Each weekday morning the Washington Journal highlights specific taxes, deductions, and budgetary programs that will be impacted if the country goes off the so-called “fiscal cliff.” Wednesday, we look at Social Security.
Associated Press Reporter Stephen Ohlemacher discussed how Congressional leaders plan to handle Social Security as part of “fiscal” cliff talks. While the chief issue in the talks centers on the Cost of Living Adjustment (COLA), other issues such as the funding of social security and its solvency will be discussed.
Then, AARP Consumer Affairs and Financial Security Director Cristina Martin Firvida and Heritage Foundation Senior Research Fellow David John talked about Social Security’s role in the “fiscal cliff” discussions, including possible changes to cost of living adjustments (COLA), the program’s solvency, and Republican and Democratic proposals for the program.