Ron Paul Campaign Press Release - Ron Paul's Plan Preserves Seniors' Benefits, Mitt Romney's Cuts Medicare

LAKE JACKSON, Texas — See below for statement from campaign of 2012 Republican Presidential candidate Ron Paul.

From National Campaign Chairman Jesse Benton:

"Ron Paul's 'Restore America Plan', which some have called the boldest plan to reduce the federal deficit, proposes $1 trillion in federal spending in the first year, and it balances the federal budget in year three of a Paul Presidency.

"The plan cuts spending by ending the costly unconstitutional foreign wars, and cuts foreign welfare, corporate welfare, and overgrown federal bureaucracy.

"These cuts are made so that those who are dependent on domestic spending programs such as Medicare aren't endangered through a sudden change in benefits.

"Mitt Romney's economic plan makes only nominal cuts yet it manages to cut spending from Medicare benefits, the same benefits on which many elderly Americans have come to rely.

"That's a shame because not only are the cuts disingenuous but the protections seniors are counting on are absent from a proposal that Mitt Romney regards as 'bold' and fair.

"Ron Paul's ambitious plan also cuts taxes, authorizes a comprehensive audit of the Federal Reserve, and reins in dangerous government intervention by curtailing runaway spending and regulatory overreaches.

"Today's government-imposed economic weakness demands action. Ron Paul is the only candidate with the experience and plan to get Americans back to work and create lasting prosperity."