Obama: Healthcare reform a 'necessity'

WASHINGTON, June 6 (UPI) -- President Barack Obama said U.S. healthcare reform is not "a luxury we hope to achieve" but a "necessity we cannot postpone any longer."

In his weekly address, released Saturday by the White House while Obama was in France to observe the 65th anniversary of D-Day, Obama said escalating healthcare costs "make our current course unsustainable."

"Simply put, the status quo is broken," he said. "We cannot continue this way. If we do nothing, everyone's healthcare will be put in jeopardy."

Obama said at the current rate of healthcare cost increases, Americans will spend 20 percent of their income on healthcare within 10 years "and we'll keep getting less for our money."

"That's why fixing what's wrong with our healthcare system is no longer a luxury we hope to achieve," he said, "it's a necessity we cannot postpone any longer."

The president said a solution to the rising costs of healthcare requires attacking "root causes," which he said include "unwarranted profiteering."

"This week I conveyed to Congress my belief that any healthcare reform must be built around fundamental reforms that lower costs, improve quality and coverage and also protect consumer choice," Obama said.

He said he "made it very clear to Congress that we must develop a plan that doesn't add to our budget deficit" and reminded his audience that his budget included funds to be used as a "down payment on reform, and we'll work with Congress to fully cover the costs through rigorous spending reductions and appropriate additional revenues."