It’s not often that you see a member of the liberal media elite concede an important point to conservatives. It’s even rarer when the person doing it is Obama cheerleader Chris Matthews. But that’s just what happened during last night’s “Hardball” when the former Tip O’Neill aide dared to state the obvious fact that Social Security is remarkably similar to a Ponzi scheme—a truth that has become not just inconvenient to the left, but almost verboten.
Matthews’s admission occurred in a discussion about Republican presidential candidate Rick Perry who has come under a huge amount of fire from the left and even from fellow candidates for repeatedly stating that the pay-as-you-go nature of Social Security has many similarities to a classic Ponzi pyramid scheme.
Democrats and their media allies have tried to shield the American public from this fact but Perry’s continued usage of “Ponzi scheme” in his rhetoric has significantly raised awareness of Social Security’s fundamentally unsound nature, and in the process earned him the ire of the professional left.
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