To the Point
Social Security: 'Ponzi Scheme' or 'Monstrous Lie?'
Rick Perry has made Social Security a "white hot" political issue once again. We hear about the financial and political security of the New Deal's most popular legacy...
By Warren Olney • • 51m ListenRick Perry has made Social Security a "white hot" political issue once again. We hear about the financial and political security of the New Deal's most popular legacy. Also, President Obama lays out his plan to cut the deficit by over $3 trillion, and the bankruptcy of high-tech solar-panel maker Solyndra. Was it caused by low-tech competition from China?
Banner image: People line up outside of the Social Security Administration office in San Francisco, California. Photo by Justin Sullivan/Getty Images
In this episode
3 storiesObama Lays Out Plan to Cut Deficit
President Obama offered his deficit reduction program today: $4 trillion over 10 years. In a White House speech full of passion and political talking points, he wants to cut federal taxes for middle class workers and increase them on the wealthy, a move Republicans call "class warfare."
Read the story8 minSocial Security: 'Ponzi Scheme' or 'Monstrous Lie?'
In today's speech on deficit reduction, President Obama said Social Security should be treated separately — at some later time. But Rick Perry's talk of a "Ponzi scheme" and "a monstrous lie" have made America's most popular government program a possible presidential campaign issue next year.
Read the story37 minCan US Solar Companies Compete with Cheaper Chinese Rivals?
Solyndra has filed for bankruptcy and laid off 1100 workers. It's being investigated by Republicans in Congress and the FBI. The Obama White House has taken heat for pushing $527million in federal subsidies for the California-based solar company as a provider of jobs in the "green economy."
Read the story7 min
