Congressman Tom Cole (OK-04) released the following statement regarding the release of President Obama's Fiscal Year 2014 budget plan:
"By submitting a budget that never achieves balance, President Obama has once again failed the most basic requirement of fiscally responsible governance. Raising taxes by $1 trillion and adding $1 trillion in new spending is not the approach we need to overcome our national debt and create jobs.
"However, it is encouraging that the president's budget does include modest reforms to Social Security and Medicare. Without substantial reform, these programs are headed for certain bankruptcy that will jeopardize benefits for seniors and potentially take down the entire economy. President Obama's proposals don't go far enough, but they provide a starting point to begin the urgent process of reform to save these programs and prevent a debt crisis.
"We have a significant distance to bridge between the Republican budget that balances in 10 years and the Democratic plan that never balances. Now that all plans are on the table -- including the Democratic Senate's first budget in four years -- I am hopeful that we can achieve significant progress in the coming months."