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Would Rep. Ryan's Plan 'End Medicare As We Know It?'

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    Leo Hindery of Intermediate Partners on Rep. Ryan's plan for Medicare.

  • Duration 5:37
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This transcript is automatically generated

Thank you.

With Paul Ryan now mr.

Romney's VP nominee what all of the com.

Medicare we're joined now by Leo Hendry is a former CEO at AT&T broadband and with intermediate partners have been a supporter of Democrats over the years which makes the terrific guests today and before into the specifics of Medicare Mexican it is something that's rare -- question -- know the answer -- And if you know this but I know what -- -- sale right.

What surprised you more the pick of John McCain picking Sarah Palin 2008 or the pick of Mitt Romney picking Paul Ryan 2012.

You know I think it being in a very short period of time I'm more surprised by the Ryan pick I mentioned -- is we were walking into the show O'Connell that.

A congressman Ryan a very very able very bright guy is what we call a target rich environment.

Sell them in in in American history have we seen a candidate for the top of the federal offices.

Who is so specific -- so detailed in his views in his thinking.

And I and I I applaud him for that right but he has set up overnight a contrast between the Obama Biden ticket.

And now the Romney Ryan ticket that is stark.

And and I think in in listening to the congressman.

From Utah just a moment ago.

There's there's a big distinction -- more than settled between the economic recovery plan.

Governor Romney.

And the budget plan Paul Ryan governor Romney doesn't have actually a budget plan he's been very very unspecific.

Yet he's picked demand is is running mate -- isn't very specific Medicare so did today against comment about Medicare we're gonna talk very specifically in both the vice presidential debate.

And among the top candidates mr.

mr.

Scott President Obama governor Romney about social security and Medicare a buck -- which Ryan has said.

He would privatize Social Security instantly.

In a way that not even George Bush finds acceptable said so over the weekend reiterated over the weekend.

And he would redefine Medicare as we know it in Medicare is the distinct -- what.

He teamed up with senator Ron Wyden and they give that seniors the option of keeping Medicare as we know it today -- That they do they do but they funded in a wave that day again that is is materially.

Cut bat.

Cut back so you you would that there there's two ways to fix Medicare three ways actually eligibility.

And when when do you become eligible for Medicare.

The cost containment which we never seemed to focus on the the inordinate waste of cost in the system.

And then eligibility -- in in terms of what it returns for every -- -- -- the cost containment issue on its interest thing because if you let the government continue to control Medicare in the way that it is.

It's -- to the government than to.

Decide who gets what and how much if you put it in the hands of the individual at least give them the option to do that you put the control in the hands of the -- Mean that's the thank you but I believe about Ballard a back -- -- second about the Medicare -- the fact that we're having such a does that.

-- The Obama campaign mr.

Obama and Vice President Biden on the spot to say -- it needs to be fixed here's what we would do.

Well I think I needed I think it put some on the spot in in a productive sort of fashion I think the American people.

Instantly -- gonna see sharp contrasts.

We're we're not gonna talk about.

Sort of the past we're not gonna talk about how these deficits were generated whether they came from the war or otherwise -- an amalgam.

You you have because it as I said to -- you you have it -- cut and now a vice presidential candidate right the specificity of whom.

Rivals that of Lyndon Johnson only back in the sixties went when he stepped up with -- John Kennedy.

We we've not seen in and that's why the surprise about Palin vs vs Ryan for -- is so -- -- to the point that -- it's making what's wrong with -- thinks raising the retirement age and also giving people an option.

Not a requirement.

To have a different way to go with Medicare and also having the option to stay in the current system which is basically what he's proposing.

We we have to remember what so -- sorry Brian but that was social security and Medicare are supposed to target fish poster target.

The post retirement years of your life.

Right that this isn't obamacare this isn't the care that the three of us -- counter.

Today in our careers and in our lives this is the post retirement Europe.

And and they're supposed to be safety nets that did it these programs were conceived and described as safety nets and when you remove.

This specificity of the program and you move into these options.

You really put a grave risk.

I I can't figure out my options that year -- -- I have to sort of adjust might -- benefits packages can the American people as a whole.

Retain the safety net aspects but this is what could I think -- -- try to think this is what's gonna come out in the debate.

Is have fascinating debate because it raises the issue of the role of government and there -- what extent do you want it.

I again what a quick point I mean the complete with them congressman Ryan would like the discretionary part of spending to be no more.

Then 3% no more than 3% of GDP.

That is a crushing distinction.

From what we have tolerated it and then sought after for many years now.

And so again it's going to be very stark and that's why I'm more surprised both sides us into ultimately a thank you very much -- -- -- -- nice to see you both --

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