Saturday, September 10, 2011

Flashback -- Ron Johnson: 'Social Security is run like a Ponzi scheme'

I thought some of our readers might find this interesting. Sen. Ron Johnson called Social Security a Ponzi scheme repeatedly thoroughout his campaign last year. This ad played 24/7 in the Twin Cities radio market. I must have heard it 1000 times.

The end result? He beat Russ Feingold by 5 points in blue Wisconsin.

16 comments:

Anonymous said...

Sorry, but Ron Johnson's message sounds more like Romney's statement that SS has been mismanaged but needed to be saved. He didn't attack the foundation of SS like Perry did. Listen to the ad again.

Firecracker

Right Wingnut said...

Firecracker, I don't need to listen again. I've heard it so many times, I could almost recite it from memory.

I'm not defending Perry here, but the controversy seems to be centered around his use of the term Ponzi scheme. The focus should be on what the various candidates intend to do to fix the program. I've yeat to hear a serious proposal from any of the current candidates.

Anonymous said...

I agree that "Ponzi Scheme" is the center of the controversy, but Perry has no offered even a hint of finding a solution to fix SS. He hates the foundation of the program. Romney has offered some proposals to fix the program. He mentioned some on Sean Hannity the other day.

Another thing about Johnson winning despite his statements -- he comes off as a far more serious, no nonsense candidate unlike Perry. Perry comes off as a blowhard and a turnoff to independent voters.

Anonymous said...

Yes... and because he does come off like a blowhard and "the next mistake from Texas"... if the GOP runs Perry, Obama will be re-elected.

Romney is the ONLY GOP candidate that has any reasonable chance of defeating Obama.

Perry can't defeat Obama.

Romney can!!!!!!!!!!

Anonymous said...

2012 is not 2010, Fiengold is not Obama, and Johnson is not Perry.

In a national campaign for president Perry's little "ponzi scheme" remarks will kill him... and not only him but also republicans running for senate and congressmen in swing states.

craigs said...

RW
Everybody on this post is right on the mark. Saying it is " LIKE " a Ponzi scheme.........and saying it "IS" a Ponzi scheme , are very, very different. One is ILLEGAL. punishable by a prison sentence. The other is wasteful, inefficient and misused by the government. It is the incredibly poor words that will haunt Perry, particularly in Florida...where PONZI scheme is associated with Madoff.
I really doubt that Ron Johnson could get away with his comments in Florida....and neither will Perry

CraigS

Ohio JOE said...

"Sorry, but Ron Johnson's message sounds more like Romney's" Wrong! More evidence that Mr. Romney has little clue or understanding about how SS actually works. He needs to go back to economics 101. Great post RW. They even get it in the Purple state of WI. WI is some some Red State like Texas or OK.

"In a national campaign for president Perry's little "ponzi scheme" remarks will kill him... and not only him but also republicans running for senate and congressmen in swing states." Why do you say such silliness???

Ohio JOE said...

"Perry can't defeat Obama.

Romney can!!!!!!!!!!" Than Mr. Romney better brush up on his SS policy rather fast.

craigs said...

OJ
Read pp 157 - 159 of Romney's book , to brush up on your understanding of the SS problem. Then, read Perry's total book, particularly the section on SS " fixes ". Then, provide a critical review of the contrasting solutions.
By the way, S. Carolina and Florida voter demographics are somewhat different from Wisconsin. Ron Johnson's " message " is DOA in those two states

CraigS

Right Wingnut said...

Craig, that's right, because there are no old people in those states.

Right Wingnut said...

I meant no old people in Wisconsin.

Ohio JOE said...

BTW, I have faith that the old people in SC and FL are a lot smarter than Craig and company give them credit.

"Read pp 157 - 159 of Romney's book , to brush up on your understanding of the SS problem." No, the SS problem is much greater than 3 pages in a book. And the longer we fool and put our heads in the sand , the worse it gets. The people of WI get it; the Romneyites do not.

Massachusetts Conservative said...

Ohio Joe

If the Social Security problem is more than 3 pages long, why is Rick Perry only talking about how bad the program is, and how he hates its very existence, without offering any sort of languge that even suggests that we fix the program?

Anonymous said...

He has offered a solution to the SS problem -- let the states opt out. Meaning let's kill SS.

Firecracker

Anonymous said...

Folks, what's going on? I'm 60 years old, I saw over 1/4 of my retirement money completely disappeared. The houses we own have lost value as well. Though that wasn't actual money it was money we were looking at down the road to help with our retirement. In order for us to bring us back to pre-2008 retirement, my portfolio would have to make 20%+ each year. It isn't going to happen.

Now for my wife and I to do what we have planned to do. I have to count on that Social Security Check. I've put into it for over 40 years now with the expectation that it would be there for my wife and I. I expect it to be there. Telling me anything, for the good of the country, or a bunch of 25 year olds isn't going to do it for me or my family.

Yes, it may need to change, and yes I'd support such change but it needs to change in a way that won't further hurt my future.

Calling it a Ponzi scheme, or bloc grant to the states or any other is wrong. Mitt Romney is right, it had a solid actuarial base which would have kept it solvent to 2037, but congress has allowed it to be pulled out for projects.

Those that are rich don't have to worry about. Those that still have 20 years to get their ducks in order can work through it but when your 60 you have neither time nor wealth to work from and calling it a Ponzi scheme didn't set well with me at all.

Ohio JOE said...

"let the states opt out." Bingo! What happened to state's rights?

"calling it a Ponzi scheme didn't set well with me at all." To be blunt, calling the sky blue might not sit well with you either.