Did anyone get a 6 percent (nominal) wage increase last year? Congratulations on your "skyrocketing" paycheck.
This is the term that the Post applies to Social Security expenditures, which have risen at an average rate of 5.2 percent in the last five years and are projected to rise at a 5.5 percent rate over the next five year (both in nominal dollars). This leaves Social Security expenditures virtually unchanged as a share of GDP over this period.
Social Security expenditures are projected to rise more rapidly in the future, but they clearly are not "skyrocketing" at present. A little greater commitment to reality on this topic would be useful.
If you enjoyed this article, please consider making a tax-deductible donation today. For over 30 years, The American Prospect has delivered independent reporting that exposes corporate power, investigates political corruption, and analyzes threats to our democracy. Unlike many media outlets, we’re not owned by billionaires or corporations—we’re powered by readers like you.
Today’s independent journalism faces unprecedented challenges. Your support makes our reporting possible and keeps our work free and accessible to all. Whether it’s $5 or $50, every contribution helps sustain our nonprofit newsroom.
Join our community of supporters and make a donation today to help keep independent journalism thriving.
Copyright 2025 | The American Prospect, Inc. | All Rights Reserved
