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The Alleged Budget Surplus, Social Security, & Voodoo Economics

The Alleged Budget Surplus, Social Security, & Voodoo Economics

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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.