Perry: It’s time to admit Social Security is a Ponzi scheme

Dude. I knew I liked you, but now I think I love you.

Via Allahpundit, choice snippets of Perry’s Newsweek interview transcript:

In Fed Up!, you criticize the progressive era and the changes it produced: the 16th and 17th Amendments, Social Security, Medicare, and so on. I understand being against these things in principle—of longing for a world in which they never existed. But now that they’re part of the fabric of our society, do you think we should actually do away with them?

I think every program needs to stand the sunshine of righteous scrutiny. Whether it’s Social Security, whether it’s Medicaid, whether it’s Medicare. You’ve got $115 trillion worth of unfunded liability in those three. They’re bankrupt. They’re a Ponzi scheme. I challenge anybody to stand up and defend the Social Security program that we have today—and particularly defend it to a 27-year-old young man who’s just gotten married and is trying to get his life headed in the right direction economically. I happen to think that the Progressive movement was the beginning of the deterioration of our Constitution from the standpoint of it being abused and misused to do things that Congress wanted to do, and/or the Supreme Court wanted to implement. The New Deal was the launching pad for the Washington largesse as we know it today. And I think we should have a legitimate, honest, national discussion about Washington’s continuing to spend money we don’t have on programs that we don’t need. 

Swoon. After three years of class warfare and total ineptitude, a little blunt honesty from tappin’ cowboy boots is all it takes to make this conservative heart flutter.

More, please:

I see how that might make sense for, say, education. But what would it mean for something like Social Security—a big, national safety net? In the book, you call Social Security a “failure” that “we have been forced to accept for more than 70 years now.” Is it time for it to end? 

Well, the counties of Matagorda, Bresoria, and Galveston in 1981 decided they wanted to opt out of this Social Security program. They have now very well funded programs and their employees are going to be substantially better taken care of then anybody in Social Security. So I would suggest a legitimate conversation about let the states keep their money and implement the programs. That’s one option that’s out there. But I didn’t write the book and say here are all the solutions. I think the first step in finding the solutions is admitting we have a problem—and admitting that Social Security is a Ponzi scheme. 

Counties were able to opt out of Social Security in the 80s? Were there others outside of Texas? Yes. Congress closed the opt-out loophole in 1983. Bush apparently touted these counties as a model in his attempt to talk-up the privatization of Social Security.

Read the rest as it’s rather enlightening. I can’t wait to hear tomorrow’s speech.

Linked as a Pundette “Recommended Read.” Thanks!

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4 Responses

  1. Fabulous. I complete agree with it. I just hope this doesn’t hurt him in the general.

  2. And here’s Perry on another scam:

    “Perry calls global warming ‘all one contrived phony mess that is falling apart under its own weight.'”

    http://weaselzippers.us/2011/08/13/rick-perry-calls-global-warming-a-phony-mess/

    He makes a nice contrast to Romney on global warming as well as abortion (which Romney was for before he was against).

  3. Most politicians are too cowardly to address the scam of Social Security. Personally, I’d be willing to forfeit any future payments if I could be let out of the mandatory ponzi scheme.

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