Obama Admits He'll Cut $700 Billion Out Of Medicare

Barack Obama admitted in 2009 that he would cut Medicare by $700 billion to pay for Obamacare.

TAPPER: “One of the concerns about health care and how you pay for it — one third of the funding comes from cuts to Medicare.”

BARACK OBAMA: “Right.”

TAPPER: “A lot of times, as you know, what happens in Congress is somebody will do something bold and then Congress, close to election season, will undo it.”

OBAMA: “Right.”

TAPPER: “You saw that with the ‘doc fix’.”

OBAMA: “Right.”

TAPPER: “Are you willing to pledge that whatever cuts in Medicare are being made to fund health insurance, one third of it, that you will veto anything that tries to undo that?”

OBAMA: “Yes. I actually have said that it is important for us to make sure this thing is deficit neutral, without tricks. I said I wouldn’t sign a bill that didn’t meet that criteria.”