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Cole: Budget Agreement Puts American People First

August 1, 2011

WASHINGTON, D.C. – Rep. Tom Cole (OK-04) made the following remarks on the House floor in support of the Budget Control Act:

"There's no question this isn't a perfect bill.

"There are a lot of things we would have liked, deeper spending cuts, some entitlement reform in this. We would have preferred to mandate that this house and other body take up a Balanced Budget Amendment and give the people and states an opportunity to render a decision on that. Those things aren't in this bill. I know there's things that some of my friends on the other side wanted: higher taxes, no changes in entitlements. They didn't get everything they wanted either.

"But this bill does adhere to the principles our speaker laid out at the beginning of the negotiations. First, most importantly -- and both sides agree on this -- it avoids default. It avoids the United States not paying its obligations for the first time in 230 years.

"Secondly, it actually cuts spending and links those spending cuts to the raising of the debt ceiling. And there's more spending cuts than there are increased borrowing going forward. That's a good thing.

"Third, no new taxes. That would be a killer on a down economy. And finally, while we don't get a guarantee of the Balanced Budget Amendment, we do get a guaranteed vote. This is what the American people have asked us to do. Come together, compromise, work together on their behalf and let them get about their business without creating additional problems for them. This bill, we put the American people first; we're going to continue to work on their problems. I urge we pass the rule and the underlying legislation."