GOP Activist: Social Security is a Ponzi Scheme
Thanks to the launch of the “Pledge for America” the American public can, hopefully, start to focus on some policy specifics offered up by the Republicans. If they try real hard they might even imagine the world created by these policies, a world that Dick Armey is trying hard to create.
The former House Majority Leader, conservative activist and founder of one of the original tea party groups FreedomWorks has not been shy about his goal to privatize Social Security. At a recent conservative political convention, Right Nation 2010, Armey spoke at length about the need to remove Social Security from the public sector and transfer it to Wall Street.
In fact, Armey went so far as to call the hugely successful social safety net a “Ponzi scheme,” and it is a theme some other Republican candidates, like Wisconsin Senate nominee Ron Johnson are running with as well.
Not all tea party Republicans have been as bold as Armey in calling for an outright end to the program, and that’s probably due to the fact that the American public remains very uncomfortable with the idea of Wall Street managing these benefits. This is especially true after so many watched private retirement accounts significantly decline in value or get wiped out all together. That said, it is an idea that is once again gaining traction within the GOP, reflecting a continued reverence by the right for corporate profit over people.
photo courtesy of swanksalot via Flickr