Medicare is already in a death spiral.
Via Politico:
Obama campaign strategist David Axelrod pummeled Mitt Romney and Rep. Paul Ryan (R-Wis.) on Tuesday, saying their plan would send Medicare into a “death spiral.”
He also responded to GOP accusations that President Obama cut $700 billion from the program.
“The changes that the President made in the Affordable Care Act, taking subsidies away from insurance companies within the Medicare system, helped us lengthen the life, the viability, financial viability, of Medicare by almost a decade. They would repeal that and Medicare would be bankrupt by 2016,” Axelrod said on CNN. “So right away, there are concerns for seniors about what they would do. But in the long-term, what they would do is turn Medicare into a voucher program. They would cap that voucher so that over time, more and more of the burden would be shifted to seniors who would be left to contend on the private insurance market or choose a very weakened Medicare alternative.