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In response to President Bush’s State of the Union address, Wisconsin Citizens for a Sound Economy (WI CSE) State Director Cameron Sholty released the following statement:
"It was certainly refreshing to see President Bush reopen the debate on Personal Retirement Accounts with his statement, 'We should make the Social Security system a source of ownership for the America people.'
"For too long, politicians have treated the issue of Social Security Reform as the third rail in politics. However, a recent Gallup poll indicated that 64% of Americans favor some sort of PRA, yet it has taken the bold leadership of George Bush and some key current and former Members of Congress on both sides of the aisle to actually address the problem. Our own Paul Ryan has long recognized the need for Social Security Reform."
"The current system is decrepit, headed for insolvency by 2018. Unreformed, there is no way to continue the program without cutting benefits or raising taxes. With PRA's, people are allowed to own their accounts and invest a portion of their FICA taxes as they see fit, thereby ensuring their own retirement security."
"Our legislators and the candidates need to outline their vision for Social Security Reform and the retirement security of Wisconsin workers."