When I hear “Ponzi” I assume the speaker is an idiot …

“The first modern social insurance program began in Germany in 1889 and has been in continuous operation for more than 100 years. The American Social Security system has been in continuous successful operation since 1935. Charles Ponzi’s scheme lasted barely 200 days.”

Social Security [via NewMexiKen]

Yesterday, Krauthammer wrote a column about the SSA Ponzi scheme. In the last paragraph, he concluded it was morally necessary and good. That’s the paragraph no conservative will quote.