Wednesday, August 31, 2011

Granny Bird Award: Rick Perry

A new feature at Cab Drollery, the Granny Bird will be awarded from time to time to individuals or groups who adversely affect the rights and interests of the elders, especially if they go out of their way to do so.

It is most fitting that the inaugural award should go to Texas Gov. Rick Perry, who, in a book published as he was burnishing his credentials to run for president, declared Social Security unconstitutional and "a Ponzi scheme." He has made it clear that he loathes this program and its partner Medicare and that he intends "to have a conversation" about them.

Well, Rick: here's the opening commentary from Granny.

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Blogger Florence said...

My sentiments exactly.

6:27 AM  
Blogger John Gardner said...

well, isn't it?

"A Ponzi scheme is a fraudulent investment operation that pays returns to separate investors, not from any actual profit earned by the organization, but from their own money or money paid by subsequent investors. The Ponzi scheme usually entices new investors by offering returns other investments cannot guarantee, in the form of short-term returns that are either abnormally high or unusually consistent. The perpetuation of the returns that a Ponzi scheme advertises and pays requires an ever-increasing flow of money from investors to keep the scheme going."

9:34 AM  
Blogger Diane said...

Watch it, young man! I know your mother.

10:47 AM  
Blogger John Gardner said...

ah, good to be called "young man" still :D

2:42 PM  
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6:45 PM  

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