(Joshua Roberts/BLOOMBERG) 
 
 House Budget Committee Chairman Paul Ryan, who has been castigated by Democrats and hailed by Republicans for his plan to privatize Medicare, will on Thursday unveil a new approach that would preserve the 46-year-old federal health program. The concept, which is backed by Democratic Sen. Ron Wyden of Oregon, steps back from the House budget chairman's previous plan to end the traditional fee-for-service Medicare program for future retirees and replace it with subsidies starting at $8,000 that seniors would use to purchase private health plans. Seniors would still receive a set amount of money from the government to buy insurance, as they would under the Medicare proposal Ryan included in the budget blueprint that passed the House last year. In recent days, Republican presidential candidate Mitt Romney has embraced the Ryan privatization plan, and GOP front-runner Newt Gingrich has offered qualified support. Democrats, meanwhile, have been gearing up to challenge the GOP across the board on the issue, accusing Republicans of pushing to “end the Medicare guarantee.” 
 
 Ryan and Wyden said in an interview Tuesday that they joined forces in hopes of lifting the Medicare debate above the divisive political rhetoric and forging a genuine compromise that could save the program along with the government’s solvency. “We want to demonstrate that there is an emerging consensus developing on how to preserve Medicare. We want to move that consensus forward,” Ryan told the Washington Post. Ryan and Wyden, a longtime advocate for seniors, plan to release their proposal at a breakfast Thursday morning hosted by the Bipartisan Policy Center, one of many players in the year-long debate over the national debt. The center formed its own debt-reduction committee, chaired by former senator Pete Domenici (R-N.M.) and former Clinton budget director Alice Rivlin, who has also worked with Ryan on his premium support approach to Medicare. Although the change is a significant departure from Ryan’s earlier proposal, Wyden’s involvement could also muddy Democrats’ campaign message of preserving Medicare against the threat of privatization.
– Paul Ryan looks to be backing off his controversial plan to scrap Medicare entirely—the one Newt Gingrich famously derided as "right-wing social engineering," reports the Hill. Instead, the GOP congressman and Democratic Sen. Ron Wyden will unveil a new strategy tomorrow that would allow the program to remain but force it to compete against private plans. Seniors would have the choice of which route to take. But even if it manages to get through, the proposal would not take effect until 2022 or affect any seniors currently in the program, notes the Wall Street Journal. “We want to demonstrate that there is an emerging consensus developing on how to preserve Medicare," Ryan tells the Washington Post. "This program’s got to be reformed to be saved. The country's at stake." The shift will complicate Democratic plans to go after Republicans as Medicare-killers in the upcoming election, notes the Hill.