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Ponzi Scheme Pedigree – Rosslyn Smith

09/10/2011

Given that pundits as diverse as Thomas Friedman and Karl Rove have their conventional wisdom knickers in a twist over Rick Perry doubling down on his position that Social Security is a Ponzi scheme, it is instructive to look at where that term has been used before to describe the American Social Security system and by whom.

Consider these two statements.

“The beauty of Social Insurance is that it is actuarially unsound”(italics in original)”

and

“A growing nation is the greatest Ponzi scheme ever devised. And that is a fact, not a paradox.”  […]

Read More at American Thinker.

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