Mike Bloomberg has vowed as a Democratic candidate for president to “strengthen entitlement programs,” CNN reports.
But when he was mayor of New York City, Bloomberg twice compared Social Security to a “Ponzi scheme” and repeatedly said cuts to that program as well as Medicare and Medicaid had to be part of any serious solution to reducing the federal deficit.
Said Bloomberg: “I don’t know if Bernie Madoff got his idea from there, but if there’s ever a Ponzi scheme, people say Madoff was the biggest? Wrong. Social Security is, far and away.”Save to Favorites