Limbaugh warns Bachmann, Romney not to attack Perry for ‘Ponzi scheme’ remarks

Jeff Poor Media Reporter
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He says it isn’t an endorsement, but radio talk show host Rush Limbaugh warned Texas Gov. Rick Perry’s competitors that he will go to bat for Perry if they choose to attack him over his claim that Social Security is a “Ponzi scheme.”

During his Monday show, Limbaugh warned the 2012 Republican field not to use Perry’s remarks against him. He specifically named Minnesota Rep. Michele Bachmann and former Massachusetts Gov. Mitt Romney.

“I’ve not endorsed anybody and this is not an endorsement” Limbaugh said. “But be very careful if you start attacking Rick Perry on Social Security and the ‘Ponzi scheme.’ There are too many of you out there who have already said that yourselves — Mitt Romney. Mitt, you have already called it a Ponzi scheme. And worse.”

“I’ve got a whole list of people here — media and outside — in politics who have referred to Social Security as a Ponzi scheme,” Limbaugh went on. “And I’m hearing that Michele Bachmann is preparing to lay into Rick Perry about Social Security being a Ponzi scheme. And I would like to warn everybody: Be careful here because you’re pandering to the media.”

Limbaugh said Social Security wasn’t billed as what it has become and that such a characterization from Perry wasn’t necessarily out of bounds.

“Do you think that if Social Security had been honestly described as what it was — well, if somebody came to you and said ‘we’re going to create a Ponzi scheme, that you’re not going to have any choice’ — would you want it?” Limbaugh asked. “Of course not. Would you like a program that’s going to guarantee your retirement? Yeah, fine. It’s all about how the whole thing was put together.”