Mitt Romney took a turn for the folksy in Iowa on Friday, telling an audience that, like many people, he didn't fully understand what Medicaid did until late in life.
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"You know, I have to admit, I didn't know the differences between all these things until I got into government," Romney said. "Then I got into it and I understood that Medicaid is the health care program for the poor, by and large."
It's a bit of an odd claim considering that Romney, while at Bain Capital, led a $311 million buyout of a huge hospital business that drew its income primarily from health care entitlements. From the January 25, 1989 New York Times: