Republican presidential candidate Mitt Romney made the following statement Thursday following the Supreme Court's decision to uphold the constitutionality of the Obama administration's health care law.

"As you might imagine, I disagree with the Supreme Court's decision and I agree with the dissent. What the court did not do on its last day in session, I will do on my first day if elected president of the United States. And that is I will act to repeal ObamaCare.

Let's make clear that we understand what the court did and did not do. What the court did today was say that ObamaCare does not violate the Constitution. What they did not do was say that ObamaCare is good law or that it's good policy. ObamaCare was bad policy yesterday. It's bad policy today. ObamaCare was bad law yesterday. It's bad law today.

Let me tell you why I say that. ObamaCare raises taxes on the American people by approximately $500 billion. ObamaCare cuts Medicare -- cuts Medicare by approximately $500 billion. And even with those cuts and tax increases, ObamaCare adds trillions to our deficits and to our national debt, and pushes those obligations on to coming generations. ObamaCare also means that for up to 20 million Americans, they will lose the insurance they currently have, the insurance that they like and they want to keep...