Wednesday, September 14, 2011

Social Security and Charles Ponzi

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No doubt you have heard the uproar over Gov. Rick Perry’s assertion that Social Security operates much like a Ponzi scheme. Perry’s attempt to discuss the “third rail of American politics” once again thrusts the program’s solvency before the American electorate. True to form, rather than sparking honest debate, Perry’s comments elicited immediate scorn and mocking from liberal ideologues bent on preserving this longstanding entitlement program rather than dealing truthfully with its present predicament.