“Republican presidential candidate Mitt Romney on Thursday applauded a new bipartisan plan to overhaul Medicare.
Republican Rep. Paul Ryan of Wisconsin and Democratic Sen. Ron Wyden of Oregon put forth the proposal that would provide seniors a subsidy called “premium support” that would give them the option to receive traditional Medicare- a government-run health insurance -or the option to buy private insurance. The plan would go into effect in 2022 and the Medicare eligibility age would remain at 65.
The White House slammed the plan today saying it would “end Medicare as we know it for millions of seniors.”
Romney called the Wyden-Ryan plan “good news,” and said it was a “big day for our kids and grandkids” because the plan could deal with the country’s mounting debt, which has the “potential of crushing our future generations.” – Tolleah Price, Copyright 2011 CBS Interactive Inc