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Saturday, September 10, 2011

postheadericon Perryâs Ponzi scheme debacle

In last night’s debate, Rick Perry doubled down on his rant against Social Security.

He called it a “monstrous lie,” reiterating his characterization of it as a Ponzi scheme. Perry has also continuously referred to Social Security as “a failure.”

Here is the basic problem Perry has: For 70 years, Social Security has been one of the most popular and productive programs to help senior citizens. Republicans and Democrats have supported it. In the 1980s, along with Ronald Reagan, Congress made changes to strengthen it. Now, few argue that changes are not needed once again to strengthen it â€" but not to privatize it or let states opt out. (On Nov. 4, 2010, Gov. Perry, citing three Texas counties, told CNN that states should decide whether to be a part of Social Security.)

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