1. 2012

    Rick Perry: Social Security a ‘Ponzi Scheme’

    Texas Gov. Rick Perry speaks during the 28th annual National Association of Latino Elected and Appointed Officials conference, Thursday, June 23, 2011, in San Antonio.  Perry is considering a run for president. But he received a tepid reception Thursday following speeches by Democratic Hispanic leaders. They denounced some of Perry's most prized policies as openly hostile to Hispanics. Among those issues is a requirement for tougher enforcement of immigration laws.

    Darren Abate / AP Photo

    Rick Perry’s spokesman recently told The Wall Street Journal that the candidate no longer necessarily believed attacks he made on Social Security in his book, Fed Up! However, Perry attacked Social Security as an “illegal Ponzi scheme” on the campaign trail in Iowa over the weekend. “It is a Ponzi scheme for these young people,” Perry said Saturday. “The idea that they're working and paying into Social Security today, that the current program is going to be there for them, is a lie.” The New York Times, meanwhile, points out that Perry’s embrace of states’ rights is a recent development of the past few years.

    Read it at Politico