[Congressional Record (Bound Edition), Volume 151 (2005), Part 12]
[House]
[Page 15926]
[From the U.S. Government Publishing Office, www.gpo.gov]




                      PERSONAL RETIREMENT ACCOUNTS

  (Mr. DOOLITTLE asked and was given permission to address the House 
for 1 minute and to revise and extend his remarks.)
  Mr. DOOLITTLE. Mr. Speaker, in crafting Social Security legislation, 
we must offer workers the ability to own a portion of their retirement 
through personal accounts.
  President Roosevelt, the author of Social Security, was the first to 
suggest that, in order to provide for the country's retirement needs, 
Social Security would need to be supplemented by personal savings 
accounts. Personal accounts would allow workers to set aside part of 
their payroll taxes in a nest egg that the government cannot take away 
and that can be passed on to children and grandchildren.
  As Americans, we can choose where we work and live, what we drive, 
which insurance plan is best for us, so why can we not give workers a 
choice when it comes to their retirement?
  President Bush has said, ``If you own something, you have a vital 
stake in the future of our country. The more ownership there is in 
America, the more vitality there is in America, and the more people 
have a vital stake in the future of this country.''
  Americans take pride in what they own. Establishing personal accounts 
within Social Security is an important part of encouraging an ownership 
society.

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