Latest Obama ad says Romney welfare plan raises costs for seniors

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The commercial then brightens as clips of President Obama and active seniors roll across the screen.

"Under President Obama, a seventy-five-percent increase in health-care fraud prosecutions, lowering seniors’ Medicare premiums and out-of-pocket costs, and eliminating a-hundred-and-fifty-six-billion in wasteful Medicare subsidies to private insurance companies," the narrator says.

"The choice in this election for seniors and middle-class families is clear: we can either continue to move forward with an economy that’s grounded in a strong middle-class, or we can go back to the same top-down economic policies of the last decade that crashed our economy and punished the middle-class," the Obama campaign said in a statement.

During a campaign stop earlier Thursday in Sarasota, Romney chided Obama over $716 billion in administrative cuts to Medicare that happened as part of the president's Affordable Health Care Act.

I will save Medicare and protect it for our seniors for today and our seniors for tomorrow," Romney said, noting that the cut amounted to $1.6 billion in Sarasota County alone.

"We're going to put that $716 billion back in the Medicare, back into our system, back into the care of our seniors," Romney said.

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