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Money quote: On the United States, Zoellick said it wasn’t fears the world’s biggest economy faced an imminent problem, but “frankly that markets are used to the United States playing a key role in the economic system and leadership.”
He said efforts to cut U.S. government spending have so far been focused on discretionary spending as opposed to the entitlement program such as social security. “Until they make an effort on those programs, there is going to be continued skepticism about dealing with long-term spending.”
Captain Hindsight to the rescue.
Of course, we have to cut entitlements. Haven’t they already been paid into? Oh yea that money was stolen and spent… OOOPS.