Beltway Confidential

It’s not a Ponzi Scheme if you can’t exit!

By Timothy P. Carney
Published August 30, 2011 4:00am ET
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It’s not a Ponzi Scheme if you can’t exit!
Pointing out Social Security’s similarities to a Ponzi Scheme irritates Social Security’s defenders. Nick Baumann at the liberal Mother Jones created a cute Venn Diagram implying that the only overlap between a Ponzi Scheme and Social Security is that Rick Perry calls them both Ponzi Schemes. I think Baumann left some things out, so I’ve […]

Pointing out Social Security’s similarities to a Ponzi Scheme irritates Social Security’s defenders. Nick Baumann at the liberal Mother Jones created a cute Venn Diagram implying that the only overlap between a Ponzi Scheme and Social Security is that Rick Perry calls them both Ponzi Schemes.

I think Baumann left some things out, so I’ve created my own diagram:

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Timothy P. Carney