We’re not sure if this is supposed to be a hit piece against 2020 presidential candidate Michael Bloomberg, but since CNN’s KFile is involved, we’re assuming it is. CNN reports that when Bloomberg was mayor of New York City, he twice compared Social Security to a Ponzi scheme.
NEW from @KFILE @natemcdermott and me: Bloomberg said social security was a Ponzi scheme—worse than Bernie Madoff’s scheme—and compared it to a game of musical chairs. He also argued for cuts to entitlement programs. https://t.co/rjyB6enkqz
— Em Steck (@emsteck) February 26, 2020
Mike Bloomberg has vowed as a Democratic candidate for president to “strengthen entitlement programs.” 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.
The comments come from Bloomberg’s weekly appearances as mayor on the radio program “Live from City Hall,” which was reviewed by CNN’s KFile.
“We are giving monies out with the next guy’s money coming in and at the end of — when the music stops — it’s just not gonna be enough chairs for everybody,” Bloomberg said.
That actually makes a lot of sense. What didn’t was presidential candidate Al Gore promising to keep Social Security “in a lockbox.” You mean it wasn’t already?
That’s…not wrong. https://t.co/xREPC18MpE
— Emily Zanotti (@emzanotti) February 26, 2020
Fact check: True. https://t.co/mX2ad1YrZE
— Ryan Kelly (@Ryankelly281) February 26, 2020
He’s right https://t.co/O5iWgXmJ7P
— Eric (@Ericb1980) February 26, 2020
He’s right. If there aren’t enough young people paying into it there won’t be money for old people to get out of it. https://t.co/6IAgjzsxMO
— Dennis Walker (@DennisWalkerJr) February 26, 2020
No lie detected. https://t.co/ePCW7Tnx9i
— King Leon XIV (@BotTrollWutever) February 26, 2020
Where is he wrong? https://t.co/wpMGO9wRyx
— Curtis Woodard (@curtinsea) February 26, 2020
But . . . I mean . . . pic.twitter.com/OfNjKVXDnT
— Jarvis Good (@jarvis_best) February 26, 2020
show me the lie https://t.co/CNjCD7rMGC
— Logan Hall (@loganclarkhall) February 26, 2020
Instead of digging up dirt you guys are digging up gold. https://t.co/n5oh5syQtX
— Kate Hyde (@KateHydeNY) February 26, 2020
Between this and calling Bernie a communist to his face makes me like him a little bit https://t.co/iKxWwndU6q
— George Smith (@P1B_WMichigan) February 26, 2020
Wtf I love Bloomberg now https://t.co/i3uDu3YpGV
— Ben McDonald (@Bmac0507) February 26, 2020
— French Cake & Capitalism – Equality 7-2521 (@DAVIDFERNANDES8) February 26, 2020
He's right. https://t.co/xC6X91SzSH
— RBe (@RBPundit) February 26, 2020
One thing i can agree with Bloomberg on https://t.co/CZUeLo18yp
— Jay Malak (@KobbeMalak) February 26, 2020
Welp, Bloomberg just won the libertarian vote https://t.co/FjKihvbS6L
— Siraj Hashmi 🐶 (@SirajAHashmi) February 26, 2020
He's not wrong. Let *ME* invest my own money instead of SSA.
— Jeannie919 (@jeanmc919) February 26, 2020
There is a sense in which all social welfare schemes have Ponzi aspects but their ultimate viability rests on the taxing & sadly borrowing power of the nation state enduring https://t.co/psbqViGpdX
— Gray Connolly (@GrayConnolly) February 26, 2020
A broken clock is right twice a day. https://t.co/YPKpG6tPFe
— m/ -=EdVT=- m/ (@CargoShortLife) February 26, 2020
When he used to have just an ounce of common sense https://t.co/HEhyolUFpQ
— Tom Elliott (@tomselliott) February 26, 2020
— Scam Than Noon (@ScamThanNoon) February 26, 2020
The guy’s been accused of sexual harassment and a hostile work environment, and this is the dirt CNN comes up with?
— Twitchy Team (@TwitchyTeam) February 26, 2020