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Social security and medicare

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What do economists mean when they say Social Security and Medicare are "pay-as-you-go" plans? What are the Social Security and Medicare trust funds, and how long will they have money left in them? What is the key long-run problem of both Social Security and Medicare? What are some of the unpleasant options to restore long -run balance to both Social Security and Medicare?

Reference no: EM131298654

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