President Obama argued “these programs aren’t in crisis” while discussing Medicare and Medicaid during his Weekly Address on Saturday. Transcript as Follows: “Hi, everybody. This week, there was a big birthday you might have missed. Medicare and Medicaid turned 50 years old. And that’s something worth celebrating. If one of the best measures of a country is how it treats its more vulnerable citizens — seniors, the poor, the sick — then America has a lot to be proud of. Think about it. Before Social Security, too many seniors lived in poverty. Before Medicare, only half had some form of health insurance. Before Medicaid, parents often had no help covering the cost of care for a child with a disability. But as Americans, we declared that our citizens deserve a basic measure of security and dignity. And today, the poverty rate for seniors is less than half of what it
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