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Romney proposes re-shaping of Medicare, big cuts elsewhere
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WASHINGTON (AP) — Mitt Romney is unveiling a plan that's supposed to fundamentally re-shape Medicare.
The Republican presidential candidate hasn't finalized many of the details, but he would offer future Medicare recipients what amounts to a voucher to spend on private insurance or a version of the traditional program.
The idea he presented to a gathering of conservative activists today in Washington is similar to a controversial proposal released by Republican Congressman Paul Ryan of Wisconsin earlier this year.
Romney has struggled to win tea party support. His plan is aimed partly at getting support from those who want to cut huge government programs.
Through cuts in Medicare and elsewhere, Romney says he would cut federal spending by $500 billion in his first term as president.
He'd remove federal subsidies of $1.6 billion from Amtrak, which could threaten the survival of the rail network. He'd force $600 million from the National Endowment for the Arts, the Endowment for the Humanities and the Corporation for Public Broadcasting.
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081-a-14-(Former Governor Mitt Romney, R-Mass, Republican presidential candidate, in remarks)-"to 20 percent"-Republican presidential candidate Mitt Romney says he would cut federal spending by 500 billion dollars in his first term in the White House. (4 Nov 2011)
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082-a-16-(Former Governor Mitt Romney, R-Mass, Republican presidential candidate, in remarks)-"sense at all"-Republican presidential candidate Mitt Romney says changes have to be made in federal spending on foreign aid. (4 Nov 2011)
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APPHOTO DCHG110: Republican presidential candidate, former Massachusetts Gov. Mitt Romney pockets his notes after speaking at the Defending the American Dream Summit, Friday, Nov. 4, 2011, in Washington. (AP Photo/Haraz N. Ghanbari) (4 Nov 2011)
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APPHOTO DCHG109: Republican presidential candidate, former Massachusetts Gov. Mitt Romney waves after speaking at the Defending the American Dream Summit, Friday, Nov. 4, 2011, in Washington. (AP Photo/Haraz N. Ghanbari) (4 Nov 2011)
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