Many community colleges have programs designed to help GED recipients transition directly into associate degree programs. They might even offer bridging courses to address any gaps in prerequisite knowledge. Someone could complete the GED and then immediately begin coursework for their Associate's. The time overlap could be significant, making it feel like they're earned at the same time.
So the answer is no in terms of simultaneous diplomas, but yes in terms of concurrently pursuing and completing both within a relatively short timeframe.