Corbett Budget Chief Says Rendell Was Running a “Ponzi Scheme”

Ponzi scheme: an fraudulent investment plot that pays its investors by roping in new, unsuspecting investors; OR a conservative depiction of a popular government program. (See Perry, Rick.) Yesterday Corbett budget chief Charles Zogby unleashed the term to describe Ed Rendell’s fiscal profligacy, including his expansion of adultBasic insurance for 40,000 of the working poor. (And which Corbett eliminated.) “It was the former governor who made that promise,” Zogby said, referring to adultBasic. “Like so many of his Ponzi schemes, he looked for this governor to solve the problem.” And “solve” that “problem,” Corbett did. [Inquirer]