Mar 7, 2014
CEO’s Demand Austerity to Fix Budget, Not End to Corporate Welfare
Posted on Nov 26, 2012
A group of corporate CEOs that contributed to the burgeoning deficit crisis want the poor and elderly to largely pay for the mess the greedy Wall Street fat cats helped create. The executives working with the Fix the Debt campaign—among them Goldman Sachs’ Lloyd Blankfein and Honeywell’s David Cote—are asking for cuts to entitlement programs such as Medicare, Medicaid and Social Security to reduce the deficit. They claim this route will shave off $4 trillion from it.
“Yet the CEOs are not offering to forgo federal money or pay a higher tax rate on their personal income or corporate profits,” write The Huffington Post’s Christina Wilkie and Ryan Grim. “Instead, council recommendations include cutting ‘entitlement’ programs, as well as what they call ‘low-priority spending.’ ”
In other words, they want the deficit fixed, as long as they don’t have to pay for it themselves or give up their “corporate welfare.” Just another day in the life of a bankster.
—Posted by Tracy Bloom.
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