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Reagan hints at exempting Social Security COLA from benefits cuts
President Reagan signaled he might exempt next year’s Social Security cost of living adjustments from his pledge not to cut retirement and disability benefits. He said he would resist cuts unless Congress sends a bill for signature and noted he would not tax or slash Pentagon spending to close deficits. He stressed defense spending is externally dictated and defended his deficit-reduction aims without tax increases.
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Walter F. Mondale