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Post Partisan
Posted at 06:40 PM ET, 09/15/2011

Mitch Daniels: Social Security is a “Ponzi scheme”

Republicans unhappy with the current presidential field are often heard to say “If only Mitch Daniels had run.” Well, it seems the GOP dodged a bullet there. Daniels is clearly unqualified for the presidency. Why, you ask? He apparently has written a book in which he calls Social Security “grotesque,” a “lie” and ... a “Ponzi scheme.”

Columnist Mona Charen has seen an advance copy of Daniels’ forthcoming tome, “Keeping the Republic.” She reports:

In light of the fuss over Gov. Perry’s use of the term “Ponzi scheme,” it’s instructive to see Daniels’ description of the entitlement mess (which he too calls a Ponzi scheme): “For 70 years, Americans were misled to believe that they had been putting money aside for their own retirement, that there were actual assets being held somewhere that would provide for them in their golden years. This misrepresentation has been aptly named ‘the noble lie’ ... (In fact), the proposed future benefits grotesquely outstrip the future taxes we are scheduled to pay by some $5.4 trillion for Social Security and as much as $46 trillion for Medicare.

My goodness, such provocative rhetoric. Good thing Daniels stayed out of the race. Campaign operatives would no doubt be putting fliers under doors in Florida right now attacking him for wanting to rip checks from seniors’ hands.

By  |  06:40 PM ET, 09/15/2011

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