Social Security's $56 Billion Dollar Impact on Florida Every Year
Good morning, Welcome to Radioactivity. I'm Rob Lorei. Coming up on the first part of today's program we'll talk about the proposals in Washington DC to cut Social Security. The New York Times reported this week:"Budget talks between the White House and Senate Republicans have gone nowhere since Congress began its summer recess, increasing chances of a fiscal stalemate that could lead to a government shutdown in October or the threat of a government default later in the fall.
Negotiators who had hoped for a summer breakthrough say the chances for a major deficit reduction deal are rapidly slipping away. While many members of both parties say they would like to avoid either a shuttering of the government as of Oct. 1 or a default caused by failing to increase the federal debt limit, no acceptable solution has emerged. Lawmakers say the consequences could be severe."
Virginia Congressman Eric Cantor had this to say about how Social Security fits in to the debate over the national debt on FOX News this month:
We're joined now by Dan Adcock the director of the lobbying and policy development unit of the national Committee to Preserve Social Security and Medicare and works side by side with Congress on Social Security and Medicare issues. His group recently released a report on the economic impact of Social Security on Floridacomments powered by Disqus