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Uploaded on Jun 22, 2011
Senator Hutchison has introduced her landmark Defend & Save Social Security Act. Her legislation addresses the problem of the impending bankruptcy of Social Security without raising taxes or cutting core benefits. Under current law, retirees' monthly benefits would be cut nearly one-fourth, beginning in 2036. Hutchison's plan would ensure Social Security's solvency by gradually increasing the retirement age (over 16 years) to 69 and instituting a modest one percent reduction in the annual cost-of-living adjustment.