My old Mastercraft snowblower won't turn over?

My Mastercraft snowblower (must be at least 20 years old) suddenly lost the ability to start from the cord or the electric start. You pull the starter and hear the starter revolving inside but no action. It's an old pig and doesn't throw too far, but it's heavy duty and I would rather get it going than spend cash on a new much flimsier machine. Thanks

Tim
July 2011