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Social Security is running out of money. Here’s how to fix it.

It’s going to be painful. But the longer Washington waits, the more it will cost.

In 1983, President Ronald Reagan and House Speaker Thomas P. "Tip" O'Neill's Democrats agreed on Social Security changes that helped keep the system solvent. Now its trustees say the nation is in danger of spending down its reserves, forcing possible benefit cuts
In 1983, President Ronald Reagan and House Speaker Thomas P. "Tip" O'Neill's Democrats agreed on Social Security changes that helped keep the system solvent. Now its trustees say the nation is in danger of spending down its reserves, forcing possible benefit cutsRead moreScott Stewart/AP