President Barack Obama and Congressional Republicans agree Medicare costs must be curbed, but they disagree on how to do so, according to a report by Newser.
These differences will come to the fore as both sides continue their high-level negotiations to reduce the federal deficit, including Medicare, the largest single bill payer in the $2.5 trillion U.S. healthcare system.
While Democrats say the GOP would leave Medicare beneficiaries at the mercy of profit-driven insurance companies, Republicans say Democrats would empower unaccountable bureaucrats to ration care.
"We're at a point where we really need to get a solution," said Rep. Dave Camp (R-Mich.), who as chairman of the Ways and Means Committee is the top House Republican on Medicare. "In other times when we've had this debate, we haven't had the debt crisis."
Agreeing to a compromise would not be easy. "They are both saying Medicare has to be on a budget," said economist Eugene Steuerle of the Urban Institute. "But each of them is also saying it has to be my type of system on a budget, and not your type of system."
Read the Newser report on Medicare.
Related coverage on reining in Medicare:
With Medicare Off the Table, Medicaid is Chief Target for Cuts
Independent Payment Advisory Board: 6 Things to Know
President Calls GOP Plans for Medicare, Medicaid 'Radical'