President Obama Cut Medicare to Pay for Obamacare

Statement

By:  Mitt Romney
Date: Aug. 14, 2012
Location: Unknown

There's another promise he made. You know that every time you get a paycheck you see there's a deduction there. It's going to Medicare.

It's going into a trust account to make sure that when you retire, that there's a health program there that will care for you. One of the things the President did which I find extraordinary, something he never mentioned when he was running for office.

You see, when he ran for office, he said he'd protect Medicare. But did you know that he's taken $716 billion out of the Medicare trust fund. He's raided that trust fund. And you know what he did with it?

He's used it to pay for Obamacare, a risky, unproven federal government takeover of health care. And if I'm President of the United States, we're putting the $716 billion back.