Cruz on Social Security as a ‘Ponzi Scheme’
In a televised debate on taxes, Sen. Ted Cruz denied that he ever called Social Security a “Ponzi scheme.” But in a 2011 interview, Cruz gave the definition of a “Ponzi scheme” and said it fits Social Security.
“That is exactly how Social Security operates,” Cruz said in 2011.
The issue of Social Security came up between Cruz and Sen. Bernie Sanders. A Vermont independent who unsuccessfully ran for the Democratic presidential nomination in 2016, Sanders said Cruz was “quoted as saying Social Security is a Ponzi scheme.” Cruz denied doing
