If the cheerleaders including the one in the Oval Office are right, computerized medical records will save us all: save jobs, save money, reduce errors, and transform health care as we know it. In a January speech, President Obama evoked the promise of new technology: This will cut waste, eliminate red tape and reduce the need to repeat expensive medical tests,” he said, and he has proposed investing $50 billion over the next five years to help make it happen.