NEW YORK ( TheStreet) -- Rick Perry called Social Security a "Ponzi scheme" and "monstrous lie" during Wednesday's GOP presidential candidates debate in California.Candidate Mitt Romney defended the program, which has provided retirement benefits for retired Americans since the New Deal era in the 1930s. In the past decade, there has been much talk that the fund wouldn't be able to meet all the future demands for payments with the baby boom generation retiring.
Poll: Is Social Security a Ponzi Scheme?
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