The Social Security Administration announced it will impose stronger identity verification procedures, while the Pentagon plans to cut its civilian workforce.

Public confidence in the economy has been rattled by news out of the White House, most recently noises about cuts to Social Security and Medicaid.

Democrats and Independents have warned that cuts to the Social Security Administration's budget are a step toward privatizing Social Security, which experts say could help solve the program's decreasing funding but would be a difficult transition.