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House Minority Leader Nancy Pelosi of Calif., gestures during a news conference Thursday on Capitol Hill in Washington to caution the deficit reduction supercommittee about not using retirement benefits to fix the nation’s debt problems.

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Deficit-cutting panel looking at benefits, taxes

Rival deficit-cutting plans advanced by Republicans and Democrats on Congress’ secretive supercommittee would both mean smaller-than-expected cost of living benefit increases for veterans and federal retirees as well as Social Security recipients and bump up taxes for some individuals and families, according to officials familiar with the recommendations.

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