GALBRAITH: Here's Why We Should LOWER The Retirement Age

[xchrom]

http://www.businessinsider.com/interview-with-james-galbraith-on-lowering-the-retirement-age-and-the-fiscal-cliff-2012-11

?maxX=327&maxY=245

Last night, Goldman Sachs CEO Lloyd Blankfein came out of the CEO meeting with President Obama and said that the President's plan to avert the fiscal cliff was "very credible."

It's still not clear what mix of spending cuts and tax hikes Obama is focusing on, but we do know that Blankfein, like many other CEOs, thinks that an increase in the retirement age is something that we should be shooting for as a way to alleviate the perceived entitlement crisis.

This is actually common conventional wisdom (we're living longer, we have a debt problem, so let's modestly increase the retirement age), but there are some holdouts who disagree.

Economist James K. Galbraith of the University of Texas made the argument in early 2011 that if anything, we should be talking about lowering the retirement age.


Read more: http://www.businessinsider.com/interview-with-james-galbraith-on-lowering-the-retirement-age-and-the-fiscal-cliff-2012-11#ixzz2DhgvJmNf

[HiPointDem]

1. if blankfein says it's credible, it sucks. be afraid.

[xchrom]

2. +1

[Agony]

3. I'd like a transcript of that meeting btw Blankfein and the President

I think I will call and ask.

[peacebird]

9. +1

[Raster]

4. Blankfein = Satan in a $1,000 suit.

RUN, Toto, RUN!

[JHB]

6. Oh please! $1000 suits are for their junior assistants

B and S surely have ties that cost more than a thousand!

[Raster]

7. point taken, however, vernacular used for illustration...

Blankfein = Satan in a high-dollar suit. It's NOT THE SUIT that's the key piece here.

And who knows, maybe today Satan wore his leisure suit.

[fasttense]

5. What a smug little piggy Blankfein is.

I hope Obama doesn't think we who voted for him approve of piggy's greedy little ideas.

The piggy just wants our $2 Trillion Social Security savings to line his pockets.

[tsuki]

8. Ah, the transparent Presidency. nt

[PETRUS]

10. K&R