Paul Ryan: Rick Perry's right about Social Security

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.”…

“They’re both right,” Ryan said of Perry and Romney. “[Social Security] is not working, it is going bankrupt, and current seniors will be jeopardized the most by the status quo.”