Please correct any grammar issues in the following text:
On the other hand, critics of this notion have argued that with reduced government spending, less educated old folks and those who did not saved enough would be at a severe disadvantage as compared to the rest of the population.
On the other hand, critics of this notion have argued that with reduced government spending, less educated old folks and those who did not save enough would be at a severe disadvantage as compared to the rest of the population.