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The Alleged Budget Surplus, Social Security, & Voodoo Economics
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The Alleged Budget Surplus, Social Security, & Voodoo Economics [ペーパーバック]

Allen W., Ph.D. Smith



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This book deals with the budget-surplus myth, the Social Security Trust Fund, and economic malpractice (voodoo economics) over the past 20 years. It exposes the deliberate deception of the public by politicians from both parties which has led to the erroneous belief that the government has surplus money which is available for financing a large tax cut or new government programs. The book points out that there is no significant non-Social Security surplus today and that the projected surpluses for the next decade are little more than wishful thinking based on unrealistic economic assumptions.

The author points out that the surplus in the Social Security system is a planned surplus resulting from 1983 legislation that raised both the Social Security tax rate and the tax base for the specific purpose of building up a surplus for the retirement of the baby-boom generation which will require every dollar of the Social Security surplus. The book also includes a detailed history of the economic policies and economic malpractice of the past two decades.


Allen W. Smith, Ph.D. has devoted much of his adult life to battling economic illiteracy, and his new book, DEMYSTIFYING ECONOMICS, released April 15, 2000 is his most powerful weapon yet in his 25-year crusade. ALA BOOKLIST described the book as "....An excellent resource for beginners as well as those seeking to review their understanding of economic principles. Smith's book, UNDERSTANDING INFLATION AND UNEMPLOYMENT, was an alternate selection of Fortune Book Club, and his textbook, UNDERSTANDING ECONOMICS, published by Random House, was used in more than 600 schools in 48 states. After teaching economics for 30 years, Smith retired as Professor of Economics at Eastern Illinois University in 1998 to become a full-time writer. Smith wrote a widely-read syndicated column on the economy from 1990-1993, and for the past six years, he has written a weekly philosophical column, "Contemplating Life," which currently appears in 14 newspapers.

Smith holds a B.S. in education degree from Ball State university and M.A. and Ph.D. degrees in economics from Indiana University.


  • ペーパーバック: 128ページ
  • 出版社: Ironwood Pubns (2000/9/30)
  • 言語: 英語, 英語, 英語
  • ISBN-10: 0964850451
  • ISBN-13: 978-0964850453
  • 発売日: 2000/9/30
  • 商品パッケージの寸法: 22.8 x 15.4 x 0.8 cm
  •  カタログ情報、または画像について報告

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カスタマーレビュー にはまだカスタマーレビューはありません
星1つ で最も参考になったカスタマーレビュー (beta) 5つ星のうち 4.4  5 件のカスタマーレビュー
5 人中、4人の方が、「このレビューが参考になった」と投票しています。
5つ星のうち 5.0 Public policy for beginners 2000/10/30
投稿者 Victor Stoltzfus - (
Dr. Allen W. Smith has written accurately and understandably about a topic that usually well informed citizens avoid. We have heard such a drumbeat of the phrase "budget surplus". What is behind the numbers? Smith rightly complains that the total of the operating budget and the social security budget should not be added together to arrive at the size of the "surplus". Social security funds are owned by the SS Trust. They are not a kitty for program expansion or tax relief. The SOCIAL SECURITY surplus comes from a tax plan that was intended to shore it up for the future. By contrast, the operating budget surplus for 1999 was real but small. Projections for the future do anticipate a rise but with dubious assumptions of long term continuous expansion. Smith reminds us of our existing debt of $5.6 trillion at the end of 1999, requiring over $353 billion to finance. He criticizes both political parties for not putting the budget numbers in context and not advocating responsible fiscal policy. Smith has written several well received books and has been interviewed by CNN and numerous radio talk shows. This book is necessary to citizen literacy on economic policy for the present and future. Review by Victor Stolzfus, Ph.D, President Emeritus, Goshen College (IN)
4 人中、3人の方が、「このレビューが参考になった」と投票しています。
5つ星のうち 5.0 The Hobo Philosopher 2010/2/26
投稿者 Richard E. Noble - (
I didn't just read this book, I studied it. I have highlights on every page. Then from the information gained in this book and other books by Mr. Smith, I composed my own post regarding the National Debt which I posted on my blog, The Hobo Philosopher. Other folks picked up my post entitled "The National Dept with a Noble Solution." It is now posted all over the internet. I see it everywhere. This book was written and published in 2000 - G. W. Bush wasn't even president at the time. Johnson and Clinton receive equal criticism along side Reagan and Bush #1. Reagan and Bush contributed to the problem more substantially - the numbers don't lie. Therefore they get their fair share of criticism.

