Sorry, Governor Perry, Social Security Ain’t No Ponzi Scheme

So now that Texas Governor and Republican candidate Rick Perry has stuck to his guns about Social Security being a "Ponzi scheme," people that ACTUALLY know the real state of the Social Security fund are speaking out. Basically, Governor Perry, if your political ego will not make you back down (we admire that, by the way), maybe these people will. These quotes come from today's Boston Globe.

 

“There’s a lot of fearmongering,’’ said John Rother, executive vice president of policy and strategy at AARP, a lobbying group for the elderly. “Social Security is a solid program that needs a few tweaks going forward. The idea that it’s somehow facing collapse is a gross overstatement.’’

“There will be a shortfall in 2037 that needs to be addressed, but to claim Social Security is bankrupt is really completely out of touch with reality,’’ said Max Richtman, president and chief executive of the National Committee to Preserve Social Security and Medicare.

Nonetheless, Republican Congressman and House Majority Leader Eric Cantor agrees with Perry:

“I think the point the governor is trying to make is that the math doesn’t lie and the numbers don’t add up,’’ Cantor said.

By the way, former Vice President Dick Cheney weighed in this week as well:

 

"I certainly don't believe it's a Ponzi scheme," Cheney said this week. "It's a program that a great many people depend upon. I think it's a very important program."

 
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