BIDEN: You know, I heard that death panel argument from Sarah Palin. It seems every vice presidential debate I hear this kind of stuff about panels. But let’s talk about Medicare. What we did is, we saved $716 billion and put it back, applied it to Medicare. We cut the cost of Medicare. We stopped overpaying insurance companies, doctors and hospitals. The AMA supported what we did. AARP endorsed what we did. And it extends the life of Medicare to 2024. They want to wipe this all out.
It also gave more benefits. Any senior out there, ask yourself: Do you have more benefits today? You do. If you’re near the donut hole, you have $800 — $600 more to help your prescription drug costs. You get wellness visits without co-pays. They wipe all of this out, and Medicare goes — becomes insolvent in 2016, number one.