Romney’s spin over his epic flip flop fail on Social Security tonight ought to be priceless

FacebookTwitterPrintFriendly

Andrew C. McCarthy pegs it:

Mitt Romney’s demagoguing of Rick Perry for calling Social Security a Ponzi scheme is just mind-boggling. Let’s put aside for a moment Stanley’s invaluable column on the home-page today, demonstrating that, for nearly half a century, reputable commentators across the ideological spectrum have referred to Social Security as a Ponzi scheme due to the undeniable fact that its structure is — and has always been — unsustainable. The fact is that, just last year, Romney himself compared social security to a fraudulent criminal enterprise.

As John McCormack recounts at TWS:

[I]n his book “No Apology: The Case For American Greatness”, which was published just last year, Romney compared those managing Social Security to criminals, saying:??

“Let’s look at what would happen if someone in the private sector did a similar thing. Suppose two grandparents created a trust fund, appointed a bank as trustee, and instructed the bank to invest the proceeds of the trust fund so as to provide for their grandchildren’s education. Suppose further that the bank used the proceeds for its own purposes, so that when the grandchildren turned eighteen, there was no money for them to go to college. What would happen to the bankers responsible for misusing the money? They would go to jail. But what has happened to the people responsible for the looming bankruptcy of Social Security? They keep returning to Congress every two years.” [Emphasis in McCormack’s post.] 

Social Security is a Ponzi scheme — only worse, because Ponzi schemes are voluntary and Social Security is compulsory. Moreover, the Washington politicians who have promoted and maintained Social Security well knowing that it is a swindle — and well knowing that there is no “trust fund” because they have raided it — are the same Washington politicians who have prescribed federal sentencing guidelines that (a) impose life sentences on swindlers like Bernie Madoff for comparatively modest frauds, and (b) enhance the jail term of every fraud convict if his conduct — e.g., the raiding of a trust fund by a trustee — has violated a fiduciary duty he owed to his victims.

[…]

Until five minutes ago, Romney used this system would be deemed criminal if someone in the private sector tried to pull it off. Now, he calls Perry “reckless” for saying it is criminal. I hope someone asks him what changed his mind.

Tonight’s CNN “Tea Party Republican debate” – which starts at 8 ET – would be a great place to for that question to be asked, especially because Romney, sadly, is not the only GOP hopeful flip-flopping and demagoguing Perry’s Social Security stance right now (I’m talking to you, Congresswoman Michele  Bachmann).  Over to you,  Governor Perry. 

Perry, BTW, has a good piece explaining his “Ponzi scheme” position on Social Security here.   Hot Air’s Tina Korbe has an excellent analysis of the “Social Security is a Ponzi scheme” dust-up here.

Obama in the Keynesian Twilight Zone

FacebookTwitterPrintFriendly

**Posted by Phineas

Via Power Line, here’s a cute video from Minnesota Majority satirizing Obama’s weird obsession for trying the same failed solutions to unemployment over and over again:

Maybe it’s because I’m such a Twilight Zone fan, but I think this is pretty amusing. And, like TZ itself, kind of scary at the same time. Thank goodness this could never happen in real life…

(Crossposted at Public Secrets)

Such classy people — not

FacebookTwitterPrintFriendly

**Posted by Phineas

As part of yesterday’s observance of the tenth anniversary of the September 11th atrocities, the US Embassy in London held its own services. Also present were a group of Muslims who held their own commemoration:

A small group of Islamist demonstrators staged a protest outside the US embassy in London Sunday during a ceremony to mark the 10th anniversary of the 9/11 attacks on the United States.

Around 50 people brandished anti-US banners, chanted slogans and burnt a small piece of paper with a picture of the US flag on it, an AFP journalist at the scene said.

Britain’s Press Association news agency reported that the protesters were from a group called Muslims Against Crusades.

They were there to disrupt a moment of silence scheduled for the time that the first plane struck the World Trade Center. When these religious fascists started their fire, the police formed a line to keep them away. Regrettably, no police dogs were loosed on these jerks.

Such classy people.

via Big Government

(Crossposted at Public Secrets)