Obama: I have strengthened Medicare

President Obama fought back against Republican criticism over Medicare today, saying he has improved the program by eliminating wasteful spending.

"Here's what you need to know -- I have strengthened Medicare," Obama told supporters in Dubuque, Iowa, on the third and final day of his bus tour of the state.

The president shot back at criticism from Republican opponent Mitt Romney and his running mate Paul Ryan, who note that Obama's 2010 health care overhaul cut more than $700 billion from the insurance program for the elderly.

The changes will not hurt current Medicare recipients, Obama told the crowd. The cuts are aimed at health care providers, such as hospitals and medical device manufacturers, as well as waste and inefficiencies.

Said Obama:

I have made reforms that have saved millions of seniors with Medicare hundreds of dollars on their prescription drugs. I have proposed reforms that will save Medicare money by getting rid of wasteful spending in the health care system -- reforms that will not touch your Medicare benefits -- not by a dime.

Romney and Ryan, meanwhile, want to convert Medicare into a voucher system that will reduce actual benefits, Obama said.

The GOP plan, which would not affect anyone 55 and up, is designed to provide a fixed federal payment for future seniors to buy insurance.

"They've been pretty dishonest about my campaign," Obama said of his GOP opponents. "They are just throwing everything against the wall to see what sticks."

Romney spokesman Ryan Williams said Obama is "the only person in the race who has actually cut Medicare," while the GOP candidate "will always protect this vital program for seniors and strengthen it for future generations."

Obama is completing a sentimental journey of Iowa, speaking during his bus tour about how his win in the 2008 Democratic caucuses there launched his successful presidential bid.

Now Obama hopes another win in Iowa will keep him in the White House for another four years.

"I've come here to ask you to stand with me -- just like you stood with me in 2008 -- to finish what we started," the president said in Dubuque.