U.S. Social Security funding crisis sharpens as insolvency risk nears
As reported by Financial Times, the U.S. social security system is approaching a critical funding point as lawmakers weigh politically difficult changes to avoid automatic benefit cuts. The article says a bipartisan path remains possible, with proposals centred on higher revenue, lower payouts and changes to investment strategy. One option is to raise or remove the payroll tax cap, under which income above $184,500 is exempt from social security tax. Support for lifting the cap exists across party lines in...
