Another Republican fabrication.
http://www.politifact.com/oregon/statements/2011/nov/14/rob-cornilles/another-look-favorite-republican-talking-point/
Excerpt: "There’s a small bit of truth here. The Affordable Care Act does reduce Medicare spending by $500 billion over the next 10 years. But here’s the catch: Those dollars aren’t taken out of the current budget, they are not actual cuts, and nowhere does the bill actually eliminate any current benefits."
It is such a shame that a party cannot actually make a good argument so it must repeatedly lie in order to make its case.