Rick Perry has been catching some flak for calling Social Security a Ponzi scheme. Some conservative purists defended the former frontrunner for “telling it like it is.” Maybe. But Perry’s 10^th Amendment solution — which he slightly backed away from at the Fox/Google debate — could be even more disastrous.

Social Security is on a self-acknowledged path to insolvency. Its Board of Trustees says the fund will run dry by 2036, meaning the retirees of 2037 will not recover any of the tax dollars they contributed to the fund over a lifetime of work.