Paul Ryan's claim that ObamaCare kills Medicare as we know it

On Paul Ryan's claim that "Obama-care kills Medicare as we know it. Obama-care raids $500 billion from Medicare to spend on Obama-care, puts in place a 15-panel board to ration Medicare by unelected bureaucrats. Our budget, repeals the raiding, gets rid of the rationing board, preserves this program, makes no changes for a person 55 years of age or older and saves Medicare":

James Kwak http://baselinescenario.com/2011/05/29/health-care-rationing-for-beginners/ : "Ordinarily this wouldn&rsquo;t be worth responding to, except to point out, as Sam Stein did, that Ryan&rsquo;s proposed budget also &rdquo;raids $500 billion from Medicare,&rdquo; so the statement that &ldquo;we stop the raiding&rdquo; is, um, a lie. But it isn't news that Paul Ryan has an issue with honesty, except perhaps for David Brooks."