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The Problems with Social Security

5:45 AM ET Wed, 3 Oct 2012

Both presidential candidates have been pressed for details on how to control Federal spending. Social Security is one entitlement that politicians are afraid to touch. But ignoring the issue of solvency for the government's largest entitlement program won't solve the growing problem of ballooning costs, as more workers retire and fewer Americans cover their benefits. In this CNBC animation, reporter Steve Liesman explains the overall problem facing Social Security.