Republican presidential candidate Rick Perry is speaking out against Social Security, calling it a "Ponzi scheme" and a "monstrous lie," since younger Americans may never get back their contributions when they retire.
"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 told a crowd at the Vine Coffehouse in Iowa, according to the Houston Chronicle.
Perry recently wrote a book about his controversial opinion on Social Security. The book, Fed Up!, claims that the program was created "at the expense of respect of the Constitution and limited government," and amounts to little more than a Ponzi scheme.
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While in Ottumwa, Iowa, Perry discussed several potential changes to the Social Security program, including raising the age of eligibility and establishing a threshold based on a person's means.
"Does Warren Buffett need to get Social Security? Maybe not," he said.
Perry is currently leading in the polls, with a packed fund-raising schedule ahead, and plans to visit the other early-voting states over the long Labor Day weekend. Fellow Texan Ron Paul placed second in the straw poll.
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