August 1, 2005--Posted at 5:00 p.m.
The fact is the social security plan was set up 70 years ago as a safety net for the nation's seniors. It was never intended to be a retirees only source of income. Unfortunately, that's what it has become for many.
President Bush's plan calls for a percentage of a workers check to be invested in a private account, if the employee so chooses, or the employee could continue to pay into the present system.
According to a chart from Sen. Lincoln, Social Security brings in $125 million into White County's economy. Anyone who is 55 or older, Bush promises will not be affected, but with the rise of baby-boomers growing older, residents are worried their economy will suffer.
They are also concerned that if the younger generation is given the opportunity, they won't make wise decisions, and they will suffer at retirement.