On Feb. 2 President George W. Bush outlined many of his plans for the nation in his 2005 State of the Union address.

Along with discussing terrorism and economic issues, Bush revealed his plans for Social Security reform. Bush said in his address the Social Security program will be bankrupt in 2042 due to the lack of new money being put into the system.

Beverly Moore, communications director for the Illinois chapter of the American Association of Retired Persons, said Social Security is currently managed by putting a portion of payroll taxes from both workers and employers into the Social Security fund. The AARP said the average amount is 6.5 percent, while the federal government sets the number at 6.2 percent.

Bush’s major plan to overhaul Social Security involves diverting people’s Social Security savings into their own private retirement funds, as he outlined in his State of the Union address.

“As our population grows older, there will be a shift with fewer and fewer people putting money in and more drawing out,” said Brad Hahn, a spokesman for House Speaker Dennis Hastert (R-Ill.). “Basically, the plan will flip.”

Hahn said Hastert supports Bush’s push to fix Social Security.

“The speaker believes it’s a very serious issue, and we can’t bury our heads in the sand,” Hahn said.

Some organizations, such as the AARP, agree Social Security needs to be strengthened, but not through Bush’s method.

Private accounts help people save money, but the AARP believes such accounts will not avoid the potential of bankruptcy for the program.

The AARP thinks privatization is the most troublesome issue, because it means money will be diverted into an individual investment account rather than Social Security itself, Moore said.

Although there is disagreement with Bush’s plans, others think some action is better than no action.

“I appreciate his taking the initiative to look to the future for senior citizens- because everyone will be one someday,” said John Axelson, a resident of Oregon, Ill.

Axelson worked as a professor at NIU and is now retired.

“As far as self investment, I think the only thing guaranteed are [savings].”

Mary Smith, a Sycamore resident and senior citizen, disagreed with Axelson and thinks the president is going to worsen the problem. She said she is worried about what will happen to future generations.

“I think [Bush] should leave it alone; he’s going to mess it up,” Smith said. “I have six kids and 19 grandchildren, and the grandchildren will be the ones affected by the problem.”