Coats Statement on White House Budget Meeting

WASHINGTON, DC – Senator Dan Coats (R-Ind.) made the following statement regarding today’s budget meeting at the White House between President Obama and congressional leadership:   

“In a press conference earlier this week, President Obama said, ‘Right now, we’ve got a unique opportunity to do something big.’ I couldn’t agree more and I am glad he is on board at least rhetorically. Now is the time for the president to harness this unique opportunity and lead.

“Reports today indicate that the president now is ready to put Social Security and Medicare on the table for discussion. This is something I have urged since the beginning of the congressional session. It is clear these programs are going broke and require sensible reforms now to preserve benefits for retirees and future generations. I am glad the president finally has acknowledged the critical need to address excessive mandatory spending, which is the biggest driver of our debt.

“For months, we have asked what the president’s plan is to solve the biggest issue facing our country today. For months, we have heard the administration focus on tax increases, rather than spending reductions and pro-growth policies. The administration must recognize that we cannot tax our way out of this problem. Any revenues raised by closing tax loopholes should be part of a comprehensive plan that reduces tax rates for American families and businesses and creates jobs.

“I am hopeful the president will provide more details today on how to curb mandatory spending and offer a credible plan to restore our nation’s fiscal house.”

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