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Wednesday, April 21, 2010

Government to End Social Security Checks

The announcement came just days before the 40th anniversary of Earth Day on Thursday. And although the move is expected to save paper, it is also expected to save the government more than $300 million over the first five years and $125 million each following year. It costs about $1 to cut and mail a check but only 10 cents for a direct deposit. Each year, the Treasury issues more than $135 million benefit payments via paper checks.