New Romney Ad: Obama Cut Medicare to Pay for Obamacare

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3:00 PM, Aug 14, 2012 • By MICHAEL WARREN

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A new ad from the Romney campaign takes the Democrats' Medicare attacks on Paul Ryan head on. Watch the video below:

"You paid into Medicare for years," the voiceover says. "Every paycheck. Now when you need it, Obama has cut $716 billion from Medicare. Why? To pay for Obamacare. So now the money you paid for your guaranteed health care is going to a massive new government program that's not for you."

The campaign plans a large buy with this ad in important swing state media markets.