Rick Perry says Social Security is a "Ponzi scheme" and a "monstrous lie" (Perry speaks the truth)

cbs ^ | 8/29/2011 | Corbett B. Daly

[tobyhill]

Republican presidential candidate Rick Perry continued his attack on Social Security over the weekend, calling it a "Ponzi scheme" and a "monstrous lie" to younger Americans who should not expect to get back their contributions upon retirement.

"It is a Ponzi scheme for these young people. 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," Perry said, according to the Houston Chronicle.

"It is a monstrous lie on this generation, and we can't do that to them," Perry told a crowd a The Vine Coffeehouse in Ottumwa, Iowa.

[comebacknewt]

I agree with Perry's point 100%, but this was a tactical mistake.

You don't make Social Security a campaign issue. It should be jobs, jobs, jobs.

[RockinRight]

Obviously, Perry is not proposing taking away Social Security for anyone.

He does, however, need to clarify his full position, and ideas on how to keep it solvent and transition to a better plan for those of us under 40 to 50 years old.

[DRey]

Bush didn't mean it.

Perry's statement was jarring, no doubt. But he didn't get where he is after 22 years in politics by saying things he should not have said. The media will say otherwise, but it's just not true. I knows what he's doing.

[tobyhill]

That would be the next “controversy”.

[HereInTheHeartland]

“not that the decline in the standard of living in this country affords many folks to put back money in that quantity anyway.”

It's already being taken from their paychecks.

[DRey]

txrangerette to DRey
Perry to be on radio with Hannity at the top of the next hour...just announced on air.

[RockinRight]

I figured much more conservative returns and still came up with about a 25% increase over current payouts on SS.

[dragnet2]

How is it possible the corrupt bloated government continues to subsidies tens of millions of illegal aliens on the backs of the tax payers, but tells the tax payers their too broke to pay Americans for what they seized from their pay checks over the course of their work histories??

[KeyLargo]

Good thread over here heated up with freepers comments:

I Earned These Entitlements

Redding Record Searchlight ^ | August 29, 2011 | John Cleckner

Posted on Monday, August 29, 2011 9:22:55 AM by Poundstone

I earned these ‘entitlements’

http://www.freerepublic.com/focus/f-news/2770354/posts

[tsowellfan]

Which is it, Michael ?

I think "the most" reaganesque would be the two key words Michael Reagan used. He did not say (nor did I post) that Perry was the only reaganesque candidate in the group.

[ArmyTeach]

If Social Security is a Ponzi scheme - and I believe it is a claassic example of such - I have one question. Well, more like three.
What is the almost certain end of a Ponzi scheme? Haven’t we seen Ponzi scheme ultimately collapse of their own weight? Don’t those who run Ponzi schemes end up in jail? Don’t those who bought into the Ponzi scheme end up bankrupt?

[hocndoc]

he can pull some of the youth vote with the truth.

[RockinRight]

It’s risky, and hurt Paul Ryan nationally IMHO (I know he’s not running, but his plan actually hurt GOP chances on the generic congressional ballot for a while).

However, if Perry is doing as good a job channeling Reagan as I think he is, he just might be able to pull it off.

He will have to convince voters that:

A - SS Is broke
B - his idea will work
C - it WON’T starve old ladies

And do all that while facing a headwind of liberal assault.

No easy task, but Gov. Perry has the best shot of anyone of doing that.

[Steel Wolf]

Nope. SS worked until we exported jobs. SS was designed for the working generation of Americans to support their parent’s generation. Mayor Bloomberg said there used to be 20 people supporting the retired person. Well there still are. Now only 3 are in this country and the rest are elsewhere

I hate to say this, but of your entirely incorrect post, the only shade of reason comes from Mayor Bloomberg.

The ratio of workers to retired has changed because people are living longer and having fewer kids. That means, the number of retirees is wider, the amount of time each person spends on the dole is longer and the base of the pyramid supporting them gets narrower.

People working overseas has no impact on Social Security. If I worked in a tennis shoe factory, and that job was moved to Indonesia, so now I work in real estate, then I'm still a worker, and I'm still paying SS. Even though unemployment is high, it ain't THAT high. The main problem is the three factors I mentioned above. Social Security can't possibly work when people live too long, and too few kids are born to replace those drawing benefits.

[tobyhill]

He will. What he will say is that unless there is some dramatic change it won’t be there, plain and simple.

He needs no proposals now, just the warning bells.

[samtheman]

You make good points, I have to admit.

[aMorePerfectUnion]

All Perry has to say is the truth:

The Gov’t FORCED us all to invest with a promise of Security.
Now they are making us work longer and talking about means testing.
They lied. Call them on it. Baby Boomers know it is true.

[taildragger]

Not even close. People already know it's a Ponzi Scheme and is going broke.

Correction, it is a Ponzi Scheme with Treasuries that cannot be traded, and are esentially IOU's in place of the former Cash Deposits/Assets. So we have an non-trading fictious asset that is actually a Liability. IMHO is it BROKE....

[RockinRight]

She was, until she failed The Ronald Reagan Test:

http://www.freerepublic.com/focus/f-news/2770434/posts

So far, Perry is passing handily.

[samtheman]

Again, I agree with the substance of what he’s saying. I’m just scared of the timing of his saying it now. But I do feel better reading the comments on this thread.