(CNN) - The Statement: Texas Gov. Rick Perry said at a September 7 MSNBC presidential debate that "it is a Ponzi scheme to tell our kids that are 25 or 30 years old today, you're paying into a program that's going to be there. Anybody that's for the status quo with Social Security today is involved with a monstrous lie to our kids, and it's not right." The "Ponzi scheme" label was also discussed during Monday night's CNN/Tea Party Republican presidential debate.
The Facts: According to the most recent report from the Social Security Board of Trustees, "projected long-run program costs for ... Social Security are not sustainable under currently scheduled financing, and will require legislative corrections if disruptive consequences for beneficiaries and taxpayers are to be avoided."FULL STORY