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