Obama launches Medicare attack, bypassing unemployment news

President Obama resumed his attack Sunday on the Romney-Ryan plan to save Medicare, this time referring to a study that he said shows skyrocketing costs for future recipients and further distancing himself from the dismal unemployment report released last week.

The attack marks the second straight day that the president has gone after the GOP plan, after the August unemployment report released Friday showed the U.S. unemployment rate dropped but only because more Americans quit their job search.

“Your costs would rise by the thousands and the insurance companies’ profits would rise by the billions,” Obama told roughly 3,000 people Sunday at a rally at the Florida Institute of Technology, in Melbourne, Fla.

Obama also said the plan by GOP presidential nominee Mitt Romney and running mate Rep. Paul Ryan would increase insurance profits by $16 billion to $20 billion and that he would not follow their plan to turn Medicare into a voucher system.



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