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Thursday, February 21, 2013
The last time we made significant changes to Social Security -- including adjustments to benefits -- was the 1983 Social Security amendments. At the time, Social Security had less than a year's worth of solvency, and a bipartisan agreement to put Social Security on sound financial footing was essential. That legislation, negotiated by President Reagan and Democratic House Speaker Tip O'Neill, focused on what was needed protect Social Security for the long term. Reagan understood that Social Security is a separately funded program unrelated to problems in the rest of the budget, and he clearly stated that: "Social Security has nothing to do with the deficit." Advertisement
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