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End medicare as we know it. it is a powerful accusation. >> well, what the president has proposed is to allow medicare to go bankrupt. that's what the trustees to medicare say. we know that medicare and medicaid and social security, programs that have been of great benefit to our parents and grandparents are morphing into ponzi schemes for our grandchildren. i will set up artificial numbers and then i'm going to have rationing on steroids and price control on steroids. when it comes to medicaid there is not a proposal. for social security he does not even acknowledge the problem and under curr...

This fight right now. he's no longer on the side lines. >> no, not anymore. i think as we go through the 2012 campaign, we may look back at this speech as the first speech of the 2012 campaign. i don't know about you, but what i heard the president, he seemed almost emotional in a way that i hadn't heard him before, particularly over the issue of medicare. just listen to what he said and then listen to what the house budget chairman paul ryan said in response. >> i will not allow medicare to become a voucher program but leave seniors at the mercy of the insurance industry, with a shrimping ben...

Rationing is what will help our seniors. >> let me be precise. the president at the end of the speech was also addressing the liber liberals, progressives of his own democratic party and saying you know what, you guys -- i think he was talking directly to you and some of your colleagues. you guys have to grow up as well and you have to deal with medicare, medicaid and these entitlements. otherwise the country will go broke. >> 100% correc it is inning watch the schizophrenia of the republican party. they criticized democrats for trying to get efficiencies in medicare and adding ten years to it...

That was excessively partisan, dramatically inaccurate, and hopelessly inadequate to addressing the pressing fiscal challenges. what we heard today was not fiscal leadership. >> reporter: demand is just on sharp on taxes where the president vowed to raise taxes on the rich even though he avoided that chance in december when he extended the bush tax rates. >> they want to give people like me a $200,000 tax cut that's paid for by asking 33 seniors each to pay $6 thousand more in health costs. that's not right. that's not going to happen as long as i'm president. >> reporter: they feel here insid...

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