Cole Comments on Budget Proposal
WASHINGTON, D.C. – Congressman Tom Cole (OK-04) made the following statement today in response to the release of the Obama administration's fiscal year 2011 budget:
"President Obama accomplished the remarkable feat of simultaneously raising taxes and increasing the deficit in the same budget. He did so by recklessly increasing spending, diverting TARP repayments from debt repayment to new programs, and avoiding entitlement reform. It just goes to show that while President Obama is swift to lecture conservatives about fiscal responsibility, his administration seems to be incapable of exercising any itself. This president and his liberal allies in Congress have raised government spending to unprecedented levels and created the largest deficits and debt this nation has ever seen.
"I believe the American people are also growing weary of President Obama's penchant for blaming every problem he has on former President Bush.
The fact is President Obama dramatically increased spending beyond the level President Bush recommended in 2009, and he's now increased spending yet again. It is President Obama and the Democratic majorities in Congress that have unleashed unprecedented federal spending and created the largest deficits and debt in American history. It's time for the president and his party to get serious about confronting the severe economic challenges facing our nation. Unless and until they do, our economy will remain at risk.
"It's time to cut the deficit the old-fashioned way -- by reducing spending. I am certain Republicans will work with the president to do just that in order to avoid the ruinous tax hikes he proposes in his current and future budgets if he meets them half way."