-retirees to Medicare.? Here is how Romney?s Medicare plan will affect current seniors: 1) by repealing Obamacare, the 16 million seniors receiving preventive benefits without deductibles or co-pays and are saving $3.9 billion on prescription drugs will see a cost increase, 2) ?premium support? will increase premiums for existing beneficiaries as private insurers lure healthier seniors out of the traditional Medicare program, 3) Romney/Ryan would also lower Medicaid spending significantly beginning next year, shifting federal spending to states and beneficiaries, and increasing costs for the 9 million Medicare recipients who are dependent on Medicaid.
15) ?Number two is for people coming along that are young, what I do to make sure that we can keep Medicare in place for them is to allow them either to choose the current Medicare program or a private plan. Their choice. They get to choose ? and they?ll have at least two plans that will be entirely at no cost to them.? The Medicare program changes for everyone, even people who choose to remain in the traditional fee-for-service. Rather than relying on a guaranteed benefit, all beneficiaries will receive a premium support credit of $7,500 on average in 2023 to purchase coverage in traditional Medicare or private insurance. But that amount will only grow at a rate of GDP plus 1.5 percentage points and will not keep up with health care costs. So while the federal government will spend less on the program, seniors will pay more in premiums.
16) ?And, by the way the idea came not even from Paul Ryan or ? or Senator Wyden, who?s the co-author of the bill with ? with Paul Ryan in the Senate, but also it came from Bill ? Bill Clinton?s chief of staff.? Romney has rejected the Ryan/Wyden approach ? which does not cap the growth of the ?premium support? subsidy. Bill Clinton and his commission also voted down these changes to the Medicare program.
17) ?Well, I would repeal and replace it. We?re not going to get rid of all regulation. You have to have regulation. And there are some parts of Dodd-Frank that make all the sense in the world.? Romney has previously called for full repeal of Dodd-Frank, a law whose specific purpose is to regulate banks. MF Global?s use of customer funds to pay for its own trading losses is just one bit of proof that the financial industry isn?t responsible enough to protect consumers without regulation.
18) ?But I wouldn?t designate five banks as too big to fail and give them a blank check. That?s one of the unintended consequences of Dodd-Frank? We need to get rid of that provision because it?s killing regional and small banks. They?re getting hurt.? The law merely says that the biggest, systemically risky banks need to abide by more stringent regulations. If those banks fail, they will be unwound by a new process in the Dodd-Frank law that protects taxpayers from having to pony up for a bailout.
19) ?And, unfortunately, when ? when ? when you look at Obamacare, the Congressional Budget Office has said it will cost $2,500 a year more than traditional insurance. So it?s adding to cost.? Obamacare will actually provide millions of families with tax credits to make health care more affordable.
20) ?[I]t puts in place an unelected board that?s going to tell people ultimately what kind of treatments they can have. I don?t like that idea.? The Board, or IPAB is tasked with making binding recommendations to Congress for lowering health care spending, should Medicare costs exceed a target growth rate. Congress can accept the savings proposal or implement its own ideas through a super majority. The panel?s plan will modify payments to providers but it cannot ?include any recommendation to ration health care, raise revenues or Medicare beneficiary premiums?increase Medicare beneficiary cost-sharing (including deductibles, coinsurance, and co- payments), or otherwise restrict benefits or modify eligibility criteria? (Section 3403 of the ACA). Relying on health care experts rather than politicians to control health care costs has previously attracted bipartisan support and even Ryan himself proposed two IPAB-like structures in a 2009 health plan.
21) ?Right now, the CBO says up to 20 million people will lose their insurance as Obamacare goes into effect next year. And likewise, a study by McKinsey and Company of American businesses said 30 percent of them are anticipating dropping people from coverage.? The Affordable Care Act would actually expand health care coverage to 30 million Americans, despite Romney fear mongering. According to CBO director Douglas Elmendorf, 3 million or less people would leave employer-sponsored health insurance coverage as a result of the law.
22) ?I like the way we did it [health care] in Massachusetts?What were some differences? We didn?t raise taxes.? Romney raised fees, but he can claim that he didn?t increase taxes because the federal government funded almost half of his reforms.
23) ?It?s why Republicans said, do not do this, and the Republicans had ? had the plan. They put a plan out. They put out a plan, a bipartisan plan. It was swept aside.? The Affordable Care Act incorporates many Republican ideas including the individual mandate, state-based health care exchanges, high-risk insurance pools, and modified provisions that allow insurers to sell policies in multiple states. Republicans never offered a united bipartisan alternative.
24) ?Preexisting conditions are covered under my plan.? Only people who are continuously insured would not be discriminated against because they suffer from pre-existing conditions. This protection would not be extended to people who are currently uninsured.
25) ?In one year, you provided $90 billion in breaks to the green energy world. Now, I like green energy as well, but that?s about 50 years? worth of what oil and gas receives.? The $90 billion was given out over several years and included loans, loan guarantees and grants through the American Recovery Act. $23 billion of the $90 billion ?went toward ?clean coal,? energy-efficiency upgrades, updating the electricity grid and environmental clean-up, largely for old nuclear weapons sites.?
26) ?I think about half of [the green firms Obama invested in], of the ones have been invested in have gone out of business. A number of them happened to be owned by people who were contributors to your campaigns.? As of late last year, only ?three out of the 26 recipients of 1705 loan guarantees have filed for bankruptcy, with losses estimated at just over $600 million.?
27) ?If the president?s reelected you?ll see dramatic cuts to our military.? Romney is referring to the sequester, which his running mate Paul Ryan supported. Obama opposes the military cuts and has asked Congress to formulate a balanced approach that would avoid the trigger. (
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