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Social Security

I am committed to addressing the challenges facing Social Security, sustaining and protecting the program for current beneficiaries and future retirees. No program does more to ensure that every American can have a decent retirement.

Many seniors live on a fixed income, and I know how important their Social Security checks are for their medicines and day-to-day living expenses. Based on current forecasts, Social Security can pay full benefits until 2030, after which it will only be able to pay 75 percent of its promised benefits. In 2011, Social Security saw its expenditures exceed its revenues for the first time in decades.

While the system is not facing a crisis tomorrow, it will face some substantial structural problems in the not-too-distant future. And every year we delay addressing the issue, the solutions become more expensive and more painful.

Bipartisan Social Security Commission Act

The government must honor the promises it has made to those who have retired or are reaching retirement soon. I support legislation that would make changes to Social Security for the next generation of recipients, those under 55, while leaving the current system in place for those who have planned their retirements around it.

I believe a good place to start would be passage of legislation I introduced again this Congress, the Bipartisan Social Security Commission Act. The bill calls for a bipartisan and bicameral commission tasked with recommending reforms to ensure Social Security is solvent for at least 75 years. Congress would then be required to vote up or down on the commission’s recommendations within 60 legislative days.

More on Social Security

The Need To Reform The Drivers Of Our Debt

February 19, 2018 Weekly Columns
There is no question Congress must put our fiscal house in order. The debate surrounding spending cuts and increases, fundamental budgetary reform, and raising revenue will only intensify in the face of an exploding debt.  
 

Congress Makes The Final Call

March 20, 2017 Weekly Columns
Each year, Congress has the responsibility to pass a budget, and then appropriate funds in accordance with that budget to fund the federal government agencies. The process typically starts in February when the President submits his proposed budget. But Congress has no obligation to adhere to the President’s budget or even to put it to a vote. President Obama’s budgets were routinely rejected - and not on a partisan basis. More than once his proposed budgets failed to receive a single vote from either party in both the House and the Senate.
 

Congress Makes The Final Call

March 20, 2017 Weekly Columns
Each year, Congress has the responsibility to pass a budget, and then appropriate funds in accordance with that budget to fund the federal government agencies. The process typically starts in February when the President submits his proposed budget. But Congress has no obligation to adhere to the President’s budget or even to put it to a vote. President Obama’s budgets were routinely rejected - and not on a partisan basis. More than once his proposed budgets failed to receive a single vote from either party in both the House and the Senate.
 

Cole Op-Ed in The Ripon Society: Making Social Security Last For All

February 15, 2017 Weekly Columns
At a time when trust in government is at or near an all-time low, it is critical that Congress and the President do everything we can to ensure that American tax dollars are being well-spent.

Washington Examiner: Trump Budget Cuts May Be Tough Sell In Congress

January 28, 2017 News Stories
In just a few weeks, President Trump is expected to send Congress a federal budget that many expect will propose significant cuts to non-military spending. It will likely be the kind of proposal the GOP majorities in both the House and Senate have long embraced in theory but have had a harder time accepting in practice because it would require ending programs some of them support.

New President, New Budget

January 23, 2017 Weekly Columns
As President Trump begins his first 100 days into his presidency, Congress is busy working hand-in-hand with the new administration. Traditionally, the President presents the outlined budget for the next fiscal year in February. This begins the appropriations process to determine how each of our agencies and the entirety of our government are funded. A fiscal year expires on October 1st, so it is imperative that these appropriations are passed before that deadline.
 

New Year, New Promises

January 2, 2017 Weekly Columns

This week the 115th Congress will be sworn in and will immediately be faced with a host of challenges and opportunities. I am honored to serve another term as the Representative for the Fourth District of Oklahoma. When I was first elected in 2002, I was proud to serve with a Republican Administration and in the majority party in Congress. Six years later my party was the minority party and the United States had elected a Democratic president. In November 2016, the voters elected a Republican president and Republican majorities in both houses of Congress.

It's Time to Save Social Security

October 24, 2016 Weekly Columns
Since it was established in 1935, the Social Security program has become one of the most popular, and relied upon, government programs. A typical retired American will derive more than fifty percent of their income from Social Security. And approximately twenty five percent of American retirees rely on Social Security for nearly ninety percent of their income.

Providing Budget Certainty

November 2, 2015 Weekly Columns

As long as President Obama is in office and Republicans control Congress, the nation will remain in an era of divided government. Given our system of checks and balances, true negotiation must take place and real compromise must be reached to govern effectively. And like I’ve said on numerous occasions, neither side can ever get all that it wants in a negotiation. In fact, in a true negotiation you’ll always get less than you want and give up more than you’d like. 

Deficit Declining, Debt Rising

October 19, 2015 Weekly Columns

The Department of Treasury and Office of Management and Budget recently reported that the annual federal deficit had declined to its lowest level in years. At first glance, this sounds like very good news, and predictably President Obama was quick to claim it as his victory. However, even though the report certainly signals that some responsible choices have been made to slow the rate of spending, the reality is that the government still consistently spends outside its means and in so doing adds to our country’s already heavy burden of debt.

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