Rick Perry calls Social Security bankrupt and a Ponzi Scheme, why?

Because he's a moron. It's not a Ponzi scheme at all. That requires more and more people paying in at each level. With SS we have more people collecting, with fewer payers per recipient.

Texas is trying to eliminate Medicaid and SSI programs since they fund half of these programs. He talked about seceding from the Union, so he is a little off the wall or even crazy. A Ponzi scheme is where someone takes money from one investor and uses it to pay another investor to appear as if he is making money. The government takes SS taxes and uses it to pay current beneficiaries which include seniors, disabled adults and children, survivor benefits, spousal benefits and SSI benefits.

Bankrupt...because government has pillaged it to pay for other things (see Clinton "surplus")...a Ponzi Scheme because you don't get back nearly what you paid into it unless you live to be like 150. Even investing in simple low-risk, low-yeild funds instead of being forced to pay into Social Security would give you more money come time for retirement. People don't need the government to hold their hand and force them to pay into a retirement account, anyways...anyone with half a brain is fully capable of doing it themselves...not to mention, anyone with a quarter of a brain would manage their investments better than the government does.

The only way it can go bankrupt is if we stop collecting Social Security taxes. It is as simple as that.

We have been told it will go broke because companies want to reduce our wages by stopping paying into it and keeping the part they pay it.

In reality we will arrive at a point in 2057 where it will only take in 70% of what it pays out for 6 years if we change nothing. After that it will begin to take in a surplus again for as long as we can see.

Rick Perry is against big Gov but accepts money from them,against big spending but how much did TX tax payers pay for his rental while Gov Mansion was being redone the man is a sick joke

Social Security has no funds after millions of us have paid into it for decades. We allowed our government to take our money out of that system and allowed them to increase our future taxes to pay for it. Getting rid of the cap would help, doubt it will solve the problem.

I am 26 years old. I don't plan on seeing a red cent of anything I ever paid into SS when I retire. I will live off my own investments/IRA because I don't trust SS or the government to protect it.

Social Security has all the elements of a Ponzi scheme.

It's 0bama's fault.

Maybe because it is genius!?