brendahela,
Welcome to the Shopsmith Forum.
Check out the topic "
Yet another "Goldie" Restoration" in the Maintenance and Repair section by AllenH at the link below. He has been doing some rust removal and cleaning up metal parts for his Shopsmith restoration. If you have Bench and/or Way Tubes to de-rust he shows the setup he made for doing that. His uses less de-rusting agent with a center spacer tube. Evaporust as JPG has suggested is a good product for removing rust and is quick but is more expensive than other products. It can be reused which, because of the cost, is a plus. There are other options that are less costly. I have also used vinegar to de-rust Bench and Way Tubes besides other parts. It does take longer (generally 3 days) than Evaporust. Vinegar is acidic and can damage some alloy parts found on Shopsmith tools so use caution. There is even a de-rusting method using potatoes.
https://forum.shopsmith.com/viewtopic.php?t=35396