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That may just be why it won't cut/drill. CAREFULLY tighten those screws/bolts. It's a good idea to use a little "Locktite" on the cleaned threads. May I caution you, before using that tool on the blades, read this thread. http://www.iceshanty.com/ice_fishing/index.php?topic=309016.0
They used some cheap glue and every one this year has fallen apart. They are supposed to be in place.