End of the World: Liberal Chris Matthews Describes How Social Security is a “Ponzi Scheme” Today – Video 9/8/11
He still thinks Gov. Rick Perry is crazy for calling it that, but here is video of liberal Chris Matthews admitting that Social Security is currently being operated as a “Ponzi Scheme.” He even explains how it’s current structure essentially makes it so.
“You pay for it while you work. When you retired and have no other form of income, this will help you out. In fact, a lot were impoverished in the old days without Social Security. It’s a great anti-poverty program. But then people started to live past 65. Even the great Franklin Roosevelt didn’t make it to 65. In those days, if you made it to 65, you were lucky. You got a few bucks on Social Security.Today, lots of people fortunately make it past 65. They live into their 80s and 90s. They’re still getting checks. The system doesn’t work that way anymore. It’s not as healthy as it once was. So, how does a Republican deal with the fact it is a Ponzi scheme in the sense that the money that’s paid out every day is coming from people who have paid in that day. It’s not being made somewhere.”
Maybe Perry should sign him up!
