If I made it up, why do you have a post mentioning the same number? Originally you said that there was no issue at all. Check some more and you will find that those were Obama's very words. Of course, the real problem is that Medicare is bankrupt so there really was no money anyway. I myself took Obama's statement at the time to mean that he wanted to ration healthcare for seniors.
The $700 Billion Medicare Myth
Medicare has been front and center in the media and on the campaign trails this week. As part of our Medicare Truth Squad efforts to debunk myths and claims about the Medicare program, today we focus our attention on a pervasive myth that keeps going around.
Some policymakers, candidates, and members of the media have been touting the claim that the Affordable Care Act (ACA) cuts $700 billion from Medicare. You may have even started receiving robo-calls that repeat this point. These claims are simply untrue.