Friday, September 16, 2011

Baby deserves to be thrown out with the bathwater

Rick Perry, candidate for the Republican presidential  nomination, is catching flak for claiming that Social Security is like a "ponzi scheme".  I am not sure what is wrong with the comparison.  Even if you set aside any kind of personal judgment about Social Security, it does fulfill the definition of a ponzi scheme to the extent that it pays off previous "investors" based on the the income from new investors, without any kind of new-money-making activity taking place.  Yes, it is a ponzi scheme, just like the housing market (yet, how common it is for commentators to yearn for the housing market to come back up).  Or like religion.

On that subject, Mr. Perry has been effusive about his religiosity at a number of public appearances.  He deserves to not be nominated for just that reason (sir, what part of separation of church and state do you not understand?).

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