Perry calls Social Security 'monstrous lie'

The Houston Chronicle reports:

Riding high in the polls, Gov. Rick Perry rode into Iowa on Saturday with tough talk on President Obama, the economy and foreign policy and a declaration that Social Security is not only a Ponzi scheme but a "monstrous lie" for younger people.

"If you're for the status quo in America, I'm not your guy," Perry told an overflow crowd eager to see the presidential candidate at The Vine Coffeehouse, where people repeatedly sang God Bless America - once to try to encourage Perry to come in from shaking hands with people outside.

Asked by a woman in the crowd about Social Security being viewed as an entitlement program, Perry reiterated the suggestion in his anti-Washington book, Fed Up!, that the program amounts to a Ponzi scheme.

"It is a Ponzi scheme for these young people. The idea that they're working and paying into Social Security today, that the current program is going to be there for them, is a lie," Perry said. "It is a monstrous lie on this generation, and we can't do that to them."

Actually, it's just a welfare program according to law.