The book is non-political. It states the naked facts about what has been done to the Social Security Fund over the years. Everything is documented from government sources. It comes complete with charts, figures, dates and years. The book is only 128 pages long. It is the best primer on the problems with the Social Security Fund that I have ever read. You get the whole sad story right here in one very easy to understand volume.

Mr. Smith is a teacher - and that is very evident. He is obviously a good teacher. If you want to know about the Social Security Trust Fund, where it went and who did what, this is the best book you could buy. The author faults Democrats as well as Republicans. He has to ... because both parties have been guilty in the misuse and deception.

Mr. Smith is a teacher, not a politician. The book contains nothing but the facts. It is organized and simple to read.

Mt. Smith is clearly an intelligent man, a dedicated teacher, very knowledge in the discipline of economics and a tax-payer with a sincere commitment to the Social Security System. He has been teaching economics on a college level as his career. He tells it like it is.

If you want a simple, concise, documented primer on the Social Security Trust Fund, this is your book ... buy 2 and give one to an interested friend or another retiree.

Richard Noble - The Hobo Philosopher - Author of:

"America on Strike" American Labor - History
4 人中、3人の方が、「このレビューが参考になった」と投票しています。
5つ星のうち 5.0 Fresh air in the budget surplus debate. 2000/10/31
投稿者 カスタマー - (
Dr. Smith's book is fresh air in this political season of rhetoric concerning the so-called budget surplus. He has done an excellent job of tracing our country's economic policies through the various administrations of both major parties and helps one to understand how we got to today's situation.
I was especially struck at the fairness and even-handedness of Dr. Smith when dealing with both Democratic and Republican stances on the "surplus". He is very hard on Presidents Johnson and Reagan in creating the national debt that threatens our national economic well-being. He is also critical of both Al Gore and George W. Bush in their proposed uses of the "surplus".
This book is also well written. Dr. Smith has an uncanny way of taking complicated economic principles and rewording them in a straight forward, easy-to-understand format that was refreshing to read.
In summary I enthusiastically give this book the highest rating! It is a book for all open-minded persons how are willing to look beyond the rhetoric of today's politicians and seek the truth .
1 人中、0人の方が、「このレビューが参考になった」と投票しています。
5つ星のうち 5.0 Voodoo Politics 2011/2/26
投稿者 Jeffrey Ehlenfeld - (
Here is an account of how decades of Presidents and Congress have put aside sound economics in favor of following their own political agenda. Economics, sound economics, deals only with facts and so the end result is the truth and like a Chemists, Physicist, or other Science reporting the truth is not always what people want to hear, especially when it does not serve their purpose. This was the case in "voodoo economics" and Dr. Smith shows how this economic theory was never tested and yet our President and Congress pushed it through to run the US economy.
We now know for fact, looking back in history, that "trickle down economics" does not work and in fact did more harm than good.
Dr. Smith also gives a full discussion about The Social Security Trust Fund and how that money was used to help cover the actual deficit as well as pay for unfunded bills such as tax cuts.
The sad truth about the tax cuts is that they were funded with Social Security Fund money. This money is paid PRIMARILY by the working class because there is a limit or cap on money that's taxed against the wealthy (does that surprise ANYONE?). So basically, working Americans paid the wealthy for the tax cuts with their benefit money. Read Dr. Smith's book and tell all your friends about how we have been taken advantage of in the worst possible way.
Excellent book, I recommend it highly!
12 人中、4人の方が、「このレビューが参考になった」と投票しています。
5つ星のうち 2.0 A genuine problem is detailed for the future 2000/10/23
投稿者 Glenn R. German - (
This book contains a lot of facts concerning the abuse of the Social Security funds we send and have sent to Washington.
The author is a bleading heart liberal and bashes Bush throughout. He could have better spent the time Bush bashing by offering readers some what-if situations such as "How would privitatization of a portion of the funds affect the future Social Security recipients?"
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