Stephen Colbert found Rick Perry to be the “clear winner” of Wednesday night’s Republican presidential debate, but what sealed the victory in Colbert’s opinion was that “he was the only one to man up and take on the 800 pound gorilla in the room, being stomped on by the elephant in the room…being ridden by the emperor who has no clothes: Social Security.”

Perry called Social Security a “Ponzi scheme.”

Colbert saw the same problem with banks: “You deposit a $10 bill, you go back to take it out, they don’t give you back the same bill. One time they tried to give me two 5s. Do they think I’m an idiot?”

Watch the clip below to see Colbert’s plan for Social Security reform and more analysis of Perry’s performance.

Originally broadcast September 8, 2011 on Comedy Central.