Illinois State Library

Illinois Center for the Book

Individual Author Record

General Information

Name:  Allen W. Smith, PhD  

Pen Name: None

Genre: Non-Fiction

Audience: Adult;


-- Website --
-- Allen W. Smith, PhD on WorldCat --

E-Mail: --

Illinois Connection

Smith is Professor emeritus of Eastern Illinois University.

Biographical and Professional Information

Dr. Smith, whose economics textbooks are used in high schools across the country, believes every citizen of the United States has a right to know everything about the waw the government used tax funding. He has been battling economic illiteracy and government economic malpractice. For the past decade, he has been screaming out the warning that, if the United States did not change course, the nation was heading toward the kind of economic calamity that finally struck in 2008. Allen's journey, is as an advocate for economic education and sound economic policies. Dr. Smith retired from teaching in 1977 to devotehis time to research.

Published Works Expand for more information

Titles At Your Library

Understanding Inflation and Unemployment
ISBN: 0882292765

Burnham Inc Pub. 1982

This volume scrutinizes the underlying causes of inflation and unemployment, with special emphasis on American economic conditions in the 1970s.

Demystifying Economics : The Book That Makes Economics Accessible to Everyone--Expanded Second Edition
ISBN: 0964850478

Ironwood Pubns. 2000

Written in simple language and using concrete examples that relate economics to ordinary life, offers a lay-oriented survey of basic economics.

The Alleged Budget Surplus, Social Security, & Voodoo Economics
ISBN: 0964850451

Ironwood Pubns. 2000

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.

The Looting of Social Security: How the Government Is Draining Americas Retirement Account

. 2003

Social Security: The Attempt to Kill It
ISBN: 0964850419

Ironwood Publications. 2005

The current Social Security “crisis” has been 22 years in the making. It is the handiwork of the presidents and members of Congress who served during that period, as well as the efforts to abolish Social Security by the Cato Institute, the Heritage Foundation, and many other individuals and organizations.” The actual solvency problem is not with the Social Security program. It is with the government's total budget. The 1983 Social Security Amendments raised payroll taxes by enough to fund both the retirement of the generation preceding the baby boomers and the baby boomers themselves. This tax increase generated $1.7 trillion in Social Security surplus between 1984 and 2005, and it will generate another $2 trillion between 2005 and 2017. This surplus money was supposed to be saved and invested to build up a large reserve for funding the retirement of the baby boomers. The problem is that the government did not save and invest the Social Security surplus as it was supposed to do. Instead, it “borrowed” and spent (embezzled) every dollar of the Social Security surplus, replacing the money with worthless non-marketable special issue government IOUs. In 1983, the same year that Social Security was “fixed,” members of the Cato Institute and the Heritage Foundation drew up a long-term plan for privatizing Social Security. They published their plan, entitled “Achieving A Leninist Strategy” in the Fall 1983 issue of Cato Journal. This plan served as the foundation upon which a powerful movement to destroy the current Social Security system and replace it with private accounts was built over the years. The goal was to have a privatization plan waiting in the wings when the next Social Security crisis came along. Apparently the libertarians became impatient waiting for a true crisis to come and convinced President Bush to create an artificial crisis in the minds of the American public. Bush has done a good job of casting doubts on the long-term solvency of Social Security as part of the plan to privatize the program. This plot to destroy Social Security, that was initially created by people at the Cato Institute and the Heritage Foundation, now includes the participation of the President of the United States, many members of Congress, and many other conservative organizations. Dr. Allen W. Smith, author of the explosive book, “The Looting of Social Security,” has written an even more explosive bombshell. This book exposes the Social Security accounting fraud, that makes Enron pale by comparison, and a plot to dismantle Social Security which was modeled after Lenin's struggle to overthrow capitalism. This is a must read for anyone who cares about the future of Social Security.

The Big Lie: How Our Government Hoodwinked The Public, Emptied the S.S. Trust Fund, and caused The Great Economic Collapse
ISBN: 097708518X

Ironwood Publications. 2009

The great economic collapse of 2008 started with the implosion of the American banking system, and then spread, like wildfire, throughout the entire global economy. What caused this colossal catastrophe? Answering that question is the purpose of this book. The collapse was not a natural disaster. It was manmade, and it should never have been allowed to happen. Reckless deficit spending by the federal government caused the national debt to skyrocket from only $1 trillion in 1981 to more than $11 trillion in 2009. During that same period, the government has borrowed, embezzled, or stolen every dollar of the approximately $2.4 trillion of Social Security surplus revenue that was supposed to have been saved and invested to fund the retirement of the baby-boomer generation. Another factor that contributed to the collapse was the repeal of the Glass-Steagall Act of 1933, a primary pillar of FDR s New Deal legislation that was designed to prevent a repeat of the 1930s financial collapse. When President Clinton signed into law the bill that repealed the Glass-Steagall Act, on November 12, 1999, he opened the floodgates for mass mergers of companies in the financial industries. This action contributed to the massive mismanagement on Wall Street that ultimately led to the meltdown. Smith chronicles the events during the past 28 years that collectively made the collapse almost inevitable.

Speaking Engagements

Speaking Engagement Availability: (Yes)

Allen W. Smith is available for media interviews and speaking engagements. Call 1-800-840-6812