Incorrect. The saving in Ryan's plan of $716 B is used to shore up the Medicare Trust Fund. The $716 B Obama raided from Medicare is going to fund 1/3 of Obamacare. HUGE difference. And moot. If Romney is elected, Obamacare is not implemented and the cuts never happen anyway..
And what good is a benefit if no one will provide it? The "waste and inefficiencies" is reduced payments to providers. Didn't you read the article? CBO estimates that 30% of providers will refuse to take Medicare patients. So you have a huge increase in Medicare patients (the baby boomer bulge) entering the market with a dramatically reduced amount of providers willing to provide "benefits". What in the world do you think is going to happen????