President Barack Obama, on Monday said the healthcare system is “a ticking bomb” which could send the U.S. government down the same road as that of General Motors and go broke if the healthcare system is not reformed.

Obama went before the American Medical Association in Chicago to declare anew that the existing system leaves too many uninsured and forces excessive defensive medicine by doctors worried about malpractice suits.

The president emphasized before the 250,000 group audience of doctors that he does not favor socialized medicine.

Obama also said the nation must explore ways to reduce the number of unnecessary medical tests or procedures that sometimes are conducted to stave off possible malpractice lawsuits.