A Ponzi scheme is an investment scam that pays early investors with money taken from later investors to create an illusion of big profits.

The Gazette's Dec. 29 definition of a Ponzi scheme: “A constant infusion of new investors (taxpayers) to furnish the cash (re-election) for the scammer (bill sponsor)” certainly fits our Congress of ...

So according to a recent letter writer (Feb. 6), Social Security is not a Ponzi scheme. By definition, a Ponzi scheme has no investment backing it; it pays its investors [read: taxpayers] using their ...