Mitt Romney Spanish-Language Ad Repeats Claim Obama 'Cut $716 From Medicare'

The Mitt Romney campaign released a Spanish-language television ad on Wednesday hitting the president on supposed cuts to Medicare, the latest in its effort to reach out to Latinos by focusing on the economy.

This ad is particularly targeted at seniors and claims President Barack Obama cut $716 billion from Medicare to pay for his signature health care bill. But the law doesn't technically cut money from the program's budget -- instead, it aims to bring down costs by cutting reimbursements to insurance companies and hospitals.

The budget authored by GOP vice presidential nominee Rep. Paul Ryan (R-Wis.), meanwhile, would also use spending reductions and involves a repeal of Obamacare that would actually increase costs for seniors.

"For years, we have paid into Medicare with our work," a voiceover in the ad says in Spanish, as translated by the campaign. "Now, when we need it, Obama has cut $716 billion from Medicare. The money we have paid to guarantee our healthcare will be used for a new program that's not for us."

"Romney's plan protects Medicare benefits for today’s seniors and strengthens it for future generations," the ad concludes.

Republicans have argued that Latinos will respond to their economic argument, citing the disproportionate impact the economy has had on them. But so far, it doesn't seem to be working. Polls put Romney far behind Obama with Latino voters, and a majority agree with Obama that the Ryan plan would "end Medicare as we know it," according to a NBC News/Wall Street Journal Survey/Telemundo survey of 300 Latino registered voters completed August 16 through August 20.