Social Security a Ponzi scheme? No, scholars say

[underpants]

DALLAS — Texas Gov. Rick Perry's provocative comparison of Social Security to a "Ponzi scheme" ignores key differences between Charles Ponzi's infamous swindle and America's social insurance program.

Namely, that one is an unsustainable fraud and the other isn't.

"There's nothing fraudulent or impossible about Social Security," said Henry Aaron, a Social Security expert at the center-left Brookings Institute. "There's no collapse that's inevitable. The system can go on forever."

Ponzi and swindlers who followed him intended to mislead, defraud and otherwise rip off investors. Social Security is intended to create a safety net for seniors, the disabled and other vulnerable populations. Its mission is clear, and its finances are largely transparent, if complicated.

http://seattletimes.nwsource.com/html/politics/2016150940_ponzi09.html

[abelenkpe]

1. Scholars?

Sadly, no right winger will listen past the word scholars.

But I love it!
:hi:

[Demeter]

2. Say it Loud, Say It Proud

Social Security is NOT a Ponzi scheme, and it's NOT an Entitlement, It's an Unbreakable Contract with American Labor, bought and paid for with taxes, sweat and tears.

[bhikkhu]

3. Well worth a rec and a read -

I have to admit, there was time that I had taken an extreme "skeptical economist" position, and would have agreed that SS was an unsustainable ponzi scheme. I said something to that effect here a couple of years ago and wound up being well-schooled by manny on the subject.

I hope any other democrats who are uncertain about the program take the time to self-educate!

[chill_wind]

4. Infuriating that the RW teabagggers/crazies have succeeded

in getting the media to even debate it as a legitimate "debate."

But, as Digby put it so well, "This is how it works."

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=103x626077

Perry and friends play this game because it works--whether they win elections or not. Because for them, winning the election isn't the key to success; winning the policy battle is. And they don't need to necessarily win the election to do that.