The public has lost faith in the ability of Social Security and Medicare to provide for old age. They've lost faith in the banking system and in conventional medical insurance.
Sentiment: NEGATIVE
Retirees who are on Medicare will suffer the consequences of 700 billions of Medicare dollars instead being used to cover the skyrocketing cost of Obamacare. In essence, less dollars for seniors means less service. Not fair. The Boomers are going to take the 'hit.' In Obamacare, 'too old' has limitations of service.
I have a statement on the Social Security. A lot of people approaching that age have either already retired on pensions or have made irreversible plans to retire very soon... I consider it a breach of faith to renege on that promise. It is a rotten thing to do.
Before Medicare, nearly half of American seniors were forced to go without coverage because insurance companies were reluctant to insure them - making the chances of having health insurance as a senior the same as getting tails on a coin flip.
We're saying no changes for Medicare for people above the age of 55. And in order to keep the promise to current seniors who've already retired and organized their lives around this program, you have to reform it for the next generation.
There's a loss of faith in the banking system that for so long has been the backbone of prosperity and growth.
If we didn't have Social Security, our seniors would live mostly in poverty. You'd have another 18 million people in poverty.
But here's what I would tell people of my generation. I turn 40 this year. There isn't going to be a Social Security. There isn't going to be a Medicare when you retire. Forget about what your benefit is going to look like. There isn't going to be one if we don't make some reforms to save that program now.
And because of these programs like Medicare, Medicare prescription drugs, Social Security, we now have the healthiest and wealthiest group of senior citizens that the world has ever seen. This is a continuing commitment to that.
When one gets old and they are sick, there are not many things they can count on but they should be able to count on Social Security. Our seniors' retirement should never rely on the bull of political promises or the bear of the market.
It's critical - that the people that are benefiting today from Medicare and Social Security that they not see benefit reductions. It's awfully hard to tell someone who might be 82, that they've gotta go back to work, because their benefits are gonna be chopped. That's not gonna happen.