Rick Perry Calls Social Security 'A Criminal Enterprise', Defends 'Ponzi Scheme' Criticism

Texas Governor Rick Perry defended harsh words he's used to define his stance on Social Security in an interview with Time published online on Thursday.

"I don’t get particularly concerned that I need to back off from my factual statement that Social Security, as it is structured today, is broken," he said. "If you want to call it a Ponzi scheme, if you want to say it’s a criminal enterprise, if you just want to say it’s broken -- they all get to the same point."

The Republican presidential contender has taken heat from Democrats, rival presidential candidates and even Karl Rove for repeatedly characterizing Social Security as a "Ponzi scheme." After walking back his choice of words as they appear in his memoir, Perry stood by his criticism of the entitlement program during last week's GOP presidential debate.

"It is a monstrous lie," he said on stage at the Reagan Library. "It is a Ponzi scheme."

Mitt Romney shot back, "You can't say that to tens of millions of Americans who have lived on Social Security."

In the Time interview, Perry also asserted, "Calling Social Security a Ponzi scheme has been used for years. I don’t think people should be surprised that terminology would be used."

He discussed his plans to reform Social Security, including raising the retirement age, infrastructure changes and privatization.

His views may be unpopular with other candidates, but voters may not be too concerned about his position on the program. A recent poll shows Perry as the clear leader of the pack.

Watch his remarks from the debate below:

Comments

[Jerry Peel]

09:41 PM on 09/17/2011

Iknew somebody just like him his name was gorge bush funny thay are both from texas .ComeON America havent we had enough of texas.

[one09flat04]

02:35 PM on 09/16/2011

There is an area in Social Security benefits that can be dropped and save billions of dollars!
Since the establishing of Social Security, Congressmen of both parties, have been adding benefits
with out arranging to provide the money to pay for them! What should be done for those people that lose those unfinanced benefits? Come on now! You want me to solve ALL the problems? Roland C. Woodaka

[one09flat04]

02:27 PM on 09/16/2011

Here is a surewinner for President Obama: Pass a tax rate comparable to the Reagan years!
We can call it the "Ronald Reagan Tax Reform Act of 2012"! RolandC. Woodaka

[one09flat04]

02:21 PM on 09/16/2011

In one way...Rick Perry may be right! If the Republican Tea Party gains the total upper hand
and keeps chopping away at Social Security...the promiseof retirement benefits...May be a LIE!
RETROACTIVELY! Roland C. Woodaka

[1dabut1]

01:46 PM on 09/16/2011

if anything is a ponzi scam, reaganomics, is a ponzi scam. right up front, give everything to the rich and we will let the wealth trickle down. if thats not ponzi i don't know what is.

[one09flat04]

02:24 PM on 09/16/2011

Here is a program President Obama might be able to get through Congress...send a bill to
re:arrange taxes to the Reagan tax rates! You can call it the Ronald Reagan Tax Reform Act!
rcw

[Eduardo Tijerino]

01:45 PM on 09/16/2011

If social security is a Ponzi Scheme ( a fraudulent investment operation that pays returns to separate investors, not from any actual profit earned by the organization, but from their own money or money paid by subsequent investors) then life insurance is a Ponzi Scheme, as is Auto Insurance & all kinds of insurance. The Geico Gecko and the Progressive woman in white should be barred from ever annoying me with their uninvited presence on my TV screen.

[bdcelina777]

01:24 PM on 09/16/2011

If it is criminal Governor Perry, will you procecute all politicians and employees that participated if elected?

[Jeff Parfitt]

01:20 PM on 09/16/2011

Social security is not a ponzi scheme, it's underfunded because Congress raids it to balance their budget. If it were protected, and everyone paid their taxes, we wouldn't have a problem.

Perry's just a nut. His rhetoric is just mirroring what his advisors have told him. I don't believe Perry really thinks for himself, he just says what other people tell him to say.

[AyeChart]

01:05 PM on 09/16/2011

Rick Perry Makes New Inflammatory Remarks About Social Security

In order to do that, all he has to do is tell the truth about SoshSec.  It's a government-run Ponzi scheme!  That's it, that's all, that's the truth.

Romney was correct:  If it were not the government running this, the perpetrators would be in jail when caught.

[3decadesofdisbelief]

12:58 PM on 09/16/2011

I.m afraid truth is not what gets you elected . My 84 yrs on this planet has taught me you can sell a ponzi scheme to the masses if it promises something to the constituent that other people pay for. One of the lawyers that was in the drafting of the SS act is quoted as stating "I'm glad I was never asked to defend the constitutionality of the act" The war on poverty spent trillions to "abolish" poverty ultimately resulting in more poverty than was recorded when it was enacted. .

[jbaindreamer]

12:29 PM on 09/16/2011

I don't know if he's actually this stupid, or he's arrogant enough to think people believe him. Again...another republican super star. Pitiful.

[3decadesofdisbelief]

05:18 PM on 09/16/2011

I would respect your rebuttal if you had one!

[hang319]

12:20 PM on 09/16/2011

F-in nutwad! Does GOP have a never-ending supply of those or what?!

[AyeChart]

01:06 PM on 09/16/2011

The crazies are the people who think what he said is crazy!  It's the truth.

[hang319]

05:25 PM on 09/16/2011

backing away...

[skybar]

12:19 PM on 09/16/2011

Just try to get rid of Social Security and listen to the Tea Party whine like babies - "Keep your government hands off my Social Security!"

[AyeChart]

01:06 PM on 09/16/2011

I do believe you are misreading the TEA Party.  They have way more integrity than their opponents.

[BeerRun]

01:34 PM on 09/16/2011

Yes lets get are guns and yell yell yell thats integrity.

[skybar]

08:55 AM on 09/17/2011

Thanks, I needed a laugh today.

[Gestas]

12:15 PM on 09/16/2011

Perry loves "Farm Aid"....It paid for his "D" grades and his Cheer Leader dress.

[bryanzth]

12:12 PM on 09/16/2011

Elder care is a "criminal enterprise"?

So, let me remind all of you of this:
"In Eskimo culture the grandmother was pushed out into the ice-flow to die as soon as she became useless."

Is that what we want to do with seniors, JR Perry, when their families no longer exist or cannot themselves take care of their elders?

What kind of blame-the-victim candidate is JR Perry?

BZ.

[AyeChart]

01:07 PM on 09/16/2011

As long as you are imagining things and creating straw men, why not imagine that Republicans wish to put the elderly into rockets and send them into perpetual orbit or into the sun?

[bryanzth]

02:12 PM on 09/16/2011

Oh look at the American flag wrapping a cross?

Look, obviously not gonna set granny on an ice-floe in Texas, 'cause it's too hot due to global warming and negligence on the part of the C-student governor deciderer version 2.0.

But granny's gonna starve and die from lack of medical attention as well as suffer from exposure.

You take care now, I hope your high blood pressure ain't too high for your deductible. But then, you probably have a nice pension or two or three.

AC: "I got mine! You're not loved by God since you ain't got yours!"

BZ.

[bryanzth]

02:14 PM on 09/16/2011

Oh. And please distinguish between the two literary strategies, strawman and metaphor. Three paragraphs, and use topic sentences. Cite your references (no bagguer sites). 30 minutes. Pencils down when the bell rings. Start.

BZ.