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Conservative talkie Laura Ingraham interviewed Rep. Paul Ryan the other day and she got him to side with Rick Perry's ludicrous assertion that Social Security is nothin' but a Ponzi scheme.
Speaking on conservative radio on Tuesday, Rep. Paul Ryan (R-Wis.) agreed with Texas Gov. Rick Perry's (R) claim that Social Security is a "Ponzi scheme."
When asked by host Laura Ingraham on Tuesday whether the country's social insurance program is a Ponzi scheme, Ryan replied, "That is how those schemes work."
Ryan: "So if you take a look at the technicality of Ponzi -- I would -- it's not a criminal enterprise," he said, according to a transcript. "But it is a pay-as-you-go system where ... earlier investors or, say, taxpayers, get a positive rate of return and the most recent investors -- or taxpayers -- get a negative rate of return."
A Ponzi scheme that's worked incredibly well since its inception back in 1935. Ryan is one of the Conservative young guns, someone they hope will articulate their vision for the future. Or, to put more realistically, he's a typical Wall Street corporate shill. His budget that was passed by House Republicans is designed to kill off Medicare by turning it into a voucher system. He hemmed and hawed responding to Ingraham, but finally agreed. I don't know why he just didn't endorse the idea immediately. So, as my pal Howie thinks. Will Perry pick Ryan to be his VP?
Right now he's playing it pretty even keeled as to who he will endorse:
Asked to side with Mitt Romney or Rick Perry in their debate over Social Security, Ryan said: "they’re both right" in saying that the program "is not working, it is going bankrupt, and current seniors will be jeopardized the most by the status quo."
The DCCC responded to Ayn Ryan's statements.
“Ryan’s belief that Social Security works like a Ponzi scheme proves — once and for all — that House Republicans have really declared a war on seniors,” DCCC spokesman Jesse Ferguson said in a statement. “A Ponzi scheme is Bernie Madoff ripping off Americans — not Social Security benefits that seniors earned and depend on during retirement.”
What a ticket Perry/Ryan would be.