An interview with Lloyd Blankfein is as rare as a look inside the Goldman
Sachs money machine. When we asked Blankfein how to reduce the federal
budget deficit, he went straight for the subject politicians don't want to
talk about.


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.

25 Years? What planet is he from?
Most people pay social security tax for 40+ years.

http://www.cbsnews.com/8301-18563_16...-be-contained/


Best Regards
Tom.
--
http://fija.org/