The Scheme

Rick Perry has come under fire, from pretty much everyone and the scientific community is united in that fact, for his position on Social Security.

It appears Chris Matthews agrees it is a Ponzi scheme in the sense that the money that’s paid out every day is coming from people who have paid in that day.

SmartMoney says -- Today's workers — boomers, Gens X and Y — like to carp about Social Security, but it's not all sour grapes or skepticism about paying into a system with an uncertain future. Employees today pay more in Social Security taxes than previous generations did. They're also likely to get smaller benefits when it's their turn to retire.

SmartMoney also noted -- It's common to think of Social Security as an individual account of sorts — what you pay in, you get back, more or less. That's far from accurate. By design, the Social Security Administration says, the system is tilted in favor of lower-income workers who have fewer resources to save for retirement.

Perry just needs to back it up with these types of facts.