The Senate Budget Committee tonight passed the FY 1998 Concurrent Budget Resolution 17?4. The five-year plan is designed to produce a balanced federal budget by 2002. The second most senior member of the Budget Committee, Sen. Chuck Grassley issued the following statement.<P> "This budget plan makes progress towards lowering the national debt to help ensure a growing economy today, and lifting the debt burden on future generations tomorrow. While it works to lower the debt burden on our children and grandchildren, this budget also helps greatly increase educational opportunities for American college, special education and pre-school students.<P> "With a healthy dose of skepticism, I endorse the budget plan passed by the Senate Budget Committee. It's a positive, yet very difficult first step towards addressing Washington's overspending. At the same time, it also lowers some of the tax hurdles facing farmers and working families. I'll be working every step of the way to make sure Congress stays accountable and stays on track. The absence of long-term entitlement reform is extremely unfortunate. That's why I will push for desperately-needed reforms to take place.<P> "At the same time, I'm disappointed by the quintessential sacred cow of the federal budget. The Pentagon will get an extra $2.6 billion this year for a defense budget that's still geared toward fighting the Cold War. Don't forget, the Pentagon's budget includes $50-billion worth of unmatched disbursements. It can't even pass an audit. The Quadrennial Defense Review released today is a smokescreen to maintain the status quo. What's more, money that should be going into readiness and training accounts will likely instead be funneled into a bunch of Cold War relics, like the F-22 Fighter."