I believe one of the existing public-key algos has a critical weakness that was deliberately introduced. Is that correct?
If you understand Cryptography here is the paper.
https://weakdh.org/imperfect-forward-secrecy-ccs15.pdf
The Team has been well aware of the dangers of quantum for some time now (over a year for sure) and there are many in the world working on solutions. NSA used to recommend Suite B but from what I gather that may not be strong enough so they are recommending a wait approach for a new breed forthcoming.
This is a good read.
http://csrc.nist.gov/groups/SMA/ispab/documents/minutes/2015-06/ispab_june-11_quantum_lchen.pdf
Here's a good article on Q.C.
http://www.wired.com/2015/09/tricky-encryption-stump-quantum-computers/