Praying for divine guidance out of his Social Security mess? (Jonathan Ernst/Reuters)
When is Social Security
not a Ponzi scheme in Gov. Rick Perry's mind? Apparently, when we're talking about the
current system.
This afternoon, Katherine Cesinger, a spokeswoman for Perry’s campaign, said Perry “believes that Social Security for current beneficiaries and those nearing retirement can and must be protected.”
But Social Security and other federal entitlements “are unsustainable and financially unsound if not reformed. There is broad agreement on that point,” she said.
Cesinger said Social Security’s unfunded liability is calculated in the trillions of dollars. Last year, annual Social Security outlays exceeded annual revenues for the first time since 1983, she said.
So it's not a Ponzi scheme now, when there are current beneficiaries that Perry might want to vote for him who happen to be doing just fine under the program, but it is a future Ponzi scheme, for all the people he's trying to scare into voting for him.
Good to know.