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Robbie,
'Enough cuts' to pay our obligations without borrowing a penny in August would create catastrophic problems.
The larger the entity the slower it changes direction. Making significant changes is absolutely necessary.
Those changes would take years to phase into effect without severly damaging the economy.
There is a huge difference between saying you have to be 78 years old to collect social security starting in 2015 versus saying you have to be 78 to collect starting next Wednesday and if you have already been collecting but are not yet 78 you will no longer be sent a check.
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