Whether or not Social Security is a Ponzi scheme was again a source of great discussion during Monday's Republican presidential debate, and it appears this is likely going to be a hot issue throughout this election cycle.
What should be interesting to participants and pundits alike is that during the last presidential campaign, on November 5, 2007, the late Tim Russert, and Chris Matthews, while talking about the Democrat candidates on an episode of MSNBC's "Hardball" broadcast exactly one year before America elected its first black president, agreed that Social Security was "a bad Ponzi scheme" (video follows with transcript and commentary):
RUSSERT: And if you’re going to make tough decisions as a president, you have to answer tough questions. What are you going to do? Show us how you’re going the lead us. Everyone knows Social Security, as it’s constructed, is not going to be in the same place it’s going to be for the next generation, Democrats, Republicans, liberals, conservatives.
MATTHEWS: It’s a bad Ponzi scheme, at this point. Yeah.
Flashback 2007: Tim Russert and Chris Matthews Agree Social Security Is 'A Bad Ponzi Scheme' NewsBusters.org
By Noel Sheppard September 13, 2011 11:03