Category Archives: Social Security 101

Professor of Economics Allen W. Smith explains the looting of our Trust Fund on the Jeff and Mike Show

Dr. Allen W. Smith was Professor of Economics at Eastern Illinois University for 30 years before his retirement in 1998.  Devoting his retirement to writing full-time about the intersection between public policy and economics, Dr. Smith published The Looting of Social Security: How the Government is Draining America s Retirement Account in 2004 and THE BIG LIE: How Our Government Hoodwinked the Public, Emptied the Social Security Trust Fund, and caused The Great Economic Collapse in 2009.

In this interview, Dr. Smith confirms and explains the disastrous financial practices that have emptied our Trust Fund and left us with a funding crisis just over the horizon.

Baby Boomer women facing tough retirement realities ahead

No one can deny Boomer ladies changed everything. Born between 1945 and 1963, the women of the Boomer Generation redefined everything it meant to be female in the United States: they had careers, higher education, they were Supermoms, they were important social activists, political leaders, and cultural influencers. But despite being the first generation of… Continue Reading

Money Morning: “The Social Security Trust Fund is Just a Stack of IOUs in a West Virginia Filing Cabinet”

“Over the years, different presidents have been accused of “raiding” the Social Security Trust Fund…but that’s understating what’s actually happened. The truth is, every president since Franklin Delano Roosevelt has overseen this “borrowing” from the Social Security Trust Fund.” This article by David Zeiler at Money Morning revisits President George W. Bush’s 2005 statements following… Continue Reading

Social Security Raid Endangers Retirement Benefits

In the final budget of his presidency, Bill Clinton revealed a dirty secret that Senior Citizens are still paying for today. In his 2000 Budget Proposal, President Bill Clinton explained the truth about the Social Security Trust Fund: “The Social Security Trust Fund does not consist of real economic assets that can be drawn down… Continue Reading