TARP Bailout Czar Tells Greedy Seniors To Suck It Up And Take One For The Team

1 comment July 26th, 2010at 07:03pm Posted by Eli

He also explains that a “me-first” mentality is a good thing in the corporate world, but not so much when it’s selfish old people trying to get by on a fixed income:

Our belief in free markets is founded on the idea that each individual acting in his or her self-interest will lead to a superior outcome for the whole. The financial crisis has reminded us that free markets are not perfect — but they do allocate capital better than any other system we know. A “me first” mentality usually makes markets more efficient.

But this “me first” mentality can also lead to shortsighted political decision making….

Cutting entitlement spending requires us to think beyond what is in our own immediate self-interest. But it also runs against our sense of fairness: We have, after all, paid for entitlements for earlier generations. Is it now fair to cut my benefits? No, it isn’t. But if we don’t focus on our collective good, all of us will suffer.

(…)

I believe three steps are necessary for our country to embrace any meaningful proposal to cut entitlements:

— Our economy needs to experience sustained growth, creating good jobs, so Americans feel economically secure. It is hard for anyone to think about long-term sacrifice when they are worried about how to pay their bills today.

— The emotional bruising inflicted by the financial crisis needs to heal. Along with the passage of time we need a renewed sense that people are succeeding and failing on their own merits.

Our leaders need to make the case for cutting entitlement spending by tapping into our shared beliefs of sacrifice and self-reliance. They must be willing to risk their own political fortunes for the sake of our country.

And if someone hasn’t made enough money to live off their savings and has to depend on Social Security, what then?  What kind of “self-reliance” does Kashkari have in mind for them other than “work until you die”?  What a complete and utter heartless Gordon Gekko bastard.

Entry Filed under: Economy,Politics,Social Security,Wankers

1 Comment

  • 1. Anonymous  |  July 26th, 2010 at 7:57 pm

    I could see this speech appearing in a Dickens novel, in the mouth of a heartless bastard of a character. And with Dickens’ dry wit with names, the guy would still be called “Cash-Carry.”


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