Rick Perry: Social Security is a “Ponzi Scheme”

By Catey Hill

On Saturday at a speech in Ottumwa, Iowa, Gov. Rick Perry declared Social Security a scam, according to the Houston Chronicle. “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. “It is a monstrous lie on this generation, and we can’t do that to them.”

Perry added that he wasn’t suggesting that the government should kill Social Security for his generation, but that serious changes needed to happen to the program so it could be viable for younger generations.  Among the changes he tossed out: raising the age of eligibility and a means test.

It appears that Perry’s controversial strategy is working.  Several polls reveal that Perry is the Republican front-runner, according to the Wall Street Journal. Still, Obama beats Perry 49% to 43%, according to a Public Policy Polling survey.