I had multiple computers that were not able to connect to a network printer (or local printers, even a PDF printer) with an error.
Some computers inboxes in Outlook were even flickering!
When selecting to print the email, the following message would display:
“There is a problem with selected printer. You might need to reinstall this printer. Try again, or use a different printer.”
After some online research, turns out Microsoft pulled a Windows Update that was just released.
The link is available here:
http://support.microsoft.com/kb/2509470
I removed that, rebooted, and was good.
Hope this spares another person an hour to free up something else.
Cheers