CHARLOTTE, N.C. (Sept. 6, 2012) — As President Obama took the stage to accept the Democratic Party’s nomination on the last day of the convention, he laid out his commitment to continue to fight for policies that give every Asian American and Pacific Islander, no matter their background, the opportunity to succeed.
The Romney-Ryan agenda is disastrous for American families, especially our Asian American and Pacific Islander families. Romney’s agenda makes our seniors pay more for Medicare and our children pay more for college in order to give millionaires an extra tax handout.
The Romney-Ryan agenda destroys traditional Medicare, turning it into a voucher program. Under the Republican plan, starting in 2023, upon retirement, over 3.2 million AAPI’s would receive a voucher to shop for health insurance, instead of receiving the guaranteed benefits provided by traditional Medicare. Seniors would be forced to pay about $6,000 more out of pocket for their health care needs. Over 100,000 seniors in the Asian American Pacific Islander community would immediately face higher prescription drug prices.
Cuts into education investments for our children would be damaging to the Asian American and Pacific Islander community and rob them of the opportunity of a bright future. The Romney-Ryan agenda would cut federal college aid for nearly 10 million Americans and slash programs that help our youngest children prepare for school. About 528,000 Asian American Pacific Islander students would see their Pell Grants cut in 2014.
President Obama is working to put AAPI’s and all Americans back to work in an economy built to last and to restore middle-class security. As of August 2012, the U.S. economy has experienced 29 consecutive months of private sector job growth and added almost 4.5 million private sector jobs. Through the Recovery Act and the Small Business Jobs Act, the Obama Administration provided over $7 billion to Asian American small business owners and enacted 18 tax cuts for small businesses.