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Deficit may climb by $500 billion due to higher Medicare costs, Marc Goldwein notes

Deficit may climb by $500 billion due to higher Medicare costs, Marc Goldwein notes
Deficit may rise as Medicare costs increase

Marc Goldwein said that a proposed measure would likely add about $500 billion to the deficit over a decade.

He added that while Medicare costs would increase by a larger amount, costs for ACA, Medicaid, and employer-sponsored insurance would decline.

Goldwein has previously described a proposal to eliminate the tax max and raise annual benefits by $2,400, outlining the plan in detail in an earlier article. He has also said that setting limits on the charitable deduction could generate $100 billion in additional revenue without reducing giving, citing data from the Tax Policy Center in a separate piece. Both comments add context to his ongoing analysis of fiscal policy proposals.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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