Obama vs. Ryan: Budget Cuts, Taxes, Medicare

President has opposed Paul Ryan's budget proposal, key topic in race with Romney.
3:00 | 08/13/12

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Transcript for Obama vs. Ryan: Budget Cuts, Taxes, Medicare
a place that has seen more of its rough and tumble politics lately. Thank you, jon karl. Abc's jake tapper tells us there's a history here, right, jake? That's right, diane. No small way mitt romney has selected as his running mate president obama's ideal nemesis. He has never personally squabbled with mitt romney, but he sure has with paul ryan. Reporter: President obama's real feelings about hissiological foe paul ryan were caught by a microphone last year. The president sneered at ryan claiming the mantel of fiscal 1307b9. This is the same guy who voted for two wars that weren't paid for. Voted for the bush tax cuts. Voted for the prescription drug bill that cost as much as my health care bill that wasn't paid for. Reporter: The public back and forth hasn't nicer. The president has pushed. It's a trojan horse. They want a government takeover of health care. They have tried to sell us this trickle-down fairy dust before. Reporter: Ryan was a leading opponent of obama's health care bill. Or as he called it -- it's a bill full of gimmicks and smoke and mirrors. Reporter: And the president's budget as social darwinism -- for those who can least afford it and don't have any clout on capitol hill. Reporter: Ryan has proposed slowing the growth of medicare and providing fright tyrees with something like a voucher. To pay nor private health insurance. Independent analysts say limited vouchers would mean seniors would have to pay thousands more out of their own pocket. The romney campaign insists these changes would not impact today's seniors or those close to retirement and that such changes are needed for it to survive. Get ready for democrats to hit hard, especially in states with large senior populations such as florida, pennsylvania and ohio, all pivotal battleground states. Jake tapper, abc news, the white house. I want to bring in george stephanopoulos, great to see you, george, what are you watching tonight? Well, here's the next big thing mitt romney got to fix. He got a big jolt from paul ryan over the weekend. From the abc news/"washington post" poll, it shows romneys unfavorability rating. 49% right now much higher than a year ago 2011. And that number went up up. They've got to bring that down. The convention is the next big place for that to happen. But the romney team says they can win even if he's not well liked if they can convince people he's got a credible plan to fix the economy. And what do you see as the next move from the white house. What are they saying behind the closed-doors? What they want is four straight months of job growth. If the debate is about big government, versus small government, the presidentloses. If it's about the specifics of the ryan plan, the cuts, the specific cuts he's making, they believe the president will win. Do they think this was a smart move by romney? It surprised all of them. The president was telling people at fund-raisers, he expected mitt romney to go with tim pawlenty. They suspect it's a bold move. That's "your voice your

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

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