Fwd: Face it Republicans (and Democrats)...Chris Matthews is right.

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Date: Saturday, September 10, 2011
Subject: Face it Republicans (and Democrats)...Chris Matthews is right.
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Chris Matthews Admits Social Security is a Ponzi scheme

September 9, 2011

<http://patriotupdate.com/11933/chris-matthews-admits-social-security-is-a-ponzi-scheme#> <http://patriotupdate.com/11933/chris-matthews-admits-social-security-is-a-ponzi-scheme#>
<http://patriotupdate.com/wp-content/uploads/2010/12/500x_custom_1262724616450_chris-matthews-150x150.jpg>

On MSNBC's Thursday broadcast of "Hardball," host Chris Matthews committed the mortal sin — he nearly parroted the theory that mortified so many of the network's hosts and guests throughout the day. Matthews called Social Security "a Ponzi scheme" the day after Republican Texas Gov. Rick Perry doubled down on his previous statements echoing that sentiment in the Republican debate.

Matthews first put forth what he thought Social Security was originally intended to be: "You pay for it while you work. When you retired and have no other form of income, this will help you out. In fact, a lot were impoverished in the old days without Social Security. It's a great anti-poverty program. But then people started to live past 65.

"Today, lots of people fortunately make it past 65," he said. "They live into their 80s and 90s. They're still getting checks. The system doesn't work that way anymore. It's not as healthy as it once was. So, how does a Republican deal with the fact it is a Ponzi scheme in the sense that the money that's paid out every day is coming from people who have paid in that day. It's not being made somewhere."

Indeed Chris...how does anyone not say it's bankrupt, that Roosevelt overrode the Congresses will to put it into privately insured accounts and out of the hands of Washington, that it needs to be overhauled and that the media and congressmen stop lying to the public by saying otherwise.

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