-------- Original Message --------
Subject: Re: Ponzi follow-up, last call
Date: Thu, 11 Nov 2010 10:53:45 -0600
From: Catherine Frazier
To: Gardner Selby <wgselby@statesman.com>
...
Gardner, page 58-62 of the governor's book answer your question.

EXCERPT (page 61): "[Ponzi schemes] are fraudulent systems designed
to take in a lot of money at the front and pay out none in the end.
This unsustainable fiscal insanity is the true legacy of Social
Security and the New Deal. Deceptive accounting has hoodwinked the
American public into thinking that Social Security is a retirement
system and financially sound when clearly it is not."

This year, Social Security is expected to pay out more in benefits
than it collects in taxes. Americans today are being forced to pay for
a program that they will no longer see any benefit from or return on
their investment as it currently stands, similar to a Ponzi scheme.

On Nov 11, 2010, at 10:35 AM, Gardner Selby wrote:

> C, M:
>
> I didn't hear back from you on my query about why Social Security is
> a Ponzi scheme, as Perry says. I was especially interested in why
> it's a criminal enterprise. I hope to complete this article today.
>
> Thanks.
>
> wgs
>
> --
>
> W. Gardner Selby
> Editor, PolitiFact Texas
> Austin American-Statesman