Rick Perry the Texas Governor running for President in the GOP, again claims social security is a Ponzi scheme. Well, Governor, you’re wrong. Here’s why.
Via CBS News:
In spite of warnings from his fellow Republicans that calling Social Security a “Ponzi scheme” would be polarizing in the presidential contest, presidential candidate and Texas Gov. Rick Perry on Wednesday stood by his remarks.
“You cannot keep the status quo in place and call it anything other than a Ponzi scheme,” Perry said at a Republican debate in California. Acknowledging that several have called his remarks controversial, he added, “Maybe it’s time to have some provocative language in this country.”
Perry called the popular federal program a Ponzi scheme in his 2010 book “Fed Up!” and his views have come under scrutiny since he entered the presidential race last month. Most recently, Republican strategist Karl Rove said Perry’s take on Social Security will prove “toxic” in the 2012 election. Former Vice President Dick Cheney also said recently it was inaccurate to call the program a Ponzi scheme.
Read: List of Ponzi schemes.
Image via Mother Jones.