If it looks like a duck, quacks like a duck and poops like a duck, it's probably a duck.
(The Hill) — The Republican chairman of the House Budget Committee on Tuesday drew fire from the Democrats for backing Texas Gov. Rick Perry’s description of Social Security as a “Ponzi scheme.”
Social Security fits the technical definition of a Ponzi scheme, Rep. Paul Ryan (R-Wis.) told conservative Laura Ingraham on her radio show.
“It’s not a criminal enterprise, but it’s a pay-as-you-go system, where earlier investors — or say, taxpayers — get a positive rate of return, and the most recent investors — or taxpayers — get a negative rate of return,” he said. “That is how those schemes work.”