Obama Vows Social Security, Medicare Reform

Will hold summit to hash out ways to rein in spending

By Kevin Spak, Newser Staff

Posted Jan 16, 2009 8:05 AM CST

(Newser) – Barack Obama promised major overhauls for the country’s ever-growing entitlement programs yesterday in a wide-ranging interview with the Washington Post. We have “kicked this can down the road,” Obama said. “We are now at the end of the road.” Obama will hold a “fiscal responsibility summit” next month to discuss those and other reforms before he delivers his first budget.

Obama said entitlement reform is vital to the broader economic turnaround efforts. “Social Security we can solve,” he said, waving his hand. “The big problem is Medicare,” which can’t be solved without broader healthcare reform. Obama also promised immediate engagement in the Middle East, and said he’d consider it a failure if he can’t close Guantanamo Bay, or beat job loss forecasts. He also promised a new, more transparent financial regulatory system.

[Images (4)]

[Quotes (3)]

Barack Obama talks with the Washington Post editorial board Thursday, Jan. 15, 2009 at the Post's offices in Washington. (AP Photo/Pool, Bill O'Leary)

This mixed media collage by Shepard Fairey titled "Barack Obama" will be on view at the Portrait Gallery by Inauguration Day. (AP Photo )

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What we have done is kicked this can down the road.
We are now at the end
of the road. - Barack Obama

If we're losing half a million jobs a month, then there are no jobs to unionize. - Barack Obama, on his tepid support for a bill making it easier to form unions

You have to have a president who is willing to spend some political capital on this.
And I intend to spend some. - Barack Obama, on entitlement reform

« Prev« Prev | Next »Next » Slideshow

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Obama Vows Social Security, Medicare Reform