Romney unveiled a blueprint to overhaul entitlement programs popular with seniors, saying he would gradually raise the retirement age for Medicare and Social Security. Under his plan, future retirees would have the option of staying on traditional Medicare or purchasing health insurance from private companies through ‘premium supports,’ or vouchers. Romney also said he would turn responsibility for Medicaid, the government health care program for the poor, over to state governments, and cut about $100 billion in Medicaid spending. He also would cap federal spending at 20 percent of gross domestic product by the end of his first term. To do so, he would cut about $500 billion in annual spending and lower non-defense discretionary spending to 2008 levels.
Paul Ryan’s response to another go at vouchers for Medicare: “This is a great development!” For once, I agree with the guy. This is a great development, if you’re working to re-elect President Obama.