Obama says U.S. healthcare reform "cannot wait"

WASHINGTON (Reuters) - President Barack Obama on Monday formally launched a plan to cut U.S. healthcare costs with a coalition of groups that have pledged to lower the cost growth by some $2 trillion during the next decade.

"We can't continue down the same dangerous road we've been traveling for so many years," Obama said at a White House appearance with representatives of trade groups representing doctors, hospitals, drug manufacturers and others. "The costs are out of control. Reform is not a luxury that can be postponed but a necessity that cannot wait."

Obama has made healthcare reform a cornerstone of his political agenda and hailed the industry groups for coming together at what he called a crucial moment in the healthcare debate.