Mitt Romney, Paul Ryan Medicare Plans 'Close to Identical'

Republican presidential candidate compares his plan to President Obama's.
3:00 | 08/16/12

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Transcript for Mitt Romney, Paul Ryan Medicare Plans 'Close to Identical'
Actually Paul Ryan my plan for Medicare I think it's the same if not identical it's probably close to of identical. Our plan is very simple which is that for people 55 years of age and older. There's no change. The only change -- mentioned. -- -- restored the 817. Billion dollars President Obama took out of the Medicare trust fund. -- restore it to Medicare. I did the president's decision to take 817 billion out of Medicare. To pay for Obama care is say an outrage that seniors are gonna find unacceptable. 55 and younger. That's a group that we would give people more options than exist currently. And by the way for higher income people they get less financial support and Medicare that lower income people again that's only for people who -- 55 and under. The other seven added sixteen billion is what the president takes out of the Medicare trust fund. To help pay for Obama -- I'd I think the seniors will be outraged to learn. Of that money they put in to Medicare is going to be siphoned off -- to pay for -- -- risky federal takeover of health care. I think the seven. Billion dollars that our seniors have paid for should stay with -- -- Should be restored to the Medicare trust fund one to make its solvency last longer and two to make sure that we don't in any way impinge upon. Our seniors to see the doctor of their choice and get that -- to get the care they -- The president also it is it is -- puts in place an elected board of bureaucrats. That is given the power to cut Medicare even further without a -- of congress look at these these changes the president is making a Medicare. Are changing Medicare as we know -- and I think the seniors in this country deserved understand that the president who said he defend Medicare has done just the opposite. I've had the same position on Medicare from the very beginning. Well actually Paul Ryan is on my ticket and we have the same plan together. The real difference between. Folks has betrayed Paul -- of my plan and that -- the president. The president's plan cutting Medicare for current beneficiaries. By 716. Billion Paul Ryan and I restoring that 700. And putting it in place a plan down the road that the gives people greater choice and provides better benefits to lower income folks. Then to higher income folks. Well -- I'm not sure which critics you're referring to but I can't say -- Paul Ryan and joining my presidential. Is on board with my policy. That we speak with exactly the same policy today he and I have exactly the same policy the place that there's a big difference. It's between myself and Paul Ryan and and the president the president has a very different plan. By the way. -- -- of course individuals are gonna have some differences even among those in the same party. But nothing compares like the difference we have with President Obama. Who's taking 7-Eleven sixteen billion out of Medicare. Well right now we have something known as Medicare Advantage. And I think very -- People -- you know are using Medicare Advantage it allows people. In the Medicare population. To choose a private plan as a -- to traditional fee for service government Medicare. That's a system regarding haven't place when Paul liner by a plan would do is for people 55 -- younger expand that program. So they have the option to take advantage of that kind of -- private sector plan or a governmental plan that would be their choice. That's very different than changing Medicare for -- -- retirees for people 55 and older that's what the president does by putting in place this unelected board. And by taking over seven -- a billion dollars for the Medicare trust fund. Now I think I think you'll see that the people in Wisconsin are pretty happy that someone of the character and integrity. And intellectual leadership and capacity to work across the aisle that Paul Ryan has shown over his career. Could well become the vice president of the United States I've I've seen nothing but to support from people in Wisconsin by the way that is homecoming rally. Over 101000 people cheering him on I think we're gonna win Wisconsin in part because of Paul Ryan's reputation.

This transcript has been automatically generated and may not be 100% accurate.

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