13 years, 7 months ago

Rick Perry Backs Off Social Security 'Ponzi Scheme' Comments

WASHINGTON -- Texas governor and Republican presidential candidate Rick Perry recently walked back his claims that Social Security is a "Ponzi scheme," but other Republicans have made similar statements in recent months, saying the entitlement program is a "scheme" to take money from the American people. He also wrote that Social Security is "set up like an illegal Ponzi scheme." Democratic sources are passing around statements made by Reps. Jeb Hensarling, Reid Ribble, Todd Young, and Joe Heck, all of which refer to Social Security as a Ponzi scheme. "Social Security, as so many of you know, is a Ponzi scheme," Young said at an event.

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