From a fiscal and economic point he is right.
The problem will be getting the public to see the same thing. Can it be done? Yes. But you will have to overcome the coming hyperbole from the Democrats
That was equally the case back in 1995, when Bill Clinton and the Democrats and the media used the same issue as a club to hand Newt Gingrich a big defeat (the first of several that year, as I recall).
The challenge is to convince the general public that we are indeed "hosed" if such entitlements are not addressed. Doing that, requires serious discussion of options and goals between the president and Congress, and between the two parties in Congress; and responsible and detailed reporting of those discussions and options in the media.
Instead, what we have now is a mess: a president who appears not to be dealing with Congress (that may or may not be true); a president and media who are at war with each other; and a Democrat party that is at war with the president.
The question is: how can an issue like Medicare reform be addressed without changing the current political environment, and how can that be done?