Video: Joe Biden Talks Medicare in Blacksburg

by: lowkell

Wed Aug 15, 2012 at 16:59:22 PM EDT

See the "flip" for a transcript

"They make massive changes in Medicare. Turning it into a voucher system--this is mentioned. That means seniors would no longer have guaranteed Medicare. ­They get a voucher, they get a voucher to buy private insurance coverage. And you know how confusing it is to begin with."

[Laughter]

"No I'm not being facetious. They get a voucher. And because the voucher would not keep up with rising health costs, seniors would be forced to pay, based on studies, an extra $6,400 under the Ryan-Romney plan."

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"We see an America where Social Security is protected, where Medicare is available to distressed people. And where Medicare fulfills its original mission. That¹s why we¹ve strengthened Medicare, to extend its life by eight years, made reforms that have saved millions of seniors, hundreds of dollars on their prescription drugs. That¹s why we¹ve proposed reforms that save Medicare money by getting rid of wasteful spending on health care systems without cutting a single penny in Medicare benefits."