Rick Perry is Right…

…at least about one thing: Social Security is a Ponzi scheme, at least in the technical sense of the phrase. A Ponzi scheme (named after Charles Ponzi) is when an investment manager takes money entrusted to him by one person, squanders it and then uses money invested with him to repay the first person. Isn’t that what we’ve done with Social Security? My Social Security taxes have gone to pay other government bills and then it will be my children’s taxes that will be used to pay my Social Security benefits.

Book

“[a] surprisingly modest account…Rattner has a journalistic talent for the telling detail, resulting in a memorable tale of life in the middle of the economic meltdown...Rattner deftly draws portraits of the inhabitants of "the Oval" and the West Wing...Rattner has proved himself a gifted chronicler.”
-Time Magazine

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