[Congressional Record Volume 151, Number 21 (Tuesday, March 1, 2005)]
[House]
[Page H800]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




       PROVIDING BETTER RETIREMENT CHOICES TO THE AMERICAN PEOPLE

  (Mr. WILSON of South Carolina asked and was given permission to 
address the House for 1 minute and to revise and extend his remarks.)
  Mr. WILSON of South Carolina. Mr. Speaker, I strongly believe that 
all Americans deserve a strengthened retirement. Our current Social 
Security system is financially broken, outdated, and unable to meet our 
future retirement needs.
  In 1950 there were 16 workers to support every beneficiary. Today 
there are only 3.3 workers per beneficiary. If Congress does not act 
soon, Social Security will be unable to meet its obligation to our 
children and grandchildren. Yesterday, I discussed this issue with 
fellow South Carolinians and many agree that our Social Security system 
faces significant problems.
  President Bush is boldly leading the way to solve these problems by 
providing younger Americans with retirement choices and strengthening 
benefits for today's retirees. Reform offers younger Americans the 
opportunity to invest their Social Security funds in voluntary personal 
accounts which will provide higher benefits and allows them to build a 
nest egg for retirement that the government cannot take away.
  As Congress continues to consider Social Security reform, I urge my 
colleagues to fix our system and provide better retirement choices to 
the American people.
  In conclusion, God bless our troops. And we will never forget 
September 11.

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