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By Nigel Ogilvie, A crisis in the funding of Social Security draws nearer each day. And as we approach the elections, voters should pay close attention to the two dramatically different solutions being proposed. First, here is the problem. Each year Social Security costs almost twice as much as Medicare, defense spending or interest on the federal debt. If you plan to retire in the not-too-distant future or already rely on social security checks, unless Congress acts, Social Security benefits will have to be cut by at least 20% after 2034.
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