(CNN) — Responding to Texas Gov. Rick Perry’s labeling of Social Security as a “Ponzi scheme,” Vice President Joe Biden said in a CNN interview the governor needed to check his facts.

“He should go back and find out who Ponzi was,” Biden told CNN’s John King in an exclusive interview to air Monday night. “It was an individual in a different deal, but no it’s not a Ponzi scheme. It is secure through 2036 and to fix is not hard.”

Perry made the comment in his first GOP presidential debate Wednesday in California, saying it’s a “monstrous lie” to tell younger generations that they will benefit from the system when they retire. He’d previously devoted a passage in his book, “Fed Up,” to Social Security, criticizing the system and calling it a “Ponzi scheme.”