That revelation, which was greeted with a ho-hum by the media, basically announced that by 2033, 21 years from now, the so-called Social Security trust fund will be empty. The only reason this was even announced is because we are approaching a presidential election campaign, and...
Perry's biggest problem is that in Texas there are no debates for the Gubernatorial Race, even before he actually decided to run, he should have been taking debate lessons the hard-nosed way. Just as he was getting much better, he made the "Ponzi Scheme" comment, which the Media jumped all over and would not let it die till he left he race. Had he had better communication skills, he could have explained why Social Security was a Ponzi, he knew exactly what he was talking about. All fair minded Economists agreed he was right. When FDR created S.S. it was deemed unconstitutional by the Supreme Court, who struck it, and many other New Deal so-called laws. They found a way to get it through by using Title VIII and Title II and calling it a Tax.
When Texas Gov. Rick Perry, then in the early stages of his short-lived quest for the Republican presidential nomination, referred to Social Security as "a Ponzi scheme," he was excoriated by the press, left and right, and by his fellow Republicans, as well. Earlier this week, government actuaries revealed that Perry was correct.
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