Paulson: ‘Now Is the Time for Action on Debt Ceiling, Deficit’

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Multi-millionaire, Henry Paulson is calling for massive tax increases and deep Medicare and Social security cuts to make sure the interest keeps getting paid to banksters on treasury securities:

Mr. Paulson issued the following statement after the breakfast:

“Now is the time for action on both raising the debt ceiling and tackling the U.S. debt and deficits through significant and lasting spending reduction, entitlement reform and tax reform. Our growing debt is the single largest threat to our nation’s future.

Real reform that puts us on a sustainable fiscal path is critical to U.S. economic competitiveness. This is not an easy task, and will involve tough decisions on all sides. I am confident that this administration and Congressional leaders in both parties are working in good faith toward a solution.

And the sense of urgency is clear – failing to raise the debt ceiling would do irreparable harm to our credit standing, would undermine our ability to lead on global economic issues and would damage our economy.”

Americans to Work 10 Years Longer to Pay Debt: Former Bush Advisor

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A former advisor to the Bush administration has told CNBC every American will have to work 10 years longer than they thought to pay off the US debt mountain.

"Yes it is a serious problem but the US can easily fix it by having everybody work 10 years longer which they'll do anyway,” she said.

She [Philippa Malmgren] basically wants Americans to work 10 years longer to pay off debt. If you take a look at her clients list it becomes obvious why she wants this.

She needs punched in the face, work 10 more years basically means work till you die. To many people do that now anyways.

reply to post by lokdog

You shouldn't hit women.

Originally posted by Rockdisjoint
reply to post by lokdog

 

You shouldn't hit women.

Scum are scum. Punch her by all means.

Second line.

Originally posted by Rockdisjoint
reply to post by lokdog

 

You shouldn't hit women.

Based on the massive set of cajones she's freely swinging around by suggesting Americans should "work 10 years longer" to pay down the debt her DC cronies jacked up to the moon, I openly question "her" real gender.

That is one of the most arrogant, flatly offensive suggestions to come out during this farce. Maybe if the average politician would do one honest day's work in their careers we wouldn't need to ask the average citizen to work an extra 10 years to cover debts accumulated without citizen's interests or approval.