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Social secuirty checks to go direct deposit only

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Wednesday, April 27, 2011 - 4:43pm

The U.S. Treasury is checking out of the paper payment business for social security, it's direct deposit only for recipients.

Treasurer of the United States Rosie Rios wrote a check for a billion dollars today to the American taxpayers in Washington.

That symbolic move shows how much the government will save over the next ten years when paper checks are phased out.

Those who get paper checks now will have to receive benefits electronically by May of 2013.

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