Senator Ron Johnson lays out nation's financial woes; calls Social Security a "legal ponzi scheme"

By KBJR News 1

June 30, 2014 Updated Jun 30, 2014 at 3:27 PM CDT

Superior, WI (NNCNOW.com) - While President Obama wrapped up his two day tour in Minnesota, the Northland's lone Republican in the United States Senate met with voters at a town hall meeting in Superior.

When laying out the country's financial woes, Senator Ron Johnson called on Democrats to work with Republicans in Congress.

With Washington D.C.'s dysfunctional demeanor in mind, Sen. Johnson called on members of both parties to address what he calls a spending and taxing problem.

"The tax system is just a disaster, it's destructive, it's counterproductive," Sen. Johnson said.

While President Obama says the nation's economic future appears optimistic, Johnson made the case that the economy is not getting better.

"We didn't fix the problem, unfortunately, we didn't solve, we didn't conquer poverty," Sen. Johnson said.

The Republican also pointed to Social Security, asking Americans to be cynical of the program's sustainability.

"Before I got into the campaign I called Social Security a ponzi scheme. First of all, let me admit I was wrong because a ponzi scheme is illegal," Sen. Johnson said. "When the Federal Government runs a ponzi scheme it is legal. I don't take any joy in saying that, it's sad and unfortunate, but that is what it is."

For an hour the Senator fielded questions from the crowd ranging from immigration, the deficit, job creation, and the ongoing situation in Iraq.

While focusing on the national debt, Johnson said he spoke with President Obama about opening a dialogue with the American people about the country's financial woes.

"The President after talking for five ten minutes he finally got to the punch line. He (Obama) said Ron, if we showed the American public numbers this big they are going to throw up their hands and give up hope," Sen. Johnson said.

Some political insiders believe the United States Senate may fall into Republican control this November due to many competitive Senate races across the country.

Sen. Johnson said if the GOP seizes control of the Senate, he is in line to become Chairman of the Homeland Security and Governmental Affairs Committee, which deals with regulations.

Nick Minock