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Monday, September 12, 2011

Social Security is Not a Ponzi Scheme. IT'S WORSE!

Ponzi schemes are voluntary. Social Security is NOT!

Texas Governor Rick Perry is taking a lot of heat for standing by his view that Social Security is a Ponzi scheme when everyone who is honest about the issue knows he is telling the truth and then some.

An excellent article by Stanley Kurtz in National Review recounts some of the history of the use of the phrase "Ponzi Scheme" to describe Social Security. What's amazing is that both liberals and conservatives have used that phrase repeatedly going back to at least 1967.

Now, all of a sudden Governor Perry expresses the same idea and many of these folks leap up in outrage to condemn him? Can we say "hypocrisy?"Is there any chance we Americans will be able to honestly address issues of such huge importance as Social Security when political demagoguery and hypocrisy rule the day? I doubt it!

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