Coats Discusses Sequestration Cuts, Urges Action on Real Spending Reforms

WASHINGTON, DC – Senator Dan Coats (R-Ind.), senior Senate Republican on the Joint Economic Committee, today spoke on the Senate floor about the looming sequestration or across-the-board cuts and the need to focus on more responsible ways to reform spending by restructuring Medicare, Medicaid and Social Security.

In his speech, Coats discussed how sequestration is not the best way to address government spending. Coats said, “The sequester is not actually an across-the-board cut to the federal government. It ended up being heavily weighted in cuts to defense.  Congress exempted the major drivers of our debt and deficit, which are the mandatory spending programs.” 

“Let me be straight and say the things we are not supposed to say because it is political suicide: If we don't reform Medicare, Medicaid, and Social Security, it doesn't matter what else we do, we will not solve this problem,” added Coats.

“The real problem is finding the political will and courage to be honest with the American people and pass a fiscal package that will reassure investors, consumers and the world that the United States of America has finally taken the steps necessary to address the cause of our debt and put us on a path to return to fiscal soundness,” concluded Coats.

Audio and video of the speech is available by clicking here or on the image below.