The "Social Security is a Ponzi scheme" argument just won't go away. You'll recall that Rick Perry got in trouble for rehashing this allegation, made in his book, during a GOP candidates debate at the Reagan Library. Republicans then pivoted slightly, moving away from Perry's extreme view, toward their more traditional position: that Social Security needs to be "reformed."
The last time the GOP took a serious crack at reforming Social Security, George W. Bush was in the White House, and he put before Congress a proposal to privatize a portion of Social Security, insisting that investment returns were the best way for Americans to keep the system solvent.
Now Mitch Daniels has taken up the charge. Or I should say re-taken-up the charge, as the Indiana Governor, who's being touted as a possible vice-presidential pick, has been a critic of Social Security going back to the days when he was…George W. Bush's Director of the Office of Management and Budget.