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Yes cut it. Every dollar given out comes from somewhere.
Sources of money:
Somebody elses pocket
Barrowing from other countries (which must be paid with interest)
Printing Money (Devalues our currancy)

An increase in either of these destabilizes our economy. Making it more difficult for job creators to expand (hire more people) or even maintain the current work force.

We need to cut not just entitlement programs though. Defense needs to be cut back as well. We don't (and shouldn't be envolved in every event around the planet. I belive it was Theodore Roosevelt who said, "Tread lightly,but carry a big stick" We kind of trample everything right now.

Social security was ment to make sure people didn't run out of money in there later years, not to be a full fledge retirement program. Back when the program was created you didn't get benefits until age 65. Average life expectancy was 67. It was also predicated on an expanding population. Population growth by generations has been shrinking. The sooner changes are made the less painful it will be.