President George W. Bush brought his solutions to the Social Security crisis to Hopkinsville Thursday.
Around a thousand people came out to listen to President Bush pitch his social security plan at the Hopkinsville-Christian County Conference Center.
President Bush proposed creating personal accounts that would allow people to use a small portion of their payroll taxes to invest instead of depending only on social security an idea Governor Ernie Fletcher agrees with.
“He’s talking about making Social Security more secure and strengthen it because most of the young people are used to investing themselves in 401K’s, Thrift plans or IRA’s.”
However, critics say the proposal does nothing to shore up the financial problems of the system and it could make it worse.
One of the few democrats in the audience, invited to attend the forum was State Representative Brent Yonts of Greenville.
Yonts said Bush’s plan is not urgently needed and does not solve the big picture.
Yonts says under Bush’s plan the government will still control where you put your money and it will probably help favored people in the stock market get rich. He also questions what companies are good investments.
“What happens if ten years ago Enron was a good company to invest in?”
Yonts says there are too many unanswered questions when it comes to Bush's plan and says Bush is not informing the public of the consequences.