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Marc Goldwein: Lifting cap would address most of Social Security’s shortfall in coming decades
Marc Goldwein questions recent calculations about the impact of lifting the cap on Social Security funding.
He asserts that removing the cap would resolve most of Social Security’s shortfall over the next decade or two, but would only close 20-40% of the program’s long-term funding gap.
Goldwein has previously tracked government spending trends, noting that U.S. improper payments reached $186 billion last year, with federal borrowing climbing to $1.8 trillion. He has also cited data showing that both PCE and CPI inflation indexes recorded 3.8 percent inflation over the past year. The recent comments follow his ongoing analysis of fiscal and economic indicators.
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