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Balancing the Budget

Carson, Cruz and Kasich have each proposed an amendment to the Constitution that would force Congress to balance the federal budget each year. Kasich has made the issue a major focus of his economic plan, citing his success balancing the budget in Ohio. He’s said that he would be just as successful with the federal budget, promising to balance it in eight years.

Medicare and Social Security

When it comes to programs like Social Security and Medicare, most of the candidates are in favor of gradual reforms, but have also promised to keep the system the way it is for current seniors. Both Bush and Paul support a gradual increase in the retirement age for Social Security. In a plan released Tuesday, Bush said he hopes to increase the retirement age one month each year starting in 2020. Both Bush and Christie are also in favor of reducing Social Security payouts to the wealthiest Americans. Christie is hoping to phase out Social Security payments for retirees earning $200,000 a year.

Kasich has often come under fire for his support of Medicare; he expanded coverage for low-income Ohioans as governor. Some of the GOP field wants to move toward privatizing Medicare, instead of expanding it, and some of the candidates aren't fans of the program at all. Carson faced criticism this week after he told Politico he'd like to do away with Medicare. He later said he was misunderstood, claiming he meant that once there was a private option, Medicare wouldn't be necessary.

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