What's Happening In Your World
America is already the hardest working country in the western world, but for Wall Street fat cat Lloyd Blankfein, that’s not enough. Blankfein, currently CEO of Goldman Sachs, told CBS News’ Scott Pelley that he believes it’s time to increase the retirement age: BLANKFEIN: You’re going to have to undoubtedly do something to lower people’s expectations — the entitlements and what people think that they’re going to get, because it’s not going to — they’re not going to get it. PELLEY: Social Security, Medicare, Medicaid? BLANKFEIN: You can look at history of these things, and Social Security wasn’t devised to be a system that supported you for a 30-year retirement after a 25-year career. … So there will be things that, you know, the retirement age has to be changed, maybe some of the benefits have to be affected, maybe some of the inflation adjustments have to be revised. But in general, entitlements have to be slowed down and contained. PELLEY: Because we can’t afford them going forward? BLANKFEIN: Because we can’t afford them. Problem is, we wouldn’t be in a position to consider budget cuts at all if Goldman Sachs and the rest of the scoundrels on Wall St. hadn’t blew up the economy and then demanded a bailout. So in terms of who we can and cannot afford, it’s safe to say that this country can’t afford Wall St. Regrettably, no one on Wall St. has been prosecuted for this country’s economic meltdown, so it is likely that we will continue to see them creating disastrous recessions, then, getting invitations from mainstream news outlets to tell the rest of us what we’re doing wrong. It’s not surprising that Blankfein believes he’s right. That’s his ego, not data, speaking. What is repugnant is that CBS, or anyone else, invites him to speak on anything.  

Goldman Sachs CEO Thinks Americans Don’t Work Enough

America is already the hardest working country in the western world, but for Wall Street fat cat Lloyd Blankfein, that’s not enough. Blankfein, currently CEO of Goldman Sachs, told CBS News’ Scott Pelley that he believes it’s time to increase the retirement age:

BLANKFEIN: You’re going to have to undoubtedly do something to lower people’s expectations — the entitlements and what people think that they’re going to get, because it’s not going to — they’re not going to get it.

PELLEY: Social Security, Medicare, Medicaid?

BLANKFEIN: You can look at history of these things, and Social Security wasn’t devised to be a system that supported you for a 30-year retirement after a 25-year career. … So there will be things that, you know, the retirement age has to be changed, maybe some of the benefits have to be affected, maybe some of the inflation adjustments have to be revised. But in general, entitlements have to be slowed down and contained.

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2 comments

  1. It is amazing as to how they find people like this that makes million of dollars a year to voice an opinion. I bet if he was picking up trash at a construction site for $9 an hour, he wouldn't have such a stupid opinion. The media needs to start soliciting opinions from real people, with real jobs. These million and billionaires have so much money, they don't worry about poverty in their lifetimes. There opinion don't matter to me.

  2. If this is so, How come he doesn't pay the proportionate amount into social security.. along with the rest of his $18 million dollar brethren. And also, how is a CEO of a "bailed out" wall street entity going to talk about fiscal responsibility? that's like a crack head being in charge of a health class/organization.

